Fortescue Future Industries (FFI) will expand its U.S. presence and strengthen its position as a leading global developer of green energy technology through the establishment of a Technology Hub in the state of Colorado.
The Hub, which will potentially create more than 150 local jobs, will bring together experts from leading Colorado universities and institutions, including the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL).
FFI will develop green hydrogen and green energy innovations and technology, with a specific focus on decarbonising hard-to-abate industries that can be commercialised fast.
More importantly the Technology Hub will facilitate latest technologies into the manufacturing centres which FFI is now contemplating due to the successful passage of the US legislation, “The Inflation Reduction Act” (IRA).
Fortescue founder and Executive Chairman Dr Andrew Forrest AO said, “Fortescue is building a world-wide tech network to encourage scientists and engineers from across the globe to advance research and development.
“FFI will rapidly commercialize the technology we build here to achieve real world outcomes. That is where the IRA will give us the horsepower we need to bring this cutting-edge research into reality.
“America is the world’s deepest innovation ecosystem, and now the best place for green hydrogen investment following the passing of the IRA,” said Dr Forrest.
“The passage of that Act was an historic moment for the United States – it will help to create jobs for Americans and reduce emissions, and our Technology Hub is already proof of that,” said Dr Forrest.
Colorado was selected from a number of potential locations due to its world-leading research and development (R&D) institutions, vibrant innovation ecosystem and quality of life which makes it an attractive destination for the best talent in the USA.
Colorado Governor Jared Polis said, “This exciting announcement brings good-paying jobs to Coloradans, builds upon our work to achieve 100% renewable energy by 2040, and reflects Colorado’s role as a global hub for innovation”.
FFI CEO Mark Hutchinson said, “Colorado offers a forward-thinking regulatory and policy environment and FFI looks forward to capitalising upon some of the best and brightest minds in the United States.
“There is significant global demand for the green energy and green hydrogen FFI will produce, and for the new technology it is developing,” said Mr Hutchinson.
“Fortescue’s tech web will sow and harvest the best talent and stretch across the globe, with teams already set up in Australia, UK and Europe,” said Mr Hutchinson.
The state of Colorado awarded incentives totalling US$1.996 million to support the establishment of the Hub and the creation of jobs in the green energy industry.
NREL director Martin Keller said, “The transition to a clean, decarbonized energy system is a global challenge that requires global solutions.”
“For more than 45 years, NREL has transformed the way the nation and the world use energy with our unique capabilities, including proving technologies and addressing integration challenges at scale. This collaboration with FFI and our partners here in the state of Colorado will leverage these unique capabilities, and with our combined resources and expertise, together we will advance the technologies that are critical toward the transformation of our energy future,” said Mr Keller.