Australia/Germany: Australia-based Fortescue Future Industries (FFI) and Germany-based Covestro plan to start a long-term agreement for the supply of green hydrogen and its derivatives, including ammonia. According to the memorandum of understanding, FFI and Covestro will formalise an agreement under which FFI will supply Covestro with the equivalent of up to 100,000t/yr of hydrogen. The deal will enable Covestro to reduce its greenhouse gas emissions, from using grey hydrogen, by up to 900,000t/yr of CO2 per year. The deliveries are earmarked for three potential locations – in Asia, North America and Europe - and could commence by 2024.
Green hydrogen is hydrogen made using renewable energy sources. FFI’s ambition is to grow its green hydrogen production to 15Mt/yr of green hydrogen by 2030, accelerating to 50Mt/yr in the following decade.
Covestro uses hydrogen and its derivatives as feedstock in the production of polymers. It produces a wide range of products including those used for thermal insulation in construction.
