Baker Hughes and Fortescue Future Industries to exploring green hydrogen and Geothermal Projects
Baker Hughes announced Monday a memorandum of understanding (MoU) with Fortescue Future Industries (FFI) to jointly explore potential opportunities for the scale up and adoption of novel technology solutions for green hydrogen, green ammonia and geothermal projects.
The companies see new pathways to accelerate the energy transition thanks to their respective expertise and portfolio of technologies on new projects.
For hydrogen and ammonia development, the collaboration will leverage Baker Hughes’ expertise and technology related to liquefaction and compression, turboexpanders and hydrogen-fueled turbines. For geothermal, Baker Hughes will provide its expertise for existing technologies in geothermal subsurface analysis, geothermal well services, emissions measurement, monitoring and carbon reinjection, as well as digital solutions for asset performance management and process optimization.
“FFI and Baker Hughes share ambitions for transforming and accelerating the energy transition,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “Our portfolio of technologies can help place both companies at the forefront of tackling climate change with practical and implementable solutions. We are excited to support FFI in its ambitions for a more sustainable future.”
The companies aspire to bring early-stage technologies to commercial scale faster than what would otherwise be possible. These technologies will potentially benefit the reduction of greenhouse gas emissions in both energy production and hard-to-abate industrial sectors including mining, steel and cement.
“There is enormous demand for green hydrogen and green energy, and engineering solutions such as those pioneered by Baker Hughes are vital to increasing supply,” said Mark Hutchinson, CEO of Fortescue Future Industries. “We look forward to working with Baker Hughes on a variety of projects that will help to enable industries and the world to move beyond fossil fuels.”