Fortescue Future Industries (FFI) welcomes the progress made on the research and development of future technologies to complement its existing green hydrogen plans and potentially make green hydrogen production cheaper at scale.
FFI’s ‘Sparc Hydrogen’ joint venture with Sparc Technologies Limited and the University of Adelaide has been researching and developing a process known as photocatalytic water splitting, which uses the sun’s radiation and thermal properties to convert water into hydrogen and oxygen.
A preliminary Techno-Economic Analysis (TEA) has confirmed that if successfully developed, the technology has the potential to create energy efficiencies and a competitive cost advantage because of the low capital and operating expenditure required compared to renewable energy and electrolysis.
Based on positive outcomes of the preliminary TEA, the Sparc Hydrogen joint venture partners have agreed to accelerate the Project Schedule and immediately commence scoping work on a pilot plant.
Mark Hutchinson, the FFI CEO, said, “Our goal is to develop green hydrogen and renewable energy innovations and technology, with a specific focus on decarbonising hard-to-abate industries that can be commercialised fast.”
Stephen Hunt, Sparc Technologies Executive Chairman, said, “Today marks a significant milestone for Sparc Technologies and the Sparc Hydrogen JV, with the preliminary TEA confirming the potential of this green hydrogen technology.”