Australian Fortesque Future Industries (FFI) has acquired a 60% stake in HEIT Group. In addition, the company is funding the expansion of the HyeT plant in the Netherlands.
Fortesque Future Industries (FFI) is the renewable energy division of Fortesque Metals Group. It is an Australian iron ore company and for many years the world’s fourth largest iron ore producer. FFI creates a global portfolio of renewable green hydrogen and green ammonia businesses to help make the parent company’s iron ore production more sustainable. Fortesque wants CO2 to be neutral by 2030.
The High Yield Energy Technologies (HyET) Group consists of 2 companies: HyET Hydrogen and HyET Solar. HyET Solar manufactures and manufactures cheap and efficient solar cells — Powerfoil-lightweight and flexible with thin film solar cells. HyET Solar owner Rombout Swamborn presented the production capacity to solar magazine editors in 2021 last year. The 900 MW peak should be measured.
HyET Hydrogen focuses on developing and selling low-cost solutions for hydrogen storage and distribution. It develops an innovative technology for hydrogen compression and extraction based on electrochemical processes.
1 gigawatt peak factory
The capital contributed by FFI will be used to expand the Dutch Powerboy factory of HID Solar. According to Fortesqui, the acquisition of the HD Group marks a major milestone in the production of 15 million tons of green hydrogen worldwide by 2030.
Julie Shuttleworth, CEO of FFI, comments: “We have begun design research for the 1 gigawatt Powerboy plant in Australia, and we want to cut costs faster and faster than conventional solar panel technology. Hydrogen technology can help us reduce costs in other parts of the green hydrogen supply chain.
“Green energy must be available on an industrial scale worldwide, we have no time to wait, we must act now,” said Andrew Forrest, FFI founder and chairman of Fortesque. “The technologies of the HD companies will help us reach that milestone and the world will begin the journey of active decarbonization.”
Only Supernova NV and Royal Wobak, the founding partners of the HEIT Group, are other shareholders in HEIT companies. FET and SuperNova agreed in principle to expand their cooperation to other current and future activities of the HyET Group. Rhombout Swanborn, Founder and Director of HEIT Hydrogen and HEIT Solar, concludes: ‘We are delighted to be partnering with FFI. Not only does this allow us to contribute more effectively to the creation of renewable energy infrastructure, but we can now increase the size of our businesses – 2 main goals since we started our business.
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