Source link : https://tech365.info/fortescue-cancels-flagship-hydrogen-initiatives-uk-ought-to-take-discover-cleantechnica/
Fortescue’s latest determination to desert two main hydrogen-for-energy tasks after reaching Remaining Funding Determination (FID) serves as an vital sign for policymakers world wide, notably within the UK, which is pretending its autumn hydrogen technique replace shall be proof led. These cancellations, one situated in Gladstone, Australia, and one other in Arizona, USA, symbolize extra than simply remoted setbacks.
They illustrate a broader financial actuality. Hydrogen as an vitality supply, versus its use as an industrial feedstock, is more and more failing beneath scrutiny. Fortescue’s tasks had vital monetary backing, authorities assist, and appeared viable on paper. But the underlying economics merely couldn’t face up to altering situations.
The Arizona undertaking was an 80 MW inexperienced hydrogen facility initially meant to determine Fortescue’s foothold within the American market. As I famous a 12 months in the past, constructing a inexperienced hydrogen undertaking in an more and more waterless desert was insane to start with. The undertaking’s cancellation adopted shifts in US vitality coverage beneath the Trump administration, notably the elimination of sure hydrogen-related subsidies. This coverage uncertainty rapidly revealed the true economics of hydrogen manufacturing. With the incentives eliminated, the undertaking’s already tenuous monetary viability vanished, prompting Fortescue to write down off roughly $150 million in pre-tax…
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Author : tech365
Publish date : 2025-07-24 18:42:00
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