JCB Signs Groundbreaking Deal for Green Hydrogen Production in Partnership with Australian Firm
Key Ideas
- JCB has signed a deal with Fortescue Future Industries to purchase 10% of their green hydrogen production, marking a significant step towards sustainable fuel use.
- The partnership involves FFI handling production and logistics, with JCB and Ryze managing distribution and customer demand, aiming to make green hydrogen more accessible.
- JCB is investing £100 million in zero-emission hydrogen engines for machinery, with plans to make them available to customers by the end of 2022.
- The deal positions Fortescue Future Industries as the largest supplier of green hydrogen to the UK, highlighting the growing importance of sustainable energy solutions in heavy industry.
In a groundbreaking move, JCB, a construction equipment firm based in Uttoxeter, has entered into a multi-billion-pound deal with Australian company Fortescue Future Industries (FFI) to procure green hydrogen produced from non-fossil fuel sources. This partnership is being hailed as the first of its kind and signifies a significant leap towards utilizing sustainable energy alternatives. The agreement involves JCB purchasing 10% of FFI's green hydrogen output, with FFI responsible for production and logistics, while JCB and Ryze focus on distribution and stimulating customer demand. Green hydrogen, generated using electricity from renewable sources, is deemed by FFI's CEO Julie Shuttleworth as the 'fuel of the future.' She emphasizes its pivotal role in decarbonizing heavy industry globally and enabling the production of various industrial goods. JCB's chairman, Lord Bamford, lauds this deal as crucial in the journey towards establishing green hydrogen as a feasible solution. Earlier, JCB revealed its investment of £100 million in developing zero-emission hydrogen engines to power its equipment, demonstrating a commitment to sustainability. By expanding its engineering team and planning to introduce hydrogen-powered machines to the market by the end of 2022, JCB aims to drive the adoption of eco-friendly technologies. The collaboration positions Fortescue Future Industries as a key green hydrogen supplier in the UK, contributing to the country's efforts in embracing renewable energy and combating climate change.
Topics
Green Hydrogen
Renewable Energy
Innovation
Sustainability
Investment
Engineering
Business Partnership
Construction Equipment
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