Considering all the revolving announcements coming from the Sunshine State, maybe they should rename it Greensland?
In the wake of Twiggy Forrest’s renewable hydrogen projects, fertilizer and chemical manufacturer Incitec Pivot announced a study into the feasibility of green ammonia production. This is an environmentally friendly product, not the color.
Incitec Pivot and Fortescue Future Industries (FFI) announced today that they “will assess whether industrial scale manufacture of green ammonia at Gibson Island is technically and commercially feasible on an existing brownfield”.
In particular, if a new water electrolysis facility on Gibson Island can produce around 50,000 tonnes of renewable hydrogen per year, which would then be converted to green ammonia for Australian and export markets.
“Yesterday we announced that we are building the world’s largest electrolyser manufacturing plant in central Queensland, which is crucial for the production of hydrogen,” said Prime Minister Annastacia Palaszczuk.
“Queensland has an exciting future as a global powerhouse for the production of renewable hydrogen and renewable products and I would like to thank Incitec Pivot and FFI for their engagement in this study. “
Meanwhile, Incitec Managing Director Jeanne Johns said the partnership with FFI is “one of Australia’s best short-term opportunities to produce green ammonia on an industrial scale.”
Shares are down 1.8 percent today to $ 3.01, down from last week’s 20-month high of $ 3.15.
“The combination of FFI’s drive to develop a globally competitive green hydrogen industry and our leadership and technical skills in ammonia production will play an important role in developing the capabilities of the company. Australia in this growing international market, ”said Ms. Johns.
“By investigating the Gibson Island reallocation, we can make use of the existing manufacturing plant infrastructure, our established production capabilities and our highly skilled workforce.
“We are proud to play our role in developing a hydrogen industry in Australia,” said Ms Johns, adding that preliminary results of the feasibility study should be available at the end of the year.
The Gibson Island plant currently produces over 300,000 tonnes of ammonia each year.
Fortescue Future Industries (FFI) is a global green energy and products company committed to producing zero-emission green hydrogen from 100% renewable sources.
Its vision is to make renewable green hydrogen the most marketed marine energy product in the world. Fortescue shares are up 3.6% today at $ 14.76.