Energy technology company Baker Hughes has signed a memorandum of understanding (MoU) with Fortescue Future Industries (FFI), a subsidiary of Australian iron ore company Fortescue Metals Group, to collaborate on decarbonisation of hard-to-abate industries.
Under the MoU, Baker Hughes and FFI will jointly explore potential opportunities for the scale-up and adoption of novel technology solutions for green hydrogen, green ammonia and geothermal projects.
For hydrogen and ammonia development, the collaboration will leverage Baker Hughes’ expertise and technology related to liquefaction and compression, turboexpanders and hydrogen-fueled turbines .
For geothermal, Baker Hughes will provide its expertise for existing technologies in geothermal subsurface analysis, geothermal well services, emissions measurement, monitoring and carbon reinjection, as well as digital solutions for asset performance management and process optimisation.
“FFI and Baker Hughes share ambitions for transforming and accelerating the energy transition”, said Lorenzo Simonelli , Chairman and CEO of Baker Hughes. “Our portfolio of technologies can help place both companies at the forefront of tackling climate change with practical and implementable solutions. We are excited to support FFI in its ambitions for a more sustainable future.”
Mark Hutchinson , CEO of Fortescue Future Industries, added: “There is enormous demand for green hydrogen and green energy, and engineering solutions such as those pioneered by Baker Hughes are vital to increasing supply. We look forward to working with Baker Hughes on a variety of projects that will help to enable industries and the world to move beyond fossil fuels.”