I guess he's not content to be known as "iron miner and fish farmer, Andrew Forrest."*
From Canada's BNN Bloomberg, October 10:
Billionaire mining magnate Andrew Forrest is planning a massive factory to build equipment to produce green hydrogen in a key Australian coal hub.
Fortescue Metals Group Ltd.’s energy unit will build a plant with initial capacity to make two gigawatts of electrolyzers a year in Gladstone in Queensland, home to one of the world’s largest coal-export terminals. Construction will start in February with manufacturing targeted to begin in early 2023, the company said in a Sunday statement.
The initial capacity would make the plant among the largest in the world and vault Australia into early competition with China as a leading producer of the equipment. When paired with renewable energy, electrolyzers can make hydrogen that can be stored and transported and eventually converted into carbon-free energy for power or transportation.
“This initiative is a critical step in Fortescue’s transition from a highly successful pure play iron ore producer, to an even more successful green renewables and resources powerhouse,” Forrest said.
Investment by Fortescue Future Industries, initially $83 million and potentially rising to $650 million, is part of a boom for the equipment, which runs an electric current through water to separate it into hydrogen and oxygen....
...Sun Cable’s $21.8 billion project, a joint venture between mining magnate Andrew Forrest and fellow tech billionaire Mike Cannon-Brookes, aims to meet up to about 15% of Singapore’s energy needs, which now depend solely on natural gas, and reduce its carbon emissions by six million tonnes a year...
