Baker Hughes and FFI collaborate on green hydrogen and geothermal projectsFebruary 1, 2023
The companies are working toward decarbonizing mining, steel and cement industries.
Baker Hughes (NASDAQ: BKR) recently announced a collaboration with Fortescue Future Industries (FFI) to explore the potential prospects for scaling up and adopting new technology solutions for green hydrogen, green ammonia and geothermal projects to help clean up industries that are difficult to decarbonize.
The companies’ respective expertise, technologies and new project goals will help the energy transition.
Fortescue Future Industries is an Australia-based heavy industry firm with an expanding portfolio of green energy projects, including hydropower and geothermal. FFI is committed to producing zero-emission green hydrogen from 100% renewable sources. US-based Baker Hughes is one of the world’s largest oil field services companies and a leading energy technology company.
The clean energy project will leverage Baker Hughes’ expertise and technology that is specific to turboexpanders, liquefaction and compression, and hydrogen-fueled turbines. As for geothermal, Baker Hughes will lend its skills for existing tech in geothermal subsurface analysis and geothermal well services as well as other expertise, such as digital solutions for asset performance management and beyond.
“FFI and Baker Hughes share ambitions for transforming and accelerating the energy transition,” Lorenzo Simonelli, chairman and CEO of Baker Hughes said in a recent company news release. The CEO added that Baker Hughes’ portfolio of technology can assist in placing both companies at the forefront of battling climate change with solutions that are both practical and implementable.
FFI CEO says the demand for green hydrogen and green energy is enormous.
“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,” said Fortescue Future Industries CEO, Mark Hutchinson. “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.”
The companies aspire to bring early-stage technologies to commercial scale at a faster rate than would otherwise be feasible. The hope is that these green technologies will help to benefit the lowering of greenhouse gas emissions in energy production sectors and hard-to-abate industrial sectors, such as cement, mining, and steel.