German chemicals group Covestro has struck a long-term deal on the supply of green hydrogen with Fortescue Future Industries (FFI) in Australia.
FFI will supply Covestro with the equivalent of up to 100,000 metric tons of green hydrogen (GH2) per year, according to the memorandum of understanding (MoU) agreed between the two companies, which was announced on Monday.
The deliveries are planned for production sites in Asia, North America and Europe, and could begin as early as 2024.
"Green hydrogen and its derivatives play a key role for the chemical industry, both as an alternative feedstock and a source of clean energy," said Markus Steilemann, CEO of Covestro.
Thanks to the new deal with FFI, he said, Covestro will be able to reduce its greenhouse gas emissions by up to 900,000 tonnes of CO2 per year.
Editor: Kelly
