Global green energy company Fortescue Future Industries (FFI) has today signed a Memorandum of Understanding (MoU) with Puget Sound Energy (PSE) in an effort to accelerate the clean energy transition in the Pacific Northwest through the development of the regional green hydrogen ecosystem.
North American CEO of FFI Andy Vesey said: "This is an important step forward to help utilities such as PSE to decarbonize their operations. There is significant demand for green hydrogen in North America and FFI is on a mission to meet this demand. The Inflation Reduction Act and Canada's 2022 Fall Economic Statement make North America one of the best places in the world to invest in green energy."
FFI announced earlier this year that it is evaluating the feasibility of converting the former Centralia coal mine into a green hydrogen production facility in Centralia, WA. The proposed plant would repurpose existing fossil fuel infrastructure to create green hydrogen at scale.
FFI's proposed plant would help to enable the decarbonization of hard-to-abate sectors of the North American economy and support the development of a Pacific Northwest green hydrogen production facility, creating hundreds of new local jobs.
Josh Jacobs, Vice President of Clean Energy Strategy at PSE said: "As one of the largest utilities in the state, PSE has a big stake in supporting the growth, adoption and stabilization of the hydrogen economy. We see lower carbon fuels like hydrogen playing a key role in decarbonizing the electric system as well as the piped energy system. Carbon-free, flexible resources such as hydrogen will be crucial to complement the intermittent nature of renewable energy sources like wind and solar," said
Global CEO of FFI Mark Hutchinson said, "FFI's goal is to turn North America into the world's leading global green energy heartland and create thousands of green jobs now and more in the future. Producing green hydrogen for offtake with partners like Puget Sound Energy is the solution we have been looking for. This is another important step in turning the corner once and for all, to implement the technologies carbon emitters need to reach net zero."
Under the terms of the MoU, both parties seek to establish a framework for potential green hydrogen supply agreements as well as pursue other opportunities for collaboration. The parties will establish a steering committee and working groups to take this effort forward.
