In a statement, Fortescue said it has signed a memorandum of understanding with Hyundai Motor Co. and Australia’s national scientific agency, the Commonwealth Scientific and Industrial Research Organisation (CSIRO), on additional development and commercialization of renewable hydrogen. 

Fortescue already has a number of hydrogen projects on the books and has been working with CSIRO on developing a way to separate out hydrogen from ammonia molecules. The new agreement outlines areas of cooperation on further development and future commercialization of that technology. Hyundai, meanwhile, will seek to demonstrate the viability of the technology for renewable hydrogen production and vehicle fueling in Korea. 

“This important strategic partnership with Hyundai and the CSIRO signals Fortescue’s ongoing commitment to the ramp-up of a competitive domestic and global renewable hydrogen industry, to support the transition to a lower-carbon future,” said Fortescue deputy chief executive officer Julie Shuttleworth.  

“It builds on our investment in new hydrogen technologies that ensures Fortescue is well-positioned to meet the demand for hydrogen as both an export opportunity and to contribute to the decarbonization of our operations in the Pilbara,” Shuttleworth said.