FFI founder Andrew Forrest
FFI buys US Phoenix Hydrogen Hub project
Acquisition marks Australian developer’s first major move into US hydrogen sector as it hails the impact of IRA
Australian green hydrogen developer Fortescue Future Industries (FFI) has made its first significant move into the US market by buying the Phoenix Hydrogen Hub project in Buckeye, Arizona from fuel-cell truck manufacturer Nikola for $24mn. “FFI is actively expanding its US presence and strengthening its position as a leading global developer of green energy production and technology,” said FFI CEO Mark Hutchinson. “The US is now one of the best places in the world to do this, with the Inflation Reduction Act [IRA] making it an ideal place to invest in green energy.” Phase one of the project, which is in the final stages of the permitting process, is planned to consist of an 80MW electrolyser
Also in this section
23 December 2025
Government backing and inflow of private capital point to breakthrough year for rising star of the country’s clean energy sector
19 December 2025
The hydrogen industry faces an important choice: coordinated co-evolution or patched-together piecemeal development. The way forward is integrated co-evolution, and freight corridors are a good example
10 December 2025
Project developer Meld Energy ready to accelerate 100MW project in Humber region after securing investment from energy transition arm of private equity firm Schroders Capital
9 December 2025
BP and Engie abandon large-scale green hydrogen projects in Gulf state as developers in all regions continue to struggle with lack of firm offtake
