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
25 July 2025
Oil major cites strategy reset as it walks away from Australian Renewable Energy Hub, leaving partner InterContinental Energy to lead one of world’s largest green hydrogen projects
23 July 2025
Electrolysis seen as most leakage-prone production pathway as study warns of sharp increase through 2030 and beyond
22 July 2025
The gas-hungry sector is set for rapid growth, and oil majors and some of the world’s largest LNG firms are investing in ammonia production and export facilities, though much depends on regulatory support
16 July 2025
Major manufacturer cancels rollout of new hydrogen-powered vans and strengthens focus on battery electric and hybrid markets
