JCB inks multi-billion-dollar deal to supply hydrogen from Australia to the UK

2 min read | November 01, 2021 03:10 PM AEDT | By Arpit Verma

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JCB inks multi-billion-dollar deal to supply hydrogen from Australia to the UK — Image source: Literator, Shutterstock.com

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Highlights

JCB has inked a multi-billion-dollar deal with Australia’s Fortescue Future Industries.

The Company expects to sell green gas through its specialised division known as Ryze Hydrogen.

The hydrogen produced by FFI is green and produced from renewable sources.

The construction equipment company, JCB has inked a multi-billion-dollar deal with Australia’s Fortescue Future Industries (FFI) to import and supply green hydrogen from Australia to the UK.

Hydrogen fuel

Hydrogen fuel | Source: © Mrdoomits | Megapixl.com

Under the agreement, JCB will purchase 10% of FFI’s green hydrogen production, with FFI dealing with logistics and production.

The Company expects to sell green gas through its specialized division known as Ryze Hydrogen from the next year.

JCB inks multi-billion-dollar deal to supply hydrogen from Australia to the UK

Hydrogen is a clean fuel that produces water on burning hence, considered as an alternative option for heavy industries as the world wants to limit the utilisation of fossil fuels to curb carbon emissions and attain neutrality by 2050.

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Green fuel

The green fuel has already been powering buses in various countries and research is underway to make it suitable for other vehicles including trucks, trains, and airplanes across the globe, areas that are considered difficult to decarbonise.

Green fuel

Green fuel | Source: © Andreus | Megapixl.com

FFI’s hydrogen is green and produced from renewable sources. However, it still requires significant energy to produce.

Earlier, this month JCB announced an investment of £100m in a project related to the production of highly efficient hydrogen engines, to power its machinery.

Additionally, the company stated that it has a team of 100 engineers working on the hydrogen engines. Apart from this, the company is also recruiting 50 more people to deliver on its bid, making machines available to customers by 2022 end.

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Bottom Line

JCB has inked a multi-billion-dollar deal with Australia’s Fortescue Future Industries to supply green hydrogen from Australia to the UK.

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