Collaborative Venture on Green Hydrogen and Geothermal Projects Proposed by Baker Hughes and Fortescue Future Industries

In a significant move towards a more sustainable future, Baker Hughes and Fortescue Future Industries (FFI) have announced a collaboration to explore opportunities for green hydrogen, green ammonia, and geothermal projects. The announcement was made at the 23rd Baker Hughes Annual Meeting in Florence, Italy, on January 30, 2023.

The collaboration aims to decarbonize hard-to-abate industries such as mining, steel, and cement, and potentially benefit the reduction of greenhouse gas emissions. This joint effort is expected to bring early-stage technologies to commercial scale faster than what would otherwise be possible.

Baker Hughes, an energy technology company that conducts business in over 120 countries, will contribute its expertise and technology. This includes liquefaction and compression, turboexpanders, hydrogen-fueled turbines for hydrogen and ammonia development, geothermal subsurface analysis, geothermal well services, emissions measurement, monitoring, carbon reinjection, digital solutions for asset performance management, and process optimization.

For geothermal projects, Baker Hughes will also offer its digital solutions for asset performance management and process optimization. This collaboration is a testament to both companies' shared ambitions for transforming and accelerating the energy transition.

Lorenzo Simonelli, chairman and CEO of Baker Hughes, expressed his excitement about supporting FFI in its ambitions for a more sustainable future. He stated that both companies share a common goal of making energy safer, cleaner, and more efficient for people and the planet.

The Baker Hughes Annual Meeting, a premier convening event for energy and broader industry leaders, serves as a platform to discuss the changing energy landscape and practical solutions to address climate change. With over 1,600 attendees, the event provided an ideal setting for the collaboration announcement.

On the same day in Florence, Italy, Enel Green Power, along with other local and international partners, also signed a memorandum of understanding to cooperate in the development of green hydrogen and geothermal energy projects. However, Mark Hutchinson, CEO of Fortescue Future Industries, was not quoted in the provided paragraph regarding this separate initiative.

This collaboration between Baker Hughes and FFI is set to revolutionize the energy sector, contributing significantly to the global effort to combat climate change and promote a more sustainable future.