Australia’s Fortescue has taken a 12.5% stake in Norwegian Hydrogen for close to NOK 100m ($8.95m) to become its third largest shareholder.
It comes as Fortescue continues to develop its portfolio of green hydrogen and ammonia projects, with two potential projects, each with 300MW of capacity, planned for Norway.
Norwegian Hydrogen is currently constructing its 1,300kg-per-day hydrogen production hub in Hellesylt as well as a site in Hjørring, Denmark, and in June (2023) announced plans for a 270MW green hydrogen production site in Ålesund.
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