According to the company’s website media release on October 12, 2022, Fortescue Future Industries (FFI) welcomes progress made on the research and development of future technologies to complement its existing green hydrogen plans and potentially make green hydrogen production cheaper at scale.
FFI’s ‘Sparc Hydrogen’ joint venture with Sparc Technologies Limited and the University of Adelaide has been researching and developing a process known as photocatalytic water splitting, which uses the sun’s radiation and thermal properties to convert water into hydrogen and oxygen.
A preliminary Techno-Economic Analysis (TEA) has confirmed that if successfully developed, the technology has the potential to create energy efficiencies and a cost competitive advantage, because of the low capital and operating expenditure required, compared to renewable energy and electrolysis.
FFI CEO Mark Hutchinson said, “Fortescue is building a world-wide tech network to encourage scientists and engineers from across the globe to advance research and development in technologies that can help reduce carbon emissions.”
“Our goal is to develop green hydrogen and renewable energy innovations and technology, with a specific focus on decarbonising hard-to-abate industries that can be commercialised fast,” said Mr Hutchinson.
“If this Sparc Hydrogen technology is successful, it could ultimately be used to help produce green hydrogen at a larger and much more affordable scale,” said Mr Hutchinson.
Based on positive outcomes of the preliminary TEA, the Sparc Hydrogen joint venture partners have agreed to accelerate the Project Schedule and immediately commence scoping work on a pilot plant.
Sparc Technologies Executive Chairman, Stephen Hunt said, “Today marks a significant milestone for Sparc Technologies and the Sparc Hydrogen JV, with the preliminary TEA confirming the potential of this green hydrogen technology.”
“The decision to accelerate a pilot plant is evidence of the joint venture partners’ enthusiasm and is an important step on the path to commercialisation,” Mr Hunt said.
