Baker Hughes partners with FFI for geothermal and green hydrogen
Baker Hughes Chairman and CEO Lorenzo Simonelli and Fortescue Future Industries CEO Mark Hutchinson at the signing ceremony during the Baker Hughes Annual Meeting in Florence, Italy (source: Baker Hughes)
Carlo Cariaga
30 Jan 2023
The collaboration between Baker Hughes and FFI will leverage on the companies' respective expertise to explore opportunities in geothermal, green hydrogen, and ammonia.
Baker Hughes has announced the signing of a Memorandum of Understanding with Fortescue Future Industries (FFI) to jointly explore opportunities for the scale up and adoption of novel technology solutions for green hydrogen, green ammonia, and geothermal projects. The companies see new pathways to accelerate the energy transition thanks to their respective expertise and portfolio of technologies on new projects.
For geothermal, Baker Hughes will provide its expertise for existing technologies in geothermal subsurface analysis, geothermal well services, emissions measurement, monitoring and carbon reinjection, as well as digital solutions for asset performance management and process optimization.
For hydrogen and ammonia development, the collaboration will leverage Baker Hughes’ expertise and technology related to liquefaction and compression, turboexpanders and hydrogen-fueled turbines.
“FFI and Baker Hughes share ambitions for transforming and accelerating the energy transition,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “Our portfolio of technologies can help place both companies at the forefront of tackling climate change with practical and implementable solutions. We are excited to support FFI in its ambitions for a more sustainable future.”
The companies aspire to bring early-stage technologies to commercial scale faster than what would otherwise be possible. These technologies will potentially benefit the reduction of greenhouse gas emissions in both energy production and hard-to-abate industrial sectors including mining, steel and cement.
“There is enormous demand for green hydrogen and green energy, and engineering solutions such as those pioneered by Baker Hughes are vital to increasing supply,” said Mark Hutchinson, CEO of Fortescue Future Industries. “We look forward to working with Baker Hughes on a variety of projects that will help to enable industries and the world to move beyond fossil fuels.”
Fortescue Future Industries is a global green energy and product company working on producing zero-emission green hydrogen from 100% renewable sources and is part of the Fortescue Metals Group. FFI had previously signed a master plan with the National Energy Authority of Papua New Guinea for the development of a geothermal energy site at the West New Britain province.
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. The company is also spearheading the Wells2Watts geothermal energy consortium that aims to transform dry and non-productive geothermal and oil and gas wells into geothermal wells capable of generating renewable power.
Source: Baker Hughes
