Fortescue has taken the lead investor role in Electric Hydrogen’s (EH2) $380-MM Series C funding round. In addition to this major investment, Fortescue and EH2 have separately signed a framework procurement agreement to supply 1 gigawatt of EH2’s electrolyzer systems to Fortescue’s green H₂ projects in the U.S. and globally.

EH2’s complete 100-MW electrolyzer systems produce green H₂ from renewable electricity and water at large scale. Each EH2 electrolyzer system can make nearly 50 tpd of green H₂ at transformational low cost.

Fortescue Energy CEO, Mark Hutchinson, said, “Fortescue is committed and focused on supporting the rapid scaling of green technology to help heavy industry decarbonize and producing green H₂ at scale is integral to that. Right now, there are not enough electrolyzers in the world to support the amount of green H₂ we are set to produce. That is why we are partnering with other world leaders in this space to secure our green energy supply chain, and we’re excited to invest and secure capacity with Electric Hydrogen to help us achieve our goals.”

“Electric Hydrogen, just like Fortescue, is working at the speed and scale necessary to help deliver green H₂ projects around the world and stop the need for fossil fuels. We are looking forward to working together.”

EH2 Chief Executive Officer and Co-founder, Raffi Garabedian, said, “Electric Hydrogen and Fortescue share an ambition to achieve large scale, low-cost production of green H₂ globally as soon as possible. We want to make fossil-free H₂ an economic inevitability for fertilizer producers, steelmakers, chemical companies and other critical industries that have no other option to decarbonize.”

“Our team is excited to begin building and commissioning our leading electrolyzer technology at Fortescue project sites to deliver on that commitment.”