Baker Hughes and Fortescue Future Industries sign MoU

Oil field services companies, Baker Hughes has announced a memorandum of understanding (MoU) with renewable energy and green hydrogen asset company, Fortescue Future Industries. The MoU is to jointly explore potential 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 hydrogen and ammonia development, the collaboration will leverage Baker Hughes’ expertise and technology related to liquefaction and compression, turboexpanders and hydrogen-fuelled turbines. 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 optimisation.

Lorenzo Simonelli, chairman and CEO of Baker Hughes says: ‘FFI and Baker Hughes share ambitions for transforming and accelerating the energy transition. 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.”

‘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. 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,’ adds Mark Hutchinson, CEO of Fortescue Future Industries.