Fortescue cuts 700 jobs, slows down green hydrogen plans
Fortescue is revising plans to become a major green hydrogen producer, citing high energy costs as main reason for restructuring and layoffs.
WPG Resources and Evergreen Energy have signed the agreements that set up the joint venture between them to develop and produce K-Fuel®, Evergreen’s coal upgrading technology, throughout Australia. WPG’s subsidiary, Southern Coal Holdings, will be used as the JV venture vehicle. SCH holds all of WPG’s coal assets in South Australia. Under the terms of the agreements, SCH will hold the exclusive licence for the first 15 Mt/y of K-Fuel produced anywhere in Australia, not just from SCH’s current tenement portfolio.
