Fortescue Future Industries and Port of Açu join forces to develop green hydrogen plant in Brazil

Fortescue Future Industries and Port of Açu join forces to develop green hydrogen plant in Brazil

Fortescue Future Industries Pty Ltd (FFI), a wholly owned subsidiary of Fortescue Metals Group Ltd (Fortescue), and Porto do Açu Operações S.A. (Port of Açu), a subsidiary of Prumo Logistica S.A. (Prumo), have signed a Memorandum of Understanding (MOU) to assess the opportunity to develop hydrogen-based green industrial projects in Rio de Janeiro, Brazil.

Signed in late February, the MOU will allow for FFI and Port of Açu to conduct development studies into the feasibility of installing a green hydrogen plant at Port of Açu, Latin America’s largest privately owned deep-water port-industrial complex.

Subject to the outcome of the studies, the project envisages construction of a 300 megawatt capacity green hydrogen plant at Port of Açu, with potential to produce 250,000 metric tons of green ammonia per year.

The availability of green hydrogen and renewable power is expected to drive further sustainable industrialisation of the port, including production of green steel, fertilizers, chemicals, fuels, and other sustainably manufactured industrial products.

The MOU also lays the groundwork for onsite solar power development projects, as well as offshore wind development projects in the states of Rio de Janeiro and Espirito Santo.

FFI Chief Executive Officer Julie Shuttleworth said “FFI is assessing renewable energy and green hydrogen opportunities globally and will lead and drive the green energy and product industry as we transition away from fossil fuels.

“I am excited to announce this MOU with Port of Açu. The opportunity to establish totally new and future large-scale industries will drive growth in the Brazilian economy.

“We expect the potential for new green industries at Port of Açu to substantially diversify, broaden and deepen Brazil’s already skilled workforce.”

Jose Firmo, Chief Executive Officer of the Port of Açu, said: “The Port of Açu is sailing stead fastly ahead toward the sustainable economy of the future. One of the pillars of our vision for the port’s industrialization are today’s operational energy transition projects and the renewable energy-fuelled green industries of tomorrow.

“Açu is a gateway between the growing Brazilian economy and rapidly expanding low carbon businesses around the globe.”

Mr. Firmo said: “It is exhilarating to collaborate with an international partner of this calibre on such a visionary project. This will be the first green hydrogen plant in the country and will place FFI and Açu at the forefront of clean energy production and the green industrialization of Brazil.”

Subject to the completion of feasibility studies and approvals, individual projects will be developed by FFI with ownership and project finance sources to be separately secured without recourse to Fortescue.

Prumo is a private Brazilian company controlled by EIG, a leading institutional investor to the global energy sector.

 

Fortescue media contact:

Michael Vaughan, Fivemark Partners

E: [email protected]

M: +61 422 602 720

Port of Açu & Prumo media contact:

Vanessa Teixeira – General Manager, MarComm

E:[email protected]

EIG media contact:

Kelly Kimberly/Brandon Messina, Sard Verbinnen& Co.

E: [email protected]

T: +1 (212) 687-8080

About Port of Açu

Port of Açu is the largest privately owned deep-water port-industrial complex in Latin America. In operation since 2014, Port of Açu is managed by Porto do Açu Operações, a partnership between Prumo Logística and the Port of Antwerp International, a subsidiary of the Antwerp Port Authority..

Planned for the next five years, the port's industrialization will be founded on, amongst others, sustainable projects and clean energy generation: chemicals, fuels, pelletizing, steel and other companies will be able to use green hydrogen as input to make their energy mixes more sustainable.

About Prumo

Prumo is the multi-business economic group responsible for the strategic development of the Port of Açu.

Prumo is controlled by EIG, a US-based fund focused on energy and infrastructure, and by Mubadala Investment Company, an active and innovative investor that allocates capital in a variety of segments. Through the Group’s six companies (Porto do Açu Operações, Ferroport, Açu Petróleo, GNA, Dome and BP Prumo) and our clients and partners, the Port of Açu serves the oil and gas, port logistics and mining sectors.

Its infrastructure has unique potential to support new businesses and several industrial niches. Guided by Prumo’s strategic perspective, Açu is now one of the largest and most promising enterprises in Brazil. With operational safety and efficiency combined with the strength of the Group’s long-term vision and the proximity to the main oil exploration basins, Açu is consolidating into the best solution for the most challenging demands.

About EIG

EIG is a leading institutional investor to the global energy sector with $22.0 billion under management as of 31 December, 2020. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 39-year history, EIG has committed over $34.9 billion to the energy sector through more than 365 projects or companies in 36 countries on six continents.

EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.

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About Port of Antwerp-Bruges

With an overall throughput of 289 million tonnes per year, Port of Antwerp-Bruges is a critical hub in worldwide trade and industry. The port is a crucial link for the handling of containers, breakbulk and for the throughput of vehicles. Port of Antwerp-Bruges is home to 1,400 companies and accommodates the largest integrated chemical cluster in Europe. The port provides, directly and indirectly, a total of around 164,000 jobs and generates an added value of 21 billion euros.
 
The ambition for Port of Antwerp-Bruges is clear - to become the world's first port that reconciles economy, people and climate. As well as growing in a sustainable way, the Port also aims to focus on its unique position as a logistics, maritime and industrial centre and to take the lead in the transition to a circular and low-carbon economy. Together with the port community, customers and other partners, Port of Antwerp-Bruges is actively seeking innovative solutions for a sustainable future. High on the agenda is its responsibility for the environment and the surrounding society. 

The port sites of Antwerp and Zeebrugge are operated by the Antwerp-Bruges Port Authority, a limited liability company of public law with the City of Antwerp and the City of Bruges as its shareholders. The port employs 1,800 people. Vice-Mayor of Antwerp Annick De Ridder is President of the Board of Directors, the Mayor of Bruges Dirk De fauw is the Vice-President. Jacques Vandermeiren is CEO and President of the Executive Committee, which is responsible for the port’s day-to-day management. 

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