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Fortescue shut down its Queensland green hydrogen plant, laid off 90 workers, and faces repayment talks after missing production goals, despite ongoing global investments and a 2030 decarbonization target.
Fortescue has shut down its Queensland green hydrogen plant, laid off 90 workers, and faces negotiations to repay millions in public funds after failing to meet production targets.
Despite the setbacks, the company maintains its commitment to green hydrogen, citing new investments in Norway and Brazil and a claimed breakthrough in cheaper hydrogen technology.
Industry experts note green hydrogen remains costly and less efficient than electricity, with adoption hindered by infrastructure gaps and uncertain demand.
Public subsidies continue to play a key role in early-stage development, and Fortescue reaffirms its goal to decarbonize its iron ore operations by 2030.
Fortescue cerró su planta de hidrógeno verde de Queensland, despidió a 90 trabajadores y enfrenta conversaciones de reembolso después de no alcanzar los objetivos de producción, a pesar de las inversiones globales en curso y un objetivo de descarbonización para 2030.