Puget Sound Energy and Fortescue Future Industries Forge Partnership to Explore Green Hydrogen Development

Bellevue, Washington (12/12/2022) PSE and Fortescue Future Industries ((FFI) have announced that they will form a working partnership to evaluate opportunities around the development, storage, transportation and use of green hydrogen. The companies have signed a Memorandum of Understanding (MoU) in a bid to accelerate the growth of the regional hydrogen ecosystem.

FFI, a global green energy company, announced earlier this year that they are evaluating the feasibility of converting the former Centralia coal mine into a green hydrogen production facility. The proposed plant would repurpose existing fossil fuel infrastructure to create green hydrogen at scale.

Lower carbon fuels like hydrogen have the potential to transform the energy landscape and help utilities like PSE solve some of the biggest challenges with the transition to clean energy. Under the terms of the MoU, PSE and FFI seek to establish a framework for potential green hydrogen supply agreements as well as pursue other opportunities for collaboration. The two companies will establish a steering committee and working groups to take this effort forward.

“As the largest utility in the state, PSE has a big stake in supporting the growth, adoption and stabilization of the hydrogen economy,” said Josh Jacobs, Vice President of Clean Energy Strategy at PSE. “We see lower carbon fuels like hydrogen playing a key role in decarbonizing the electric system as well as the piped energy system. Carbon-free, flexible resources such as hydrogen will be crucial to complement the intermittent nature of renewable energy sources like wind and solar and maintain a stable grid.”

CEO of FFI North America Andy Vesey said: “This is an important step forward to help utilities such as PSE to decarbonize their operations.

“There is significant demand for green hydrogen in North America and FFI is on a mission to meet this demand. The Inflation Reduction Act and Canada’s 2022 Fall Economic Statement make North America one of the best places in the world to invest in green energy,” added Vesey.

PSE has an aspirational goal to be a Beyond Net Zero Carbon energy company by 2045. As a part of this ambitious goal, PSE is committed to transforming its own energy supply as well as helping other sectors, such as transportation, to reduce carbon emissions.

 

Media Contact:

Andrew Padula, 1-888-831-7250, psenewsroom@pse.com

Fortescue Future Industries: media@fortescue.com