Business

Airbus strikes with Australia’s Fortescue as airlines scramble for hydrogen

FILE PHOTO: Airbus site in Toulouse
FILE PHOTO: The logo of Airbus is seen on a building in Toulouse, France on March 11, 2021. REUTERS/Stephane Mahe

March 8, 2022

PARIS (Reuters) – European aircraft maker Airbus has chosen the hydrogen unit of Australian mining company Fortescue Metals Group Ltd to reduce CO2 emissions from flying, Fortescue Future Industries (FFI) said in a statement on Tuesday.

The move, marked by the signing of a letter of intent, reflects the companies’ “collective commitment to … support the entry into service of a hydrogen-based aircraft by 2035,” the press release said.

FFI’s chairman, Australian magnate Andrew “Twiggy” Forrest, built most of his fortune in the high-emissions mining sector of iron ore, but has recently become one of the business community’s most outspoken advocates for tackling climate change.

“Now is the time for a green revolution in the aviation industry,” he was quoted as saying.

The partnership will allow both companies to explore the application of green hydrogen – hydrogen made from renewable energy – in the aviation industry, which analysts see as the sector’s most promising bet to reduce emissions while keeping flight numbers high to keep.

Financial details were not immediately available.

(Reporting by Tassilo Hummel in Paris)

https://www.oann.com/airbus-strikes-deal-with-australias-fortescue-as-airlines-seek-hydrogen-boost/?utm_source=rss&utm_medium=rss&utm_campaign=airbus-strikes-deal-with-australias-fortescue-as-airlines-seek-hydrogen-boost Airbus strikes with Australia’s Fortescue as airlines scramble for hydrogen

Caroline Bleakley

USTimeToday is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@ustimetoday.com. The content will be deleted within 24 hours.

Related Articles

Back to top button