Fortescue signs international decarbonisation-driven deals

Fortescue (ASX: FMG) has signed agreements with four major green energy innovators to accelerate decarbonisation in the Pilbara and beyond.

Announced in New York during the United Nations General Assembly, the agreements are with global leader in electric vehicles and in battery manufacturing and development, BYD; solar technology and manufacturing giant, LONGi; construction and mining equipment manufacturer, XCMG; and wind and energy storage leader, Envision Energy.

Fortescue has also finalised the acquisition of Spanish renewable technology company Nabrawind.

This all supports the miners partnership-led plan in which the miner is focused on building global alliances linking the Pilbara’s world-leading operational expertise, America’s and Australia’s research and development strength, the UK’s and Europe’s innovation and engineering excellence and anchoring it all with scale and cost-efficient manufacturing capability in China and the US.

“The world once benefited from open trade and cooperation — now it is divided. Fortescue is showing that industry can help glue back that multilateral spirit, not through rhetoric but through practical alliances that prove heavy industry can follow a new path — one where profits rise as emissions fall,” Fortescue executive chairman and founder Andrew Forrest said.

“China is scaling and manufacturing green technologies at unprecedented speed and our partnerships give Fortescue access to that capability.

“Meanwhile, through Nabrawind in Spain, Liebherr in Germany and the US, Fortescue Zero in the UK, and Fortescue operations in the Pilbara in WA, we are building a global R&D and production network.

“This is a truly multilateral collaboration that draws on the best ideas and manufacturing capacity to deliver the lowest cost energy and tackle climate change.

“By joining forces across continents, we are seizing the full extent of the decarbonisation opportunity and rebuilding the cooperation the world needs to address the climate crisis.”

These agreements build on Fortescue’s global innovation ecosystem — where European powerhouse Liebherr already plays a pivotal role in decarbonising Fortescue’s mining fleet with the production of T 264 trucks in Virginia in the US.