U.S. developer New Fortress Energy will shift its focus to blue hydrogen

China Petrochemical News Network reported on May 11, according to Hydrogen Energy News, on May 7, US energy developer New Fortress Energy announced that it plans to shift from the development of green hydrogen technology to the development of blue ammonia and renewable fuel technology.

The New Fortress Energy Company, co-founded by billionaire Wes Edens, was originally established as a small-scale liquefaction technology developer in the United States, the Americas and other emerging markets.

However, in the earnings report for the first quarter of 2021 released on May 7, the executives of New Fortress Energy stated that the company intends to establish a joint venture with Fortress Transportation and Infrastructure (FTAI), which is managed by Fortress Investment Group.

Edens stated in his earnings report on May 7 that the company had paid attention to green hydrogen technology and invested in an Israeli electrolytic cell company, but he said, “In my opinion, green hydrogen business is not commercially viable.

He said that although the government supports green hydrogen, which is promising, the new fortress wants to implement two clean fuel programs.

Edens stated that Zero Parks, a new subsidiary of New Fortress, will focus on the development of renewable fuels and blue ammonia projects, both of which can make a final investment decision (FID) within the next two to three months.

The renewable fuel project will use animal fat, waste cooking oil and other biomass-based renewable materials to make renewable diesel, while another project will focus on steam methane reforming (SMR) and carbon capture to make blue hydrogen instead of using Renewable energy to produce green hydrogen.

Zhu Jiani excerpted from Hydrogen Energy News

The original text is as follows:

　　US developer New Fortress Energy swivels focus to blue hydrogen

　　US energy developer New Fortress Energy announced on 7 May it plans to pivot from developing green hydrogen technologies and instead focus solely on blue ammonia and renewable fuels technologies.

　　New Fortress Energy, co-founded by billionaire Wes Edens, first launched itself as a developer of small-scale liquefaction in the US, Americas and other emerging markets.

　　However, in a first-quarter 2021 earnings announcement on 7 May, New Fortress Energy executives said the company intends to launch a joint venture with Fortress Transportation and Infrastructure (FTAI), which is managed by Fortress Investment Group, the same parent company as New Fortress Energy.

　　Edens said during the 7 May earnings presentation that the company had looked at green hydrogen technologies and invested in an Israel-based electrolyzer company but said that “green hydrogen businesses, in my opinion today, are not commercially viable.

　　He said that while governments are supportive of green hydrogen, which was promising, New Fortress instead wanted to pursue two initiatives for clean fuels.

　　New Fortress' new subsidiary, known as Zero Parks, will focus on developing a renewable fuels and a blue ammonia project that both could make a final investment decision (FID) in the next two to three months, Edens said.

　　The renewable fuels project would create renewable diesel from repurposed materials such as animal fats, used cooking oil and other biomass, while the other would focus on steam methane reforming (SMR) and carbon capture to create blue hydrogen, instead of using renewable power to create green hydrogen.