Canada markets closed
  • S&P/TSX

    19,366.69
    +230.88 (+1.21%)
     
  • S&P 500

    4,173.85
    +61.35 (+1.49%)
     
  • DOW

    34,382.13
    +360.68 (+1.06%)
     
  • CAD/USD

    0.8263
    +0.0040 (+0.49%)
     
  • CRUDE OIL

    65.51
    +1.69 (+2.65%)
     
  • BTC-CAD

    59,738.62
    -603.73 (-1.00%)
     
  • CMC Crypto 200

    1,398.33
    +39.77 (+2.93%)
     
  • GOLD FUTURES

    1,844.00
    +20.00 (+1.10%)
     
  • RUSSELL 2000

    2,224.63
    +53.68 (+2.47%)
     
  • 10-Yr Bond

    1.6350
    -0.0330 (-1.98%)
     
  • NASDAQ

    13,429.98
    +304.99 (+2.32%)
     
  • VOLATILITY

    18.81
    -4.32 (-18.68%)
     
  • FTSE

    7,043.61
    +80.28 (+1.15%)
     
  • NIKKEI 225

    28,084.47
    +636.46 (+2.32%)
     
  • CAD/EUR

    0.6799
    -0.0003 (-0.04%)
     

Fortescue, ATCO to build, operate hydrogen fuelling facilities in Western Australia

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
File photo of the logo of Fortescue Metals Group adorning their headquarters in Perth, Australia
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

(Reuters) - Australia's Fortescue Metals Group <FMG.AX> said on Monday it had signed a deal with the local unit of Canadian utilities company ATCO Ltd <ACOx.TO> to build and operate hydrogen refuelling facilities for vehicles in Western Australia.

To start with, the two firms will work toward building and operating a combined hydrogen production and refuelling unit at ATCO's existing facility in Jandakot, Perth, with the possibility of wider deployment across the state.

The new unit will include a fleet of Toyota Mirai fuel cell electric vehicles provided by Toyota Motor Corp's <7203.T> Australian unit, the country's third-largest iron ore miner said.

"As the world moves toward a lower carbon future, hydrogen has the potential to play a key role in the future energy mix and we want to ensure we remain at the forefront of Australia's renewable hydrogen industry," said Elizabeth Gaines, chief executive officer of Fortescue.

(Reporting by Rashmi Ashok in Bengaluru; Editing by Arun Koyyur)