Fortescue Ltd (ASX:FMG) has unveiled a suite of international partnerships designed to accelerate the decarbonisation of heavy industry, aligning its global supply chain with its ambitious “Real Zero by 2030” target.
Executive chairman Andrew Forrest used Climate Week NYC and the United Nations General Assembly as a platform to announce agreements with some of the world’s leading green energy innovators, underscoring Fortescue’s strategy of building cross-border alliances to outcompete fossil fuels on cost and scale.
New partnerships and acquisitions
The miner has formalised agreements with:
- BYD, the Chinese electric vehicle and battery giant, to supply advanced energy storage systems.
- LONGi, one of the world’s largest solar technology companies, for high-efficiency photovoltaic modules.
- Envision Energy, a global leader in wind and smart energy solutions, to deliver advanced turbine and storage technologies.
- XCMG, which will supply up to half of Fortescue’s future fleet of 300–400 zero-emission 240-tonne haul trucks between 2028 and 2030.
These deals add to Fortescue’s existing work with Liebherr on electrifying its Pilbara mining fleet and follow its move to take full ownership of Spanish renewable technology company Nabrawind, which specialises in wind turbine tower innovation.
Forrest said the strategy reflected the urgency of action required, citing recent research in Nature linking corporate emissions to the intensification of global heatwaves.
“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,” he said.
Global innovation hubs
Fortescue is also deepening its research links through Fortescue Zero, which coordinates R&D across its Colorado Technology Hub in the US, collaborations with CSIRO in Australia, and an Oxford-based innovation centre in the UK. Together, these hubs aim to integrate breakthroughs in power systems, storage and green energy generation into Fortescue’s operations.
Shares in Fortescue were steady at A$19.16 in afternoon trade, up just 0.1% on the day and around 0.8% higher over the past week.