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Is Fortescue Future Industries listed on the ASX? - Motley Fool

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Date: 2021-10-11 02:15:00

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Fortescue Future Industries is the talk of the ASX today, but market watchers may be disappointed to learn they can’t invest directly into the company.

There is a way to get a slice of Fortescue Future Industries in your portfolio, however. It involves buying shares in the parent company, Fortescue Metals Group Limited (ASX: FMG), which is trading more than 3% higher at the time of writing.

But first, let’s take a closer look at the future.

What is Fortescue Future Industries?

According to Fortescue Metals, its new subsidiary Fortescue Future Industries is the face of its hydrogen-powered ambitions and a key component in its plan to reach carbon neutrality by 2030.

Fortescue Future is working to establish a portfolio of renewable hydrogen and ammonia operations and aims to be a leader in the world’s renewable hydrogen industry.

Further, it plans to produce 15 million tonnes of green hydrogen each year by 2030. The hope is that green hydrogen will be the most traded seaborne energy commodity in the world by then.

How to invest in Fortescue Future Industries on the ASX

While investors can’t buy into Fortescue Future Industries directly, a holding in Fortescue Metals — the world’s fourth largest iron ore producer — will grant them some exposure to the business.

This includes Fortescue Future’s newly announced Global Green Energy Manufacturing Centre.

According to a release out today, the first stage of the Global Green Energy Manufacturing Centre will see the development of Australia’s first multi-gigawatt-scale electrolyser factory. Electrolysers can remove hydrogen from water and, if run on renewable energy, can produce ‘green’ hydrogen – a zero-carbon fuel source.

It appears investors may be interested in Fortescue Future Industries’ new hydrogen investment. The Fortescue Metal share price is up 3.65% trading at $14.77 at the time of writing.

Original Source: https://www.fool.com.au/2021/10/11/is-fortescue-future-industries-listed-on-the-asx/