Fortescue will cut 700 jobs and slow its push into green hydrogen in a blow to the Albanese government’s plan to make Australia a hydrogen superpower supported by more than $8 billion of taxpayer funded incentives.
Fortescue will cut 700 jobs and slow its push into green hydrogen in a blow to the Albanese government’s plan to make Australia a hydrogen superpower supported by more than $8 billion of taxpayer-funded incentives.
And energy sources say Japanese importers are increasingly looking at hydrogen only as a long-term alternative, preferring in the nearer term substitutes that are compatible with existing transport and utility infrastructure. Dr Forrest is already a major producer of renewable power in his private capacity through Squadron Energy, which owns numerous Australian wind farms.
Fortescue hired private investigators to follow and monitor the former executives behind the Element Zero start-up and their families as part of “We’re going to sadly lose around 4.5 per cent of our direct workforce, 3 per cent of our indirect workforce,” he said of the proposed cuts.
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