May 30, 2024

Taylor Daily Press

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Morocco and Australia join forces for green hydrogen, ammonia and fertilisers

Morocco and Australia join forces for green hydrogen, ammonia and fertilisers

Morocco and Australia join forces for green hydrogen, ammonia and fertilisers

Moroccan OCP Group and Australian Fortescue Limited have established a joint venture to produce green hydrogen, ammonia and fertilizers for use at home and abroad.

The cooperation also includes the development of renewable energy, green technology and a research and development center in Morocco.

The two companies, world leaders in phosphate and iron ore respectively, want to use this initiative to reduce their emissions and contribute to the global energy transition. They see green hydrogen and ammonia as critical elements for a sustainable future. They also want to offer carbon-neutral, tailored fertilizers to farmers around the world.

The joint venture, which is subject to customary closing conditions, will include four core projects in Morocco: a large-scale production facility for green ammonia and fertilizers, a green technology and equipment production facility, and a research and development center near the Mohammed VI Mosque. Polytechnic University of Marrakesh, a collaboration between corporate venture capital funds to invest in important technological developments.

Partners will also benefit from the expertise of INNOVX, a cross-sector venture platform focused on building innovative and sustainable companies and creating startup ecosystems with strong local impact.

The agreement confirms the shared vision of OCP Group and Fortescue to make Morocco a center for green energy production, production and industry with significant long-term benefits for Morocco.

Morocco is already considered a leader in the region in renewable energy and has ambitious goals to generate electricity from renewable sources and reduce greenhouse gas emissions.

The joint project will also work to strengthen bilateral relations between Morocco and Australia, which have had diplomatic relations since 1976.

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