Fortescue has formed a new green energy investment accelerator platform, dubbed Fortescue Capital, to help the company deliver green energy projects and decarbonisation investments.
Fortescue Capital will be headquartered in New York City and will be run by Robert Tichio as chief executive officer (CEO) and managing partner.
The platform’s main tasks will be delivering greater shareholder returns and building on Fortescue’s reputation for generating high total shareholder returns.
“Fortescue is taking its global pipeline of green hydrogen and green ammonia projects to final investment decision, and in doing so has communicated our intention and desire to bring additional equity investors onboard,” Fortescue Energy CEO Mark Hutchinson said.
“Further, Fortescue has previously communicated its planned investment to decarbonise its Pilbara operations, and we see Fortescue Capital as an essential tool of engagement as we embark on both missions.”
New CEO Tichio will be joined by a senior leadership team including Nathan Craig, Rael McNally and Jennifer Zarrilli. Each will serve as managing directors and be based in New York.
“Fortescue has demonstrated unmatched leadership in calling for capital formation to support large scale, industrial solutions that can provide durable and high-impact decarbonisation pathways for difficult-to-decarbonise emitting categories,” Tichio said.
“I am thrilled to join the talented and passionate team at Fortescue to bring these projects to a global set of institutional investors.”