Fortescue’s billionaire chairman Andrew Forrest blasted his executives about their plans to acquire a coal-to-hydrogen project, describing it as “the most stupid” deal he had seen in a long time in private messages that have come to light through litigation in the United States.
In 2022, Fortescue worked with Kid Shelleen, billionaire Paul Tudor Jones’ flagship investment vehicle, on a joint bid for gas-fired power stations in Texas and coal plants in Ohio and West Virginia. The companies wanted to convert the plans to produce clean-burning hydrogen fuel.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.