Fortescue Future Industries acquires commercial assets of Xergy

Oct 29, 2021

Fortescue Future Industries (FFI), the 100 per cent renewable green energy and industry company of Fortescue Metals Group Ltd (Fortescue), has acquired the commercial assets of Xergy Inc and Xergy One Ltd. (Xergy) to form FFI Ionix Inc.

A wholly owned subsidiary of FFI and based in the United States, FFI Ionix will operate as a technology development company focused on global technology leadership and commercialisation of hydrogen technologies, including ion exchange membranes for water electrolysis, electrochemical compression, water transmission and fuel cells.

FFI Chief Executive Officer, Julie Shuttleworth said, “These investments will advance the technologies needed for FFI’s green hydrogen projects.

“Together, our goal is to make zero emissions energy available at an industrial, global scale as we become the world’s leading, fully renewable energy and green products company.”

FFI Ionix is a leader in next generation electrolysis technology, such as Anion Exchange Membrane (AEM) and is a commercial supplier of membranes.

The Company’s technology portfolio also includes several solid-state, non-mechanical, hydrogen compression and expansion technologies to support devices that operate on hydrogen and other gases as a fuel.

Xergy founder and FFI Ionix General Manager Bamdad Bahar said, “With an intellectual property estate of over 100 patents and applications, and a sales catalogue of various cutting-edge products, including a new range of leading-edge Anion Exchange Membranes, we share FFI’s passion for driving innovation.

“I am incredibly proud to have joined FFI Ionix and the global battle against climate change.”

FFI Ionix shares Fortescue's trailblazing spirit and dynamic innovation driven culture and will leverage six separate but complementary and comprehensive ionic materials technology platforms.