Under the MoU, the pair will jointly explore potential opportunities for the scale up and adoption of novel technology solutions for green hydrogen, green ammonia and geothermal projects.

The collaboration will leverage Baker Hughes’ expertise and technology related to liquefaction and compression, turboexpanders and hydrogen-fuelled turbines for hydrogen and ammonia development.

Baker Hughes will also provide its expertise for exciting technologies in geothermal subsurface analysis, geothermal well services, emissions measurement, monitoring and carbon reinjection, and digital solutions for asset performance management and process optimisation.

Lorenzo Simonelli, Chairman and CEO of Baker Hughes, said, “Our portfolio of technologies can help place both companies at the forefront of tackling climate change with practical and implementable solutions.”

Mark Hutchinson, CEO of FFI, added, “There is enormous demand for green hydrogen and green energy and engineering solutions such as those pioneered by Baker Hughes are vital to increasing supply.

“We look forward to working with Baker Hughes on a variety of projects that will help to enable industries and the world to move beyond fossil fuels.”

The companies aspire to bring early-stage technologies to commercial scale faster than what would usually be possible, which will potentially benefit the reduction of greenhouse gas emissions in both energy production and hard-to-abate sectors.

Baker Hughes recently released The Baker Hughes Energy Transition Pulse 2023 which surveyed 555 executives active in energy and hard-to-abate industries across the Americas, Asia-Pacific, Europe and the Middle East and Africa, about their readiness to achieve Net Zero.

The report found that 30% of those surveyed said they will prioritise the use of or investment in hydrogen in the future, up from a current 19%, ranking it above synthetic fuels or gases; carbon capture utilisation and storage; or nuclear power.

Read more: ‘Hydrogen is on the move’, says new Baker Hughes report