Latham & Watkins Advises Fortescue on Acquisition of Phoenix Hydrogen Hub Project From Nikola

Latham & Watkins advised Fortescue Future Industries (FFI), a subsidiary of Fortescue Metals Group (ASX FMG), in its acquisition of Phoenix Hydrogen Hub LLC, owner of a proposed green hydrogen project located near Phoenix, in the City of Buckeye, Arizona.

FFI is acquiring the PHH project from an affiliate of Nikola Corporation, which will remain connected to the project as a potential offtaker of green hydrogen, to support the deployment of its heavy-duty, zero-emission fuel cell vehicles and hydrogen refueling stations in California and the US Southwest.

The Latham team was led by New York partner Caroline Phillips and Houston partner Justin Stolte, with associates Greg Sorensen, Cesar Leyva, Carlyle Reid, and Haley Sandoval. Advice was also provided on tax matters by Houston partner Jim Cole, with associates Christine Mainguy and Dylan White; and on hydrogen sale and purchase matters by Houston partner Chris Peponis, with associate Andrew Lassman*.

*Not admitted to practice in Texas. Admitted in Australia.