The Pecem Industrial & Port Complex in Brazil, in collaboration with the Government of Ceara, has successfully secured $134 million in financing from the World Bank to support its hydrogen strategy. This financial backing comes in the form of a combination of loans and grants, including a $90 million loan from the International Bank for Reconstruction and Development (IBRD), a $9 million grant from the IBRD Surplus-Funded Livable Planet Fund, a $33.5 million loan from the Climate Investment Funds (CIF) under the Renewable Energy Integration scheme, and a $1.5 million grant from CIF REI. The Ceara government has inked more than 40 memoranda of understanding and six pre-contracts with various companies such as Linde, EDF, EDP, Engie, BP, Fortescue, and Grupo Jepri to boost green hydrogen production. Fortescue, in particular, has taken a significant step by becoming the first company to sign a pre-contract for a hydrogen project at the Pecem complex, with plans to invest $5 billion in the initiative, set to commence in 2024. This substantial investment and collaboration reflect a positive outlook on the future of hydrogen energy at the Pecem Industrial & Port Complex.