Global liquefied natural gas (LNG) supplier and electricity generator New Fortress Energy Inc. (NFE) is partnering in a new company dedicated to producing hydrogen and renewable fuels as it aims to become a leading global provider of carbon-free energy. 

NFE has partnered with affiliate Fortress Transportation and Infrastructure Investors LLC (FTAI) on a joint venture (JV) to form Zero Parks. NFE CEO Wes Edens, who founded Fortress Investment Group LLC, said managing director Kenneth Nicholson would run the new company.

“We now believe that the actionable opportunity lies in clean and renewable energy fuels,” Nicholson said during NFE’s first quarter earnings call. “We plan to be in a position to reach a final investment decision on our first two projects by the end of...