BASF and AM Green B.V. Join Forces for Low-Carbon Chemicals in India
Key Ideas
- BASF and AM Green B.V. sign MoU to explore business opportunities for low-carbon chemicals in India using renewable energy.
- The collaboration aims to assess the feasibility of producing low-carbon chemicals, including ammonia meeting EU standards, with renewable energy sources.
- AM Green plans to scale up its green ammonia production to 5 MTPA by 2030, supporting India's green hydrogen targets and decarbonization efforts in OECD markets.
- AM Green is also developing capabilities for producing other green molecules like caustic soda, e-methanol, olefins, and biofuels for decarbonization in various industries.
BASF and AM Green B.V. have signed a memorandum of understanding (MoU) to evaluate and develop business opportunities for low-carbon chemicals produced using renewable energy in India. The collaboration aims to conduct feasibility studies on the production of low-carbon chemicals, particularly ammonia, in India while assessing potential technologies. AM Green, a leading energy transition solutions provider in India founded by Anil Chalamalasetty and Mahesh Kolli of the Greenko Group, plans to produce green ammonia across multiple locations in India, aiming for a capacity of 5 MTPA by 2030. This initiative aligns with India's National Green Hydrogen Mission as well as Europe's green hydrogen import targets. The green ammonia produced will meet EU standards for renewable fuels of non-biological origin and support decarbonization efforts in industries. AM Green is also focusing on developing capabilities for producing other green molecules like caustic soda, e-methanol, olefins, and biofuels to facilitate decarbonization in hard-to-abate sectors.