Yara Clean Ammonia and AM Green (Earlier Greenko ZeroC) Sign Term Sheet for Sale of Renewable Ammonia From India to Yara Clean Ammonia’s Global Market
13 May 2024 - 4:30PM
Business Wire
Yara Clean Ammonia, the world’s largest trader and distributor
of ammonia, and Greenko ZeroC, the green ammonia production arm of
the India-based AM Green, signed a term sheet for supply of
renewable ammonia from Phase 1 of AM Green’s ammonia production
facility in Kakinada, India.
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Ammonia production facility and port
infrastructure on East coast of India (Photo: Business Wire)
This term sheet and the subsequent offtake agreement covers the
long-term supply of up to 50% of renewable ammonia from Phase 1 of
AM Green’s ammonia production facility in Kakinada. The plant will
produce, and export renewable ammonia derived from round-the-clock
carbon free energy by 2027.
Renewable ammonia and other sustainable fuels from AM Green’s
platform, will be compliant with EU RFNBO and Renewable Energy
Directive requirements. For Yara Clean Ammonia, the renewable
ammonia supply will contribute to produce low-emission fertilizer
and for decarbonizing other industries like shipping, power, and
other industries.
Mr. Mahesh Kolli, President of AM Green said, “We are delighted
to partner with Yara Clean Ammonia to propel the transformation of
various industries and several OECD economies. Continuous focus on
innovation combined with execution reinforces AM Green’s leadership
position as a global clean energy transition solutions platform for
low-cost green molecules such as hydrogen, ammonia, fuels and other
chemicals.”
Mr. Hans Olav Raen, CEO of Yara Clean Ammonia said, “The AM
Green Kakinada project expands our portfolio of ammonia produced
with renewable energy and consolidates Yara Clean Ammonia’s
position as a reliable supplier of low-emission ammonia to
established and emerging markets like fertilizer production,
cracking of clean ammonia to hydrogen, shipping fuel, power
generation, and other industrial applications.”
About Yara Clean Ammonia
Yara Clean Ammonia is uniquely positioned to enable the hydrogen
economy in a market expected to grow substantially over the next
decades. We aim at significantly strengthening our leading global
position as the world’s largest ammonia distributor, unlocking the
green and blue value chains, and driving the development of clean
ammonia globally.
Building on Yara’s leading experience within global ammonia
production, logistics and trade, Yara Clean Ammonia works towards
capturing growth opportunities in low-emission fuel for shipping
and power, carbon-free food production and ammonia for industrial
applications.
Yara Clean Ammonia operates the largest global ammonia network
with 15 ships and has, through Yara, access to 18 ammonia terminals
and multiple ammonia production and consumption sites across the
world. Revenues and EBITDA for FY 2023 were USD 1.9 billion and USD
101 million respectively. Yara Clean Ammonia is headquartered in
Oslo, Norway.
www.yaracleanammonia.com
About AM Green
AM Green, incorporated by the founders of Hyderabad-based
Greenko Group - Anil Chalamalasetty and Mahesh Kolli, is one of
India’s leading energy transition solutions providers. AM Green is
leveraging a track record of entrepreneurship in pioneering new
technologies and pathways to shape the future of energy. We aim to
become one of the most cost-competitive producers of green
hydrogen, green ammonia, and other green molecules in the
world.
AM Green is developing one of world’s largest green ammonia
platforms starting with 1 million ton of production capacity at
Kakinada in two phases and ramping capacity to 5 million ton per
annum of green ammonia by 2030 – equivalent of 1 million ton per
annum of hydrogen.
In India, AM Green is developing production capabilities for
green molecules (green hydrogen, green ammonia, biofuels,
e-methanol, sustainable aviation fuels and various down stream high
value chemicals) for decarbonization in hard to abate industries.
The venture will also set up an international renewables and
storage business and a JV for making electrolysers with John
Cockerill of Belgium.
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version on businesswire.com: https://www.businesswire.com/news/home/20240511243279/en/
For AM Green, media relations: Mr Suheil Imtiaz Sr
Manager, Public Affairs & Strategic Communications Email:
suheil.m@amgreen.com Mobile: + 91 94401 59289
For Yara Clean Ammonia, media relations Ms. Hilde
Steinfeld Communication Director E-mail:
hilde.steinfeld@yara.com Mobile: +47 99 35 30 30