New Delhi: BASF and AM Green B.V. have entered a memorandum of understanding (MoU) to jointly evaluate and develop business opportunities for low-carbon chemicals produced exclusively with renewable energy, and the corresponding value chains in India.
Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE, and Mahesh Kolli, Group President of AM Green, signed the agreement in the context of the Asia-Pacific Conference of German Business 2024 hosted in New Delhi,
India.
Under the MoU, BASF and AM Green intend to conduct feasibility studies on low-carbon chemicals production in India including a joint evaluation of potential technologies. The cooperation also includes a non-binding letter of intent for the
offtake of 100,000 tonnes annually of ammonia produced exclusively with renewable energy including energy from pumped storage projects from AM Green’s plants in different locations in India.
This ammonia will meet EU standards for renewable fuels of non-biological origin (RFNBO) as defined in the Renewable Energy Directive (RED III). Some of AM Green’s facilities have already been pre-certified for RFNBO compliance through the CertifHyTM voluntary certification scheme. Pre-certification for AM Green’s other facilities is currently underway.
“We are committed to the sustainable transformation of the industries we serve. We are convinced that India is the right place to explore low-carbon chemical production together with our partner AM Green,” said Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE.
Mahesh Kolli, Group President of AM Green said, “We are delighted to partner with a global chemical leader like BASF to propel the green transformation in the industry. AM Green’s vision of deepening capabilities in downstream value chains
of green molecules is core to this partnership with BASF. AM Green and BASF partnership envisages to cater to multiple chemical downstream and associated consumer industries by providing key green molecule feedstocks to produce
chemicals, materials and products in the markets served by BASF.”
German chemical manufacturer BASF and Indian renewable energy company AM Green signed an MoU to explore low carbon chemical production opportunities in India. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
