BASF Partners with AM Green to Explore Opportunities in Low-Carbon Chemicals in India
BASF and AM Green B.V. have signed an MoU to explore business opportunities for low-carbon chemicals made with renewable energy in India. The cooperation includes a non-binding letter of intent for an annual offtake of 100,000 tons of ammonia produced solely with renewable energy from AM Green's plants across India.
October 29, 2024. By Mrinmoy Dey
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.
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.
The cooperation also includes a non-binding letter of intent for the offtake of 100,000 tons 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 CertifHy voluntary certification scheme. Pre-certification for AM Green's other facilities is currently underway.
Commenting on the development, Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE said, “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.”
Mahesh Kolli, Group President of AM Green, stated, “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.”
He further added that 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.
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