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BASF, AM Green BV to Explore Biz Opportunities of Low-Carbon Chemicals

BASF and AM Green B.V. have signed a memorandum of understanding (MoU) agreement to explore business opportunities for developing low-carbon chemicals produced exclusively with renewable energy (RE).

 

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 (LoI) for the offtake of 1,00,000 tonne annually of ammonia produced exclusively with renewable energy, including pumped storage projects-based energy from AM Green's plants in different locations in India.

 

This ammonia is required to meet EU standards for renewable fuels of non-biological origin (RFNBO), defined in the Renewable Energy Directive (RED III).

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