BASF and AM Green partner to explore low-carbon chemical production in India
Author: PPD Team Date: 29/10/2024
BASF and AM Green B.V. have signed a memorandum of understanding (MoU) to explore business opportunities for developing low-carbon chemicals produced exclusively with renewable energy.
As part of the agreement, both companies plan to conduct feasibility studies in India, assessing potential technologies for low-carbon chemical production.
The collaboration also includes a non-binding letter of intent (LoI) for BASF to offtake 100,000 tonnes annually of ammonia produced solely with renewable energy. This includes energy from pumped storage projects at AM Green’s plants across India. The ammonia will meet the EU’s Renewable Energy Directive (RED III) standards for renewable fuels of non-biological origin (RFNBO).