2024-09-23 12:42:11 :
New Delhi: AM Green Technology and Solutions BV has signed a binding agreement to acquire Chempolis Oy and Fortum 3 BV, marking parent company AM Green’s entry into the biofuels space.
AM Green Technology & Solutions also announced plans to invest $1 billion over the next three years to produce sustainable aviation fuel (SAF). On July 22, Mint reported that AM Green planned a $1 billion biofuel investment and was seeking to acquire Finland-based Chempolis Oy.
This development is significant as India is actively promoting the adoption of biofuels (ethanol, blended gasoline and SAF). The Global Biofuels Alliance (GBA) was established last year during India’s G20 presidency to promote biofuels globally.
Also read: Global Biofuels Alliance prepares charter, finalizes governance structure
Chempolis Oy has been a major player in the processing of lignocellulosic feedstocks, with over 15 years of research, technical capabilities and product development expertise. Lignocellulosic feedstock is a plant-based biomass composed of cellulose, hemicellulose and lignin. It is a renewable resource that can be used in a variety of applications.
“Chempolis’ technology will be able to process a variety of 2G waste feedstocks and produce high-value green chemicals and products such as ethanol, furfural and pure lignin, accelerating AM Green’s vision to become the world’s leading industrial decarbonization platform,” the company said. in a statement.
Anil Chalamalasetty, Chairman of AM Green Group, said: “We are delighted to partner with Chempolis to advance the processing of 2G lignocellulosic feedstock. This underlines our commitment to developing innovative, technology-enabled solutions to build large-scale biorefineries that utilize multiple feedstocks and produce high-value green products to decarbonize aviation, fuels, chemicals and other industrial sectors globally.”
AM Green foresees significant potential for downstream applications of these key products, which could pave the way for its entry into the green chemistry value chain across multiple sectors, including consumer and industrial use cases, the statement said.
Global biorefinery ecosystem
The company said it will work with global partners to build a global biorefinery ecosystem by licensing Chempolis’ technology. It also said it will further enhance Chempolis’ technical capabilities to process a wider range of feedstocks and convert them into high-value green products suitable for a variety of consumer and industrial applications.
The company, which is backed by Greenko Group founders Mahesh Kolli and Anil Kumar Chalamalasetty, aims to carve a niche in the energy transition ecosystem, including green hydrogen, green ammonia, biofuels, e-methanol, SAF and downstream high-value chemicals.
Last week, AM Green Ammonia BV, another subsidiary of AM Green, partnered with Germany’s RWE Supply & Trading to supply green ammonia. The Indian factory is expected to start supply by 2027.
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