BASEL, Switzerland, June 26, 2024 /PRNewswire/ -- Hygenco Green Energies and Ameropa, have signed a Term Sheet in view of the potential supply of green ammonia from Hygenco's planned Green Ammonia plant in India. This aims at enhancing green ammonia exports from India, supporting the global transition to renewable energy and sustainable agricultural practices.
Hygenco signs term sheet with Ameropa. Harish Jayaram, Vice President - Business Development, Hygenco and Beat Ruprecht, Head of Ammonia, Amaropa (in the images).
Hygenco will produce green ammonia from its forthcoming project at the Gopalpur port in Odisha. First Phase of this project will produce 600 TPD which will achieve CoD by 2027. Phase 2a will double this to 1,200 MTPD by early 2028. However, this Project will reach to its full production capacity of 1.1 MTPA of Green Ammonia by 2030.
Currently, Hygenco is the only Indian company with an operational commercial green hydrogen plant. Additionally, the company is currently developing multiple Green Hydrogen plants in India and plans to invest US$2.5 Bn in Green Hydrogen and Green Ammonia projects in the next three years.
"Inspired by the age-old philosophy that the world is one family, we are proud to announce a visionary partnership with Ameropa to support their decarbonization goals. At Hygenco, we leverage our advanced technology and pioneering expertise in Green Hydrogen to produce the 'Greenest of Green' Ammonia, ensuring it is economical, reliable, and safe.
"This term sheet highlights India's exceptional position to lead globally in this sector, by harnessing its abundant renewable energy resources and strong infrastructure," said Mr. Amit Bansal, co-founder & CEO, Hygenco Green Energies.
Globally efforts are intensified to reduce carbon emissions and achieve carbon neutrality by 2050, green hydrogen and ammonia emerge as promising alternatives to fossil fuels across various sectors, including fertilizers and energy. With India's target of producing 5 million tonnes of green hydrogen by 2030, the country is poised to become a major exporter of green ammonia.
"Ameropa reckons the undoubtable fast-tracking of green ammonia projects in Odisha state, India. The Swiss trader has decided to support Hygenco's well-advanced plans whilst nurturing the ambition of a global portfolio of low-carbon ammonia," commented Ameropa's Head of Ammonia, Beat Ruprecht.
Hygenco & Ameropa plan to start exporting green ammonia to Europe and Asian markets, focusing on establishing a reliable supply chain. The companies plan on capturing a significant share of the growing global low-carbon ammonia markets.
For Ameropa, the green ammonia will be pivotal to help the industry make low-impact fertilizers and grow sustainable agricultural practices globally. This will also significantly enhance the Swiss company's indirect emissions reduction.
About Hygenco
Headquartered in Gurgaon, India, Hygenco is a global pioneer deploying green hydrogen and green ammonia-powered industry solutions. Hygenco develops and deploys scaled-up commercially attractive green hydrogen and green ammonia assets. Hygenco, which has deep capabilities in designing, building, and operating Green Hydrogen projects, has commissioned India's first Green Hydrogen project in Hisar which was inaugurated by Union Minister of Civil Aviation and Steel in March this year.
About Ameropa
Headquartered in Binningen, BL, Switzerland, Ameropa is a worldwide agriproducts merchant that also has integrated production, distribution, and retail assets in certain areas. As the largest independent trader for N and P crop nutrients, it has a long history in dealing with Ammonia.
Ameropa's merchandising covers all regions of the world and is organized around three hubs located in Switzerland, Singapore, and Tampa. In terms of upstream and downstream footprints, it has established strong presence noticeably in Romania and Australia.