BASF, AM Green B.V join forces to explore business opportunities in low-carbon chemicals with RE

BASF and AM Green B.V. signed an agreement to explore business opportunities for low-carbon chemicals produced exclusively with renewable energy. 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 companies said in a joint statement.

"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," it said.

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