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 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.
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