BASF and AM Green's Green Chemical Pact

BASF and AM Green B.V. have entered an agreement to explore business opportunities for producing low-carbon chemicals using renewable energy. They aim to conduct feasibility studies for production in India, including a potential non-binding agreement to offtake renewable energy-produced ammonia meeting EU standards.

In a strategic move towards sustainable production, BASF and AM Green B.V. have signed an agreement to explore business opportunities centered on low-carbon chemicals produced exclusively with renewable energy sources.

The companies, through a Memorandum of Understanding, are set to conduct comprehensive feasibility studies for low-carbon chemicals production in India. This initiative will involve a joint evaluation of potential technologies suitable for such innovative production.

Furthermore, the cooperation includes a non-binding letter of intent for the annual offtake of 100,000 tons of ammonia. This ammonia, produced with energy solely from renewable sources, will adhere to EU standards for renewable fuels of non-biological origin as per the Renewable Energy Directive (RED III).

(With inputs from agencies.)