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AM Green Seeks $1 Billion Funding

Nov 1, 2023

By: BlinkX Research Team

AM Green, an Indian hydrogen and ammonia producer owned by the founders of Greenko Energy Holdings, is in the process of raising approximately $1 billion for its expanding operations. The company is collaborating with an advisor for the fundraising effort, aiming to enhance its capacity for producing green hydrogen and other chemical compounds. One of the key objectives for AM Green is to establish a yearly capacity of one million tonnes of green methanol.

Recent announcements confirm investments from Singapore's GIC Pte and the renewable energy arm of Malaysia's Petronas Nasional Bhd in AM Green Ammonia Holdings, with plans to produce 5 million tons of green ammonia annually.

While discussions are ongoing and details may evolve, the move aligns with the increasing importance of green ammonia and hydrogen in various industries, including electricity generation and hard-to-decarbonize sectors like oil refining and steel production. In India's pursuit of achieving net-zero emissions by 2070, AM Green joins major players like Adani Group and Reliance Industries in substantial investments in these technologies.

AM Green, led by Anil Chalamalasetty and Mahesh Kolli, is focused on developing production capabilities for green hydrogen, green ammonia, biofuels, green caustic soda, and e-methanol. This diversification underscores their commitment to sustainable energy solutions.