AM Green bags €585 million Green Ammonia deal in H2Global auction

Hyderabad: AM Green Ammonia (India) has emerged as the sole winner of the Asian lot in the H2Global auction and secured a long-term purchase agreement to supply renewable fuels of non-biological origin (RFNBO) ammonia to Germany.

The agreement was signed with HINT.CO GmbH (Hintco), the intermediary for the auction. Under the deal, Hintco will purchase renewable ammonia from AM Green for a minimum value of €585 million over a 10-year period. The company may also acquire additional volumes quoted by AM Green, using proceeds generated from the resale of green ammonia in the European market.

The green ammonia will be produced at AM Green’s facility in Kakinada. The auction was conducted by Hintco, with CEO Timo Bollerhey and AM Green Ammonia CEO Gautam Reddy formalising the agreement.