AM Green is set to invest $1 billion to enter the second-generation biofuels sector, establishing two bio-ethanol plants as part of the new venture. The renewable energy company also plans to purchase a 50% stake in Assam Bio Refinery Pvt. Ltd from Finnish firms Fortum Oyj and Chempolis Oy.
Currently, Assam Bio Refinery is jointly owned by Numaligarh Refinery Ltd (NRL), a subsidiary of Oil India Ltd, which holds 50%, and Fortum and Chempolis, with stakes of 40% and 10% respectively. AM Green intends to acquire Chempolis Oy, a biotechnology company based in Oulu, Finland, in which Fortum, a Finnish state-owned utility, has an interest.
The bio-ethanol production will use non-food biomass such as plant materials and animal waste. The Assam joint venture will process 3,00,000 tons of bamboo annually to produce 50,000 tons of bioethanol, 19,000 tons of furfural, 11,000 tons of acetic acid, and generate 144 gigawatt-hours of green energy.
Chempolis, the technology licensor for second-generation biofuels, has pioneered the world’s first plant that produces cellulosic ethanol and bio-based chemicals from bamboo.
As reported by chinimandi.com, AM Green’s strategic vision includes ventures into green hydrogen, green ammonia, biofuels, e-methanol, sustainable aviation fuels, and high-value chemicals downstream, aligning with India’s strong commitment to transitioning to green energy solutions.
