ENA Sectors 2024-07-22 17:26:55 <p><span style="font-size:14px"><strong>New Delhi, Jul 22 (KNN)</strong> Renewable energy company AM Green is poised to make a significant entry into the second-generation (2G) biofuels market with a planned investment of USD 1 billion. The company intends to establish two bio-ethanol plants as part of this new venture.</span></p> <p><span style="font-size:14px">Sources familiar with the matter report that AM Green is in negotiations to acquire a 50 per cent stake in Assam Bio Refinery Pvt. Ltd from Finnish firms Fortum Oyj and Chempolis Oy.</span></p> <p><span style="font-size:14px">Currently, Numaligarh Refinery Ltd (NRL), a subsidiary of Oil India Ltd, holds the remaining 50 per cent stake in the bio-refinery.</span></p> <p><span style="font-size:14px">Additionally, AM Green is reportedly seeking to acquire Chempolis Oy, a Finland-based biotechnology firm partially owned by Fortum, a Finnish state-run power utility.</span></p> <p><span style="font-size:14px">AM Green, founded by Mahesh Kolli and Anil Kumar Chalamalasetty, who also established the Greenko Group, has reportedly signed exclusivity agreements for these transactions.</span></p> <p><span style="font-size:14px">The company aims to expand its presence in the biofuel sector, with plans to construct two additional plants in India beyond the Assam facility.</span></p> <p><span style="font-size:14px">The focus of AM Green's initiative is on second-generation biofuels, which are produced from non-food biomass such as plant materials and animal waste.</span></p> <p><span style="font-size:14px">This approach differs from first-generation biofuels, which use food crops, and third-generation biofuels derived from micro-organisms.</span></p> <p><span style="font-size:14px">The Assam joint venture is expected to utilise 300,000 tons of bamboo annually to produce 50,000 tons of bioethanol, along with other bio-based chemicals and green energy.</span></p> <p><span style="font-size:14px">Chempolis, which AM Green seeks to acquire, is the technology licensor for this pioneering plant that produces cellulosic ethanol and bio-based chemicals from bamboo.</span></p> <p><span style="font-size:14px">This potential investment by AM Green represents a significant development in India's renewable energy sector, particularly in the emerging field of advanced biofuels.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38688 https://knnindia.co.in/news/newsdetails/sectors/am-green-plans-usd-1-bn-investment-in-second-generation-biofuels 2024-07-22 17:26:55 knnindia.co.in