AM Green Acquires Stake in Greenko Energy Holdings to Boost Green Energy Platform
Key Ideas
- AM Green BV acquires 17.5% equity stake in Greenko Energy Holdings from ORIX Corporation, enhancing their presence in the renewable energy sector.
- ORIX's investment in a convertible note issued by AM Green Luxembourg aligns with its strategy for long-term exposure to green hydrogen, ammonia, SAF, and other next-gen molecules.
- AM Green's fully integrated Power-to-X (P2X) platform aims to produce 5 MTPA of green ammonia, with plans for green hydrogen, low carbon caustic soda, SAF, and ethanol projects using innovative Chempolis technology.
- AM Green's Kakinada industrial complex, under construction, will become the world's largest integrated green industrial zone with facilities for green ammonia, electrolyzers, SAF, and green chemical production.
AM Green BV, through its subsidiary AM Green Power BV, has finalized an agreement to acquire a 17.5% equity stake in Greenko Energy Holdings from ORIX Corporation, further expanding its presence in the renewable energy domain. This transaction is expected to be completed in July 2025, making AM Green a significant stakeholder with around 25% ownership in Greenko. Concurrently, ORIX has also committed to investing in a convertible note issued by AM Green Luxembourg, the holding company of AM Green, to gain exposure to green hydrogen, ammonia, SAF, and other future-oriented molecules. Anil Chalamalasetty, the Founder and CEO of AM Green, emphasized the importance of this transaction in establishing a comprehensive and scalable green energy platform.
AM Green's focus on industrial decarbonization is evident through its plans to produce green ammonia and green hydrogen, with the first 1 MTPA green ammonia project already underway. Leveraging Chempolis technology, AM Green aims to develop low carbon caustic soda, SAF, ethanol, and bio-based high-value products. The company, founded in 2023 by Anil Chalamalasetty and Mahesh Kolli, is set to become a leading Power-to-X (P2X) platform, offering end-to-end decarbonization solutions.
AM Green's strategic projects include the construction of the world's largest integrated green industrial zone in Kakinada, Andhra Pradesh, featuring green ammonia production, electrolyzer gigafactory, and facilities for SAF and green chemicals. Furthermore, the acquisition of Chempolis in 2024 strengthens AM Green's Bio2X platform, enabling the conversion of biomass into valuable products like cellulosic pulp and ethanol. Greenko's operational capacity of 10 GWs, along with upcoming projects in green ammonia and energy storage, positions AM Green as a key player in the transition to sustainable energy solutions.