KUALA LUMPUR: Gentari Sdn Bhd (Gentari), has entered into an agreement with AM Green BV to jointly invest, in phases, into a green ammonia platform, AM Green Ammonia Holdings BV (AMG Ammonia).
Green ammonia, is presently the most mature and stable form of transporting hydrogen.
The amount of investment was not disclosed, in the statement announcing the venture today.
AMG Ammonia is projected to produce five million tonnes per annum (MTPA) of green ammonia using round-the-clock renewable energy by 2030.
The five MTPA of green ammonia produced is equivalent to about one MTPA of green hydrogen, and would represent 20 per cent of India's target for green hydrogen production by 2030, or 10 per cent of Europe's target for imported renewable hydrogen.
This size and capacity will place AMG Ammonia among the world's pioneers in large-scale and cost-competitive green ammonia production.
AMG Ammonia was established by the founders of Greenko, one of India's leading renewable energy companies.
An affiliate of Singapore investment entity, GIC, is also an investor in AMG Ammonia.
The first export of green ammonia from AMG Ammonia is targeted by late 2025, and aims to serve key Organization for Economic Cooperation and Development (OECD) markets, such as Germany, Japan and South Korea, as well as Singapore.
Gentari in the statement said, strong collaborations in its focus market of Malaysia and the broader Asia Pacific, is vital to its global ambition of delivering up to 1.2 MTPA in clean hydrogen by 2030.
Gentari seeks to position Malaysia as a hydrogen export hub, whereby its hydrogen ventures seek to support a comprehensive national roadmap that includes hydrogen as an energy transition lever for Malaysia.
Its efforts include working with Sarawak's SEDC Energy Sdn Bhd to jointly explore the state's potential as a green hydrogen production hub and collaborating with parent Petroliam Nasional Bhd and Tenaga Nasional Bhd, to advance studies on green hydrogen development in Kerteh, Terengganu and Pengerang, Johor towards the creation of a hydrogen economy in Malaysia.
Gentari was advised by BofA Securities and Shardul Amarchand Mangaldas & Co, with completion of the transaction subject to the fulfilment of customary condition precedents.