Haldor Topsoe and Green Fuel enter into a Memorandum of Understanding to develop scalable technologies for green ammonia
Green Fuel and Haldor Topsoe have signed a Memorandum of Understanding (MOU), which will see the companies partnering to identify efficient and scalable technologies for the production of green ammonia in Iceland, according to the company's release.
The agreement also enables the two companies to explore other business opportunities within green ammonia.
Green ammonia will be vital for the decarbonization of hard-to-abate industries such as shipping, heavy goods transport and agriculture.
Topsoe and Green Fuels are both already active in developing green solutions to help combat the climate challenge. The two parties are now collaborating to develop viable and efficient solutions, which could serve to establish Icelandic production of green ammonia.
Topsoe develops cutting edge new technologies within green hydrogen, green ammonia, eMethanol and efuels, and Green Fuel is a hydrogen and ammonia company that intends to be at the forefront of the energy transition. Green ammonia is seen as a future fuel which will play a vital role in the decarbonization of salient industries including shipping, heavy goods transportation and agriculture.
As part of its plan to produce green ammonia and green hydrogen in Iceland, Green Fuel has also secured a Letter of Intent to operate at Bakki Eco-Industrial Park in north-east Iceland.
About Green Fuel
Green Fuel is an Icelandic hydrogen and ammonia company that intends to build and operate a green hydrogen and ammonia plant in Iceland. The company plans to sell its products domestically as the market develops, as well as exporting to foreign markets. ATOME Energy PLC, a UK based entity, is the majority shareholder in Green Fuel with a 75% share. ATOME will act as a green accelerator by enabling Green Fuel to reach first production by leveraging its expertise, by providing direct funding, and mobilizing institutional investors and international lenders.
About ATOME Energy
ATOME Energy Plc is a green hydrogen and ammonia production company, an offshoot of President Energy PLC, due to join the London Stock Exchange later this year. ATOME’s planned large-scale 350-megawatt projects are situated in Iceland and Paraguay, both countries having available baseload green generated electricity on tap 24/7 and available domestic-end markets with export potential in EU and Mercosur countries.
The Company has key MOUs and Co-operation Agreements already in place, with Power Purchase Agreement discussions advancing. ATOME’s objective is to commence the first phase production by end 2023, ramping up to the project’s full 350-megawatt capacity by mid-decade.
About Haldor Topsoe
Haldor Topsoe is a global leader in supply of catalysts, technology, and services to the chemical and refining industries. Topsoe aims to be the global leader within carbon emission reduction technologies by 2024. Topsoe is headquartered in Denmark and serves customers around the globe.