Page 126 - CW E-Magazine (1-10-2024)

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FOCUS ON RENEWABLES

AM Green to acquire Finland’s Chempolis and Fortum 3

AM Green Technology and Solu- AM Green plans to work with part-
tions B.V., a part of AM Green Group ners globally to create a bio-refi nery
of Hyderabad, has announced the sign- ecosystem using Chempolis’ techno-
ing of binding agreements to acquire logy through a licensing model.
Finland-based Chempolis Oy and
Fortum 3 B.V. entities. The deal price Mr. Anil Chalamalasetty, Group
was not disclosed in the press statement Chairman of AM Green, said, “We are
announcing the deal. excited to partner with Chempolis to
advance the processing of 2G ligno-
AM Green, a producer of green cellulosic feedstocks. This highlights
hydrogen and green ammonia, is in- our commitment to develop innova-
directly wholly owned by the foun- tive, technology enabled solutions to
ders of Greenko Group, one of India’s were no longer in the core of Fortum’s establish large-scale biorefi neries that
leading renewable energy companies strategy. utilise multiple feedstocks & produce
and a major global player focusing on high-value green products enabling
clean energy solutions. Chempolis is The concurrent transfer of Fortum global decarbonisation in aviation,
a pioneer in lignocellulosic feedstock Bio2X is the fi nal step in deepening the fuels, chemicals, and other industrial
processing with research, technology years-long collaboration between the sectors.”
capabilities and product development parties. With the transaction, the for-
expertise spanning over 15 years with merly separate entities will now func- The statement added that AM Green
strong R&D teams. tion as one company. would invest $1-bn over the next three
years to produce over 0.5-mtpa of Sus-
Chempolis Oy’s subsidiary, Chem- AM Green said Chempolis’ tech- tainable Aviation Fuel (SAF) for global
polis India Pvt. Ltd., is also included in nology will enable the processing of airline decarbonisation. AM Green said
the transaction. In addition, the Finnish multiple 2G waste feedstock and the it will further advance the Chempolis
energy company Fortum Oyj has agreed production of high-value green chemi- platform’s technological capabilities
to divest its biobased solutions business cals and products such as ethanol, fur- to process a wider range of feedstocks,
(Bio2X) to Chempolis. In 2023, For- fural, and pure lignin, and accelerate its transforming them into high valuable
tum renewed its strategy after which vision to become the “world’s leading green products tailored for diverse con-
Chempolis’ and Bio2X’s business areas industrial decarbonisations platform”. sumer and industrial applications.

CIRCULAR PACKAGING

Castrol raises recycled content in its HDPE packaging
to 50%

Castrol India Ltd., a leading lubri- to help make its packaging more sustain- sustainable packaging. This achievement
cant manufacturer, has taken another able, including the commercialisation of is a testament to the hard work and dedi-
step towards achieving its sustainability 100% recycled bottles for ‘Power’ range cation of our team, who have overcome
aims by increasing recycled content in of engine oils in 2022 and the incorpo- challenges to develop packaging solu-
its high-density polyethylene (HDPE) ration of 30% recycled content across tions that meet our high standards for
plastic bottles to 50%. With this deve- its entire bottle packaging in 2023. The quality and aesthetics,” said Mr. Sandeep
lopment, the company aims to achieve latest achievement aligns with Castrol’s Sangwan, Managing Director, Castrol
2,600-tonnes of annual recycled plastic global ‘PATH360’ strategy, which aims India, The company’s production facili-
usage in its packaging portfolio by 2024. to reduce its plastic footprint by half by ties utilise energy-effi cient technologies
2030. “We are proud to announce this and renewable energy to reduce its
This builds upon its previous actions milestone in our journey towards more operational greenhouse gas emissions.

126 Chemical Weekly October 1, 2024

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