AM Green Technology and Solutions BV announced on Monday that it has signed a binding agreement to acquire Finnish companies Chempolis Oy and Fortum 3 BV.
The purchase will include Fortum’s 37.4 percent stake in Chempolis Oy and its 40.3 percent share in Assam Bio Ethanol Pvt Ltd.
According to a press release, AM Green will invest $1 billion to develop over 500,000 tonnes of sustainable aviation fuel annually over the next three years for global airline decarbonization.
Chempolis’ technology will process second-generation waste feedstocks and produce ethanol, furfural and pure lignin.
Chempolis Oy has pioneered lignocellulosic feedstock processing for over 15 years. The feedstock is a plant biomass that comprises cellulose, hemicellulose and lignin.
“We are excited to partner with Chempolis to advance the processing of 2G lignocellulosic feedstocks,” said AM Green Group Chairman Anil Chalamalasetty in a statement.
He added that this move underscores AM Green’s commitment to enabling global decarbonization in aviation, fuels, chemicals and other industrial sectors.
AM Green foresees a significant potential in the downstream applications of these critical products, which could pave the way for entry into multiple green-chemical value chains across various sectors, including consumer and industrial use cases.
AM Green will work with partners worldwide to establish a global bio-refinery ecosystem using a licensing model of Chempolis’ technology. This collaborative approach will accelerate the global energy transition.
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