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One of the biggest players in energy in India is setting their sights onto green ammonia. But, why?
What’s happening:
- Power utility company Torrent Energy has announced they will invest approximately $7.6B USD into new green hydrogen and green ammonia production facilities
Why it matters:
- Green ammonia is produced through using hydrogen from water electrolysis and nitrogen separated from air, which does not produce any carbon dioxide emissions into the atmosphere
- Green ammonia is also quickly becoming an important trend in venture capital and the public markets, as it has major implications for replacing traditional ammonia which is used for agriculture fertilizer and potentially accelerating the decarbonization of agriculture globally
By the numbers:
- Traditional ammonia production consumes approximately 2% of all the world’s supply of fossil fuels and also emits approximately 420M tonnes of carbon dioxide annually
- Approximately 80% of all traditional ammonia that is produced is used for fertilizer for agriculture
Going deeper:
- Torrent Energy is aiming to turn their new green ammonia production facility into one of the largest exporters of green ammonia in India
- Green ammonia also has multiple other potential applications beyond just fertilizer for agriculture, including being used in fuel cells and grid storage
The intrigue:
- The world’s first farmer-owned decentralized green ammonia system was recently installed in Manitoba, Canada which was manufactured by publicly traded green ammonia company FuelPositive (TSXV: NHHH)
