India-headed AM Green Technology and Solutions B.V., part of AM Green Group (AM Green), a leading energy transition solutions provider, has announced the signing of binding agreements to acquire the Finnish biorefining technology developer Chempolis Oy, its subsidiary Chempolis India Pvt Ltd, and the Fortum 3 B.V. entities.
According to a statement, this acquisition the value of which has not been disclosed highlights AM Green’s commitment to developing innovative technology-enabled solutions.
The venture is indirectly wholly owned by the founders of Greenko Group, one of India’s leading renewable energy companies and a major global player focusing on clean energy solutions.
AM Green will establish large-scale biorefineries that utilize multiple feedstocks and produce high-value green products enabling global decarbonization in aviation, fuels, chemicals, and other industrial sectors.
Lignocellulosic feedstock processing pioneer
Chempolis is a pioneer in lignocellulosic feedstock processing with research, technology capabilities, and product development expertise spanning over fifteen years with strong R&D teams.
The concurrent transfer of Fortum Bio2X to Chempolis is the final step in deepening the years-long collaboration between the parties. With the transaction, the formerly separate entities will now function as one company.
The cooperation between Chempolis and Fortum Bio2X started already in 2015, and the companies have worked on joint projects for several years.
Bio2X brings to Chempolis its valuable expertise in product and business development, which complements Chempolis’ core technologies.
Chempolis’s technology will enable the processing of multiple 2G waste feedstocks and the production of high-value green chemicals and products such as ethanol, furfural, and pure lignin, accelerating AM Green’s vision to become the world’s leading industrial decarbonization platform.
We want to warmly thank Chempolis’ previous owners for their trust and excellent collaboration throughout our long journey together. We are also excited and look forward to the collaboration with AM Green, as Chempolis will be at the centre of AM Green’s future strategic goals, said Heli Antila, CEO of Chempolis.
Establish a global biorefinery ecosystem
AM Green foresees a significant potential in the downstream applications of these key products, which could pave the way for entry into multi-green-chemical value chains across multiple sectors, including consumer and industrial use cases.
Today, Chempolis has large-scale projects in India with Assam Bio Ethanol Pvt Ltd and National Thermal Power Corporation Ltd (NTPC) as well as in Finland with NordFuel Oy.
Assam Bio Ethanol will be the first biorefinery in the world to produce cellulosic ethanol and bio-based chemicals from bamboo.
Moreover, Chempolis has partnered with NTPC to explore the feasibility of setting up another bamboo-based biorefinery in the state of Assam.
Earlier this year, NordFuel selected Chempolis as the technology provider for their Haapavesi bioproduct plant, and the collaboration towards commercialization continues.
In the pipeline, the company also has several other promising projects underway across Asia, Europe, and the Americas. The outlook for Chempolis and its operations looks very bright, as it continues the work with the aim of a purer future.
We have an excellent new owner and a skilled team working with our solutions. Thus, we now have the whole package to answer to the rising market demand. The timing is truly right for scaling up our technology and solutions, Heli Antila said.
Plan to invest US$1 billion to develop SAF
AM Green will work with partners worldwide to establish a global biorefinery ecosystem using a licensing model of Chempolis’s technology. This collaborative approach will accelerate the global energy transition.
Large-scale biorefineries being developed with Chempolis technology help serve the critical upstream feedstock processing which is further valorized into downstream chemicals and fuels including sustainable aviation fuel (SAF).
AM Green says that it will invest around US$1 billion to develop over 500,000 tonnes per annum of Alcohol-to-Jet (ATJ) SAF capacity by 2027 for global airline decarbonization.
AM Green will further advance the platform’s technological capabilities to process a wider range of feedstocks, transforming them into high-value green products tailored for diverse consumer and industrial applications.
We are excited to partner with Chempolis to advance the processing of 2G lignocellulosic feedstocks. This highlights our commitment to developing innovative, technology-enabled solutions to establish large-scale biorefineries that utilize multiple feedstocks & produce high-value green products enabling global decarbonization in aviation, fuels, chemicals, and other industrial sectors, said Anil Chalamalasetty, Group Chairman of AM Green.
