LOTTE Chemical and CIP Join Forces for Clean Ammonia Projects
Leading players in the renewable energy sector, Copenhagen Infrastructure Partners (CIP) and LOTTE Chemical Corporation, have committed to partnering on multiple clean ammonia projects. They have established an understanding to collaborate on the production, procurement, and marketing of both blue and green ammonia. This partnership focuses on two major projects based in the U.S. and Australia.
CIP’s St. Charles and Murchison Projects Comes Under the Collaboration
CIP’s ‘St. Charles Project’ in Louisiana, U.S. centers around producing blue ammonia, whereas ‘The Murchison Project’ based in Australia will focus on green ammonia production. The understanding also encompasses exploration of global low carbon ammonia project development and investment, with an emphasis on bunkering infrastructure.
Korea’s Growing Market for Clean Ammonia
JinKoo Hwang, LOTTE’s CEO, stresses the accelerated growth of the clean hydrogen and ammonia market in Korea, which is bolstered by significant governmental policies. Søren Toftgaard, CIP Partner, talks about blue and green ammonia’s coexistence as part of the energy transition and his optimism for potential opportunities in the U.S., Europe, and Asia.
Pooling Resources for Future Sustainable Solutions
The partnership aims to utilize the expertise and strengths of both companies. This collaboration intends to pave the way for the production of sustainable clean ammonia solutions and build industry leadership in this domain.
About LOTTE and CIP
- LOTTE Chemical Corporation is a top-tier Korean chemical company that places a keen focus on hydrogen energy for global clean energy supply and carbon-reduced growth. The company is making strides towards crafting a green circulating ecosystem.
- Established in 2012, Copenhagen Infrastructure Partners (CIP) is the largest dedicated fund manager globally in greenfield renewable energy investment. This company diligently focuses on various energy and infrastructure projects worldwide.
