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AM Green Ammonia Reaches Final Investment Decision (FID) on its first million-ton green ammonia project located in Kakinada, Andhra Pradesh, India

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FID for one of the world’s largest green ammonia projects. Targets for 1 million tons annually by 2026, with a long-term goal of 5 million tons by 2030.Partners with John Cockerill for advanced pressurized alkaline electrolyzers (1.3 GW), ensuring lowest-cost green molecules through round-the-clock renewable energy (RE-RTC).Majority of production will be exported to Europe, supporting green hydrogen goals in both India and Europe, and aiding global decarbonization.

HYDERABAD, India, Aug. 27, 2024 /PRNewswire/ — AM Green Ammonia B.V. (“Company”) has achieved Final Investment Decision (FID) for its first million-ton green ammonia project located in Kakinada, Andhra Pradesh, India. FID for this project kick starts the Company’s target production capacity of 5 million tons per annum (MTPA) of green ammonia by 2030 – equivalent to about 1 MTPA of green hydrogen. The Company, in addition to its founders, has Gentari and GIC as its shareholders.

The total project spend for the plant will include a green hydrogen generation unit and it’s subsequent conversion to green ammonia, along with all associated balance of plant and infrastructure.

This project will be located at an existing urea plant in Kakinada, which the Company acquired earlier this year and forms part of the above capex spend. It plans to convert this facility into a green ammonia producing unit, which will commence production in the second half of 2026.

The Kakinada facility has been pre-certified by CertifHy as complying with the EU RFNBO requirements for green ammonia, including additionality and hourly matching of renewables. Most of the production from this facility will be exported to European markets.

The Company has already executed offtake term sheets for this project with major players such as Uniper, Yara, Keppel and others for intended end use in a range of green hydrogen applications.

The Company has secured the required 1300 MW round-the-clock carbon-free power enabled through 4500 MW solar & wind hybrid capacity in combination with 950 MW of PSP capacity. 

A 25-year fixed-price power purchase agreement (PPA) with NTPC, covering half of the above, is already in place. The remaining capacity is expected to be supplied by Gentari.

The Company has unique access to gigawatt-scale pump storage projects and a manufacturing partnership for electrolysers with John Cockerill of 2GW scale. These reliable, state of the art pressurized alkaline electrolyzers are envisioned to be deployed for this project.

Leveraging these capabilities provides solutions for the renewable intermittency issues and allows for up to 90% utilization of electrolyzers deployed, making this one of the most innovative and cost-efficient green ammonia projects globally.

In addition to the Kakinada project, the Company is also focused on the production of green ammonia across multiple locations in India to achieve its planned 5 MTPA of green ammonia capacity by 2030, which is expected to accelerate efforts to achieve net zero targets in India as well as in OECD markets. This will be equivalent to about 1 MTPA of green hydrogen, representing a fifth of India’s target for green hydrogen production under the country’s National Green Hydrogen Mission and 10 per cent of Europe’s target for green hydrogen imports by 20301.

Anil Chalamalasetty, Founder, Greenko Group & AM Green said:

“The FID status achieved by our Kakinada plant underscores our commitment to providing carbon-free energy solutions globally while meeting the highest standards like EU RFNBO norms. This is a significant milestone for AM Green as it reinforces our position as a leading energy transition solutions platform helping to decarbonize industries like refineries, shipping, fertilizers, power generation, chemicals and others through low-cost green molecules and its derivatives.”

About AM Green Group:

AM Green, incorporated by the founders of Hyderabad-based Greenko Group, Anil Chalamalasetty and Mahesh Kolli, is one of India’s leading energy transition solutions providers. AM Green is leveraging a track record of entrepreneurship in pioneering new technologies and pathways to shape the future of energy. We aim to become one of the most cost-competitive producers of green hydrogen, green ammonia, and other green molecules in the world. In India, AM Green is developing production capabilities for green molecules (green hydrogen, green ammonia, biofuels, e-methanol, sustainable aviation fuels and various downstream high value chemicals) for decarbonization in hard-to-abate industries. The venture will also set up an international renewables and storage business and a JV for making electrolyzers with John Cockerill of Belgium.

Contact
Mr Suheil Imtiaz
Sr Manager, Public Affairs & Strategic Communications
Email: suheil.m@amgreen.com
Mobile: + 91 94401 59289

1 https://gh2.org/countries/india

 

SOURCE AM Green

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Todd Tucker joins Parking Revenue Recovery Services as Chief Operating Officer to Guide Growth as PRRS expands as a Vehicle Identification and Monitoring Technology Platform

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DENVER, Nov. 15, 2024 /PRNewswire/ — Parking Revenue Recovery Services (PRRS), Inc., a leader in AI-driven compliance and vehicle activity monitoring, is pleased to announce the appointment of Todd Tucker, JD, DBA, CAPP, CPP, as its new Chief Operating Officer, effective November 15, 2024. With over 30 years of experience in the parking industry, Tucker is a recognized leader, having held various senior executive roles. Todd assumes the role of Chris Conley, who has decided to retire and enjoy some well-earned time after 30 years in the parking industry.

Before joining PRRS, Tucker served as President at Parking Logix and has been a leader in multiple tech companies focused on mobility solutions, with two leading to strategic and/or investment transaction outcomes Todd’s experience as a parking operations leader/expert and his roles spearheading the development and growth of innovative technology offerings focused on parking provide him with a unique ability to build solutions that meet the needs of today’s parking operations.

PRRS is uniquely positioned in gateless parking technology solutions through its machine vision-based technology, which identifies all vehicle activity, enhances compliance, and enables clients to expand their service capabilities. Our technology allows clients to gather valuable insights into operation and consumer activity while helping our clients improve their customer experience. With Tucker’s extensive expertise in parking technology and leadership, PRRS aims to broaden its services across North America, solidifying its status as the premier provider of gateless technology solutions to operators and facilities.

“Todd’s proven track record of driving innovation and his dedication to enhancing technology-based services make him the ideal candidate to lead PRRS into its next growth phase,” said Gabor Burchner, Managing Director, GB & Partners IM. “As the demand for adaptable technology solutions providers continues to rise, Todd’s leadership and collaborative approach will be invaluable.”

PRRS, in partnership with Asura, has successfully implemented the ARC solution and its compliance services at over 400 parking sites across 29 states. With ongoing investment from GB & Partners IM, PRRS is set to expand beyond its current identity as a “parking notice firm” to become the leading gateless technology solution for the future.

“I am thrilled to join PRRS and enhance the value we provide to our parking operating partners,” said Todd Tucker. “Throughout my career, I’ve consistently sought to challenge the status quo by delivering innovative solutions in an ever-evolving industry. PRRS is at the forefront of leveraging technology to enhance its services, and with GB & Partners IM participation, we will continue to deliver exceptional value to the parking sector and beyond. I look forward to joining the PRRS team and collaborating with our clients to push boundaries and innovate in compliance and facility monitoring services.”

About Parking Revenue Recovery Services

Parking Revenue Recovery Services, Inc. (PRRS) is North America’s leading Parking Compliance and Facility Monitoring technology provider. PRRS is on track to provide over 1,000 parking locations and proudly supports national, regional, and local parking operators throughout the United States. Our client owners and parking operators use our monitoring and compliance services in all properties, including commercial lots and garages, municipal facilities, college and university facilities, airports, hospitals, commercial properties, and residential buildings. PRRS creates exceptional value for its parking operator clients through increased overall customer compliance and enhanced visibility into operating activity and usage while delivering excellent customer service. We maximize the value provided to our clients through excellence, innovation, and efficiency in its compliance and monitoring services, delivered by an outstanding team of parking professionals dedicated to the highest levels of customers.

About Asura Technologies

Asura Technologies specializes in next-generation video analytics and license plate recognition software, utilizing AI to create smart parking, traffic management, frictionless tolling, and safety security applications. Active globally since 2018, Asura Technologies USA collaborates with PRRS to provide highly effective, automated parking enforcement solutions through innovative technology.

About GB & Partners IM

GB & Partners IM is an independent private equity and venture capital firm focused on innovative city technologies, fashion, fintech, medical technologies, and mechanical engineering. As the largest Hungarian-based firm in its sector, GB & Partners IM offers extensive leadership experience in private equity and venture capital investments, M&A transactions, and IPOs, providing operational support to investment entities by international standards. In 2019, GB & Partners IM became the first Hungarian venture capital firm to gain membership in Invest Europe.

View original content to download multimedia:https://www.prnewswire.com/news-releases/todd-tucker-joins-parking-revenue-recovery-services-as-chief-operating-officer-to-guide-growth-as-prrs-expands-as-a-vehicle-identification-and-monitoring-technology-platform-302295135.html

SOURCE Parking Revenue Recovery Services, Inc.

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Connect and Converse Across Borders with Moii: Now Available Worldwide

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SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — Moii, an innovative avatar-based interest-matching conversation service developed by tech startup illuni, has officially launched globally. Available on the Google Play Store and Apple App Store, Moii offers users a unique way to meet new friends, share stories and enjoy engaging conversations. The service allows people around the globe to experience safe, interest-based connections with like-minded people, fostering a sense of community across borders. Moii exemplifies illuni’s commitment to creating immersive digital experiences through advanced artificial intelligence (AI) technology.

To create heartfelt connections, download Moii from the Google Play Store (https://play.google.com/store/apps/details?id=com.illuni.moii&hl=en-US) and Apple App Store (https://apps.apple.com/us/app/moii-heartfelt-connections/id6456406927).

Create Moiiments, Connect Globally

In a world where genuine interaction can feel rare, Moii provides a space for simple, meaningful conversations without the pressure of video or photo sharing. By connecting users based on shared interests, Moii creates a relaxed environment for spontaneous chats, whether someone is looking for a listening ear, a language exchange, or a fresh global perspective. With engaging features such as avatar costumes and singing content in virtual karaoke – introduced in a recent November update – the app continues to attract a growing user base of young adults seeking meaningful connections beyond small talk.

“Since our global launch on the 1st of November, users from over 30 countries have come together on Moii to share interests, create unique content and enjoy friendly conversations,” said Byung-Hwa Park, CEO of Illuni. “We are thrilled by the enthusiasm for Moii as people around the world find it to be a fun and welcoming platform.”

Aimed at users in their 20s and 30s, Moii allows users to interact in a fully customizable 3D environment. Instead of revealing their actual appearance, users create avatars that reflect their personalities and interests, providing a sense of anonymity, security, and comfort. Once matched, users can personalize their avatars, use conversation cards, and enjoy mini games, making every interaction fun and engaging.

With a mission to create comfortable spaces for conversation, Moii promotes cross-cultural and language exchange on a global scale. Whether users want to make foreign friends, practice a new language, or simply chat with a friendly listener, Moii offers a low-pressure, refreshing way to connect.

Looking ahead, Illuni plans to expand Moii’s language support, making it accessible to even more users across the globe.

For more information about Moii, visit https://www.moii.net/en

About illuni

Illuni is a forward-thinking startup focused on developing immersive digital experiences through advanced AI technology. The company is committed to building innovative mixed-reality services that redefine user engagement in digital spaces. Alongside Moii, illuni’s portfolio includes Storyself (https://storyself.com), an interactive storybook app that transforms users’ pictures into story characters, allowing them to become the protagonists of various tales—making it both engaging and educational for children.

To learn more about illuni and its suite of mixed-reality projects, visit:  https://www.illuni.com/en 

For media inquiry, please contact: illuni Communications, e-mail: contact@illuni.com 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/connect-and-converse-across-borders-with-moii-now-available-worldwide-302306704.html

SOURCE illuni

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LONGi’s Solar Panels Enhance Sustainability in Bengaluru’s Residential Complex

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BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — LONGi, in partnership with SolarSquare, has completed a 342 kW solar project using advanced Hi-MO 5 solar panels for a residential apartment complex in Bengaluru.

Launched seven months ago, this solar project is set to save the residential complex up to $47,736 annually and has already generated an impressive 340,000 units of electricity. Thanks to the high efficiency of the solar modules, significant economies of scale, and the inherent advantages of rooftop solar, the project is projected to reach its break-even point within just 4.75 years.

Before the installation of the rooftop solar panels, residents faced annual electricity costs of approximately $143,305. The switch to solar energy is expected to result in annual savings between $47,768$53,768, effectively reducing their electricity expenses by around 33%.

Nikhil Nahar, Co-founder and Director of SolarSquare, stated, “Through our strategic partnership with LONGi over the years, our customers have gained access to state-of-the-art technology for their projects. LONGi’s solar panels consistently deliver performance and help our customers save on electricity bills. With a shared vision to accelerate the mass adoption of renewable energy and enhance sustainability, our partnership has continually provided innovative solutions, earning the trust of our customers.”

LONGi remains committed to delivering advanced solar technology and helping more residential complexes achieve energy independence through its highly efficient and reliable products.

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modulescommercial & industrial distributed solar solutionsgreen energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com

View original content:https://www.prnewswire.com/in/news-releases/longis-solar-panels-enhance-sustainability-in-bengalurus-residential-complex-302306744.html

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