{"id":89799,"date":"2023-07-31T01:13:10","date_gmt":"2023-07-30T22:13:10","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=89799"},"modified":"2023-07-31T01:20:49","modified_gmt":"2023-07-30T22:20:49","slug":"allianz-to-invest-eur-20-m-in-norwegian-green-ammonia-production-plants-developer-fuella","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/allianz-to-invest-eur-20-m-in-norwegian-green-ammonia-production-plants-developer-fuella\/","title":{"rendered":"Allianz to invest EUR 20 m in Norwegian green ammonia production plants developer Fuella"},"content":{"rendered":"

Allianz<\/a> Capital Partners, on behalf of Allianz insurance companies (\u201cAllianz\u201d), will provide funding of EUR 20 million to support the Norwegian project developer Fuella AS (\u201cFuella\u201d)<\/a> \u2013 which is an independent developer of commercial-scale green hydrogen and green ammonia projects.<\/p>\n

The funding will\u00a0support the Company\u2019s project pipeline towards execution and to accelerate the business\u00a0development. Within the pre-agreed framework Allianz will be able to invest in Fuella\u2019s pipeline\u00a0of projects.<\/p>\n

Fuella is at the forefront of driving the energy transition by spearheading the development of\u00a0commercial-scale green ammonia production plants, facilitating the shift towards emission-free\u00a0fuels in Norway, and beyond. Ammonia stands out as a hydrogen derivate due to its relatively\u00a0high energy density, favorable combustion properties, convenient storage characteristics, and an\u00a0established infrastructure and market. Notably, the production of green ammonia relies solely\u00a0on air, water, and renewable electricity which makes it play a significant role in the transition to\u00a0environmentally friendly fuels.<\/p>\n

Fuella aims to develop a series of green ammonia projects, leveraging a scalable technology\u00a0platform that allows for replication across future endeavors while achieving cost-effective\u00a0production. The company’s initial emphasis lies in the identification of ideal production locations\u00a0characterized by three critical factors: access to affordable renewable electricity, robust grid\u00a0capacities, and efficient offtake and transport routes. These elements are paramount for\u00a0establishing green ammonia plants that yield -a high quality commodity at competitive prices.<\/p>\n

\u201cFuella is our second direct investment into green hydrogen and is building upon our most recent\u00a0investment in Finnish green power-to-gas developer Ren-Gas. The investment in Fuella aligns\u00a0perfectly with our overall energy transition infrastructure investment strategy and underlines the\u00a0importance we attribute to green molecules for the energy transition in Europe,\u201d said\u00a0Michael\u00a0Pfennig, Co-Head of Infrastructure at Allianz Capital Partners.<\/p>\n

\u201cWith our second power-to-gas platform investment in the Nordics we underline the great\u00a0potential we see for the production of green molecules in the region. We are very proud of\u00a0partnering with the innovative and motivated team of Fuella and look forward to driving the\u00a0expansion of this promising platform with many more projects in the future.\u201d, said\u00a0Igor Lukin,\u00a0Senior Portfolio Manager at Allianz Capital Partners.<\/p>\n

\u201cNorway is very well positioned for the production of green molecules. We are delighted to have\u00a0Allianz as our partner in accelerating the development of our green ammonia projects. Their\u00a0investment and expertise in the energy transition sector will significantly enhance our capabilities\u00a0and expedite the execution of our project portfolio\u201d, said\u00a0Cornel Russi, Co-CEO of Fuella.<\/p>\n","protected":false},"excerpt":{"rendered":"

Allianz Capital Partners, on behalf of Allianz insurance companies (\u201cAllianz\u201d), will provide funding of EUR 20 million to support the Norwegian project developer Fuella AS (\u201cFuella\u201d) \u2013 which is an independent developer of commercial-scale green hydrogen and green ammonia projects. The funding will\u00a0support the Company\u2019s project pipeline towards execution and to accelerate the business\u00a0development. Within […]<\/p>\n","protected":false},"author":410,"featured_media":89806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13330,984],"tags":[7862,14092,14033],"yoast_head":"\nAllianz to invest EUR 20 m in Norwegian green ammonia production plants developer Fuella - Csr Egypt<\/title>\n<meta name=\"description\" content=\"Allianz will provide funding of EUR 20 million to support the Norwegian project developer Fuella AS (\u201cFuella\u201d) \u2013 which is an independent developer of commercial-scale green hydrogen and green ammonia projects.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/allianz-to-invest-eur-20-m-in-norwegian-green-ammonia-production-plants-developer-fuella\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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