ECONNECT Energy's Azane Fuel Solutions’ first project “Ammonia Fuel Bunkering Network”, which will build a green ammonia bunkering terminal, has been awarded NOK 89 million (EUR 8,600,000) through the Norwegian Green Platform Initiative, as announced by Minister of Climate and Environment in Norway, Mr. Sveinung Rotevatn.
World’s First Green Ammonia Terminal Receives Large Governmental Grant
The project partners, spanning the entire value chain for ammonia as a marine fuel, will develop and demonstrate an ammonia fuel bunkering network for ships, enabling cost efficient and safe distribution, storage, transfer and utilization of ammonia as a carbon free fuel.
With this public funding the project is on track to be the first in the World to pilot ammonia bunkering operations – taking the first step to enable a large-scale shift to carbon free fuel for ships.
"The Norwegian government established the “Green platform Initiative” program to help lift exactly this type of innovative project. Ammonia is important for the green transition, especially for the shipping industry. We will decrease emissions, not development," says Sveinung Rotevatn, Norwegian Minister of Climate and the Environment.
Minister of Trade and Industry Iselin Nybø (V) comments: "Congratulations to Azane Fuel Solutions on such a large allocation from the Green Platform. The government's wish has been that we use the crisis to speed up the green shift as well. This project can give us the world's first bunkering terminal for green ammonia fuel for ships. This is a green change in practice and the business community is leading the way."
"Azane Fuel Solutions will develop, build and operate the first bunkering terminal in a Norwegian port, under real conditions. This first green ammonia terminal will be an important enabler for international adoption of ammonia fuel," says Miriam T. Wennberg, CFO at ECONNECT Energy.
"We are removing the famous chicken-and-egg dilemma for new fuels. Ammonia already has a global bulk terminal network. Now we will start building the bunkering network," says André Risholm, CEO at Amon Maritime and Chairman at Azane Fuel Solutions.
"This grant is an important milestone for the project," says Magnus Krogh Ankarstrand, President Yara Clean Ammonia. "Developing bunkering solutions is a key piece of the puzzle to make ammonia available as a zero-emission fuel. Yara is excited to be a part of the project and leverage our global ammonia production and shipping experience."