Scotland-based green ammonia developer Eneus Energy has secured backing from global investment firms Carlyle and GIC.

Eneus says it will use the new investment to support the development of its project pipeline, which amounts to more than 14GW of production capacity, focused initially on the US and the UK.

The company says it has a portfolio of production site opportunities already under development in the US and has identified additional sites in the UK and elsewhere in Europe. The size of the investments by Carlyle and GIC were not disclosed.

“The potential global market demand for green ammonia is huge as decarbonisation strategies are being implemented to reduce the emission of greenhouse gases from fossil fuels,” says Chris Bronsdon, CEO of Eneus.

Washington-based Carlyle described green ammonia as a having “enormous decarbonisation potential”.

“Together with GIC, we are proud of our new partnership with Eneus and look forward to leveraging Carlyle’s deep energy and commodity market expertise… to help the Eneus team execute its ambitious vision,” says Pooja Goyal, chief investment officer of Carlyle’s infrastructure group.

Eneus was founded in 2013 and is chaired by Graeme Sweeney, former head of global renewables at Shell.

“This is a strategic investment to position GIC early for the green hydrogen market, which we believe will play a crucial role in the transition to clean energy. We believe that Eneus has the potential to be a key player in the green hydrogen ecosystem,” says Ang Eng Seng, chief investment officer of Infrastructure at Singapore-based GIC.

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Author: Stuart Penson