Global law firm Ashurst has advised GIC on its strategic investment, alongside global investment firm Carlyle, in Eneus to support the development of a 14GW+ pipeline.
Eneus is amongst a small cohort of first movers for industrial scale production plants in a global market for green ammonia and/or green hydrogen that is forecast to grow strongly to 2050, as the world’s leading nations execute their “net zero” carbon strategies. Green ammonia is a zero-carbon fuel in its own right, as well as an important, cost-effective storage and transport energy vector for green hydrogen.
Since its establishment in 2013, Eneus has developed significant expertise and industry connections to deliver viable green ammonia production sites. The committed capital will finance Eneus’s development of a portfolio of green ammonia projects globally.
The Ashurst team was led by partner and co-head of energy Michael Burns and senior associate Quentin Robinson.
Commenting Michael Burns said:
“Investment into new low carbon fuels including green ammonia and green hydrogen will be key in decarbonising energy systems, including heat and transport, and help sustain the push towards net zero. We are delighted to have assisted GIC on such a strategically important investment as part of their commitment to renewable energy innovation and global decarbonisation efforts.”