Japanese Itochu-led group edges towards R108bn green ammonia deal in SA
A unit of Hive Energy Ltd. says a group led by Japanese trading house Itochu Corp. is nearing an agreement to buy green ammonia from a project in South Africa.
Securing an offtake agreement — few of which have been signed in the nascent green-hydrogen industry — improves the viability of projects and makes them more attractive to financiers and investors.
Green hydrogen, which burns without producing climate-warming greenhouse gases, is produced by splitting water using renewable energy. It can then be converted into ammonia, which is easier to transport, has higher energy density than hydrogen and doesn’t require cooling to extreme temperatures.
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