Atlas Agro says Australia's Macquarie to invest $325 MM for fertilizer plants in U.S.
(Reuters) - Fertilizer maker Atlas Agro Holding AG said on Monday that Australia-based Macquarie Group's asset management arm will invest $325 MM in the company and its affiliated project entities.
The company said it is building green nitrogen fertilizer plants in the U.S. and Latin America locally in agricultural regions at an industrial scale, which will utilize green hydrogen in the production process to displace imported products with carbon footprint.
Fertilizer companies are racing to build plants along the U.S. Gulf of Mexico to produce ammonia, a compound mainly used in fertilizer, while reducing carbon dioxide emissions.
The companies have focused on the U.S. Gulf Coast to take advantage of Inflation Reduction Act subsidies and the existing export infrastructure.
Companies like Exxon Mobil and Air Products and Chemicals are also planning low-emission ammonia projects in the region.
Atlas Agro had in April signed an agreement with engineering solutions firm KBR for its green ammonia technology for the factories, which will produce its zero-carbon nitrogen fertilizers.
Macquarie Asset Management has investments in portfolios including infrastructure, green investments and renewables, real estate, and agriculture and natural assets.
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