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Fortum Power and Heat Oy (“Fortum”) and certain other shareholders have sold a majority of Chempolis Oy (“Chempolis”) to AM Green Technology & Solutions B.V. (“AM Green”). The transaction includes Fortum’s biobased solutions (Bio2X) businesses, which complement the core technologies of Chempolis.
Chempolis provides groundbreaking biorefining technologies which turn biomass into high-quality products, including bioethanol, biochemicals and sulfur-free lignin. The first biorefinery utilizing Chempolis technology is under construction in India.
AM Green is an Indian energy transition solutions provider developing production capabilities for green molecules. The acquisition of Chempolis facilitates AM Green’s plan to establish large-scale biorefineries that will produce high-value products enabling decarbonization of various transportation and industrial sectors.
For Fortum, the divestment is part of an ongoing strategic review of businesses that are not in the core of Fortum’s strategy.
EY Corporate Finance acted as the exclusive financial advisor to Fortum in the transaction.
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