The commodity trading company Trafigura and Yara International has signed MoU to explore business in clean Ammonia.
The collaboration under the MoU will be mainly in Research and development in exploring clean ammonia to use it as marine fuel.
The President of Yara Clean Ammonia, Magnus Krogh Ankarstrand, said:
“This agreement is another good example of cross-industry collaboration to develop and promote zero-emission fuel in the form of clean ammonia for the shipping industry.
“Building clean ammonia value chains is critical to facilitate the transition to zero emission fuels by enabling the hydrogen economy – not least within trade and distribution where both Yara and Trafigura have leading capabilities.
“Demand and supply of clean ammonia need to be developed in tandem.”
The Executive Director and Co-Head of Oil Trading for Trafigura, Jose Maria Larocca, said:
“There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential.”
About Trafigura
Trafigura, one of the largest commodities trading group found in the year 1993, the company sources transports, stores and delivers raw materials like refined products, oil, minerals and metals to its clients around the globe.
About Yara
It is a Chemical company found in the year 1905 and based in Norway, It promotes eco friendly crop nutrition and energy solutions with zero emissions, the company’s main Moto is to develop digital farming tools for precision farming.
The company also hydrogen economy to drive green transition of fertiliser production, shipping etc.
