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.

Chris Bronsdon, CEO of Eneus Energy, said: “Eneus is on a mission to support the development of the green hydrogen economy. Green ammonia can be used as a low-cost storage and transportation vector for the supply of green hydrogen and can also be supplied into direct-use markets, for example the shipping and fertilizer industries. The potential global market demand for green ammonia is huge as decarbonization strategies are being implemented to reduce the emission of greenhouse gases from fossil fuels. The investment from Carlyle and GIC will enable Eneus to continue to develop its pipeline of projects globally, starting with the US and UK. It’s a privilege to partner with these global institutions who are deeply committed to supporting renewable energy solutions.”

Pooja Goyal, Chief Investment Officer of Carlyle's Infrastructure Group, said: “At Carlyle, we believe that if you want to decarbonize the global economy, you have to go to where the carbon is. Green ammonia represents a step-change for the energy transition with enormous decarbonization potential. Together with GIC, we are proud of our new partnership with Eneus and look forward to leveraging Carlyle’s deep energy and commodity market expertise along with renewable industry and late-stage development capabilities to help the Eneus team execute its ambitious vision.”

Ang Eng Seng, Chief Investment Officer of Infrastructure at GIC, said: “The investment in Eneus reflects GIC’s continued deep commitment to renewable energy innovation and global decarbonization efforts. This is a strategic investment to position GIC early for the green hydrogen market which we believe will play a crucial role in the transition to clean energy. We believe that Eneus has the potential to be a key player in the green hydrogen ecosystem.”