BERLIN - 18 July 2024 - Greenberg Traurig advised Fertiglobe, one of the world's largest seaborne exporters of urea and ammonia combined, and an early mover in sustainable ammonia in securing a long-term supply contract for hydrogen-based green ammonia, valued at up to € 397 million.

This tender, the first of its kind, was conducted by the German H2Global Foundation through its subsidiary Hint.co GmbH (Hintco). The H2Global support program fosters the market ramp-up for hydrogen-based products by bridging the price gap between global supply and EU demand.

Fertiglobe was awarded the contract to supply renewable ammonia for € 1,000 euro per ton until 2033. To produce the required renewable ammonia, Fertiglobe, in collaboration with project partners, will undertake the Egypt Green project in Egypt. The secured off-take volumes guaranteed by this supply contract are crucial for the final investment decision expected in the first half of 2025.

Greenberg Traurig advised Fertiglobe throughout the procurement process and contract negotiations with H2Global, including detailed contractual structuring.

Fertiglobe's production capacity comprises 6.6 million tons of urea and merchant ammonia, produced at four subsidiaries in the UAE, Egypt, and Algeria. Headquartered in Abu Dhabi and incorporated in Abu Dhabi Global Market, Fertiglobe has more than 2,700 employees.

H2Global's mission is to accelerate the emergence of markets for clean hydrogen and other zero- and low-emission technologies worldwide. H2Global achieves this through market-based instruments, such as the H2Global mechanism, implemented by its subsidiary, Hintco.

Background:

Greenberg Traurig's energy law team focuses on advising on transactions, including joint ventures, partnerships, corporate reorganizations, and projects in regulated industries. The engagement was initiated through a recommendation from the industry.

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