Affinity Capital Group, Perth, Australia, has been appointed strategic advisor and lead manager for raising capital for the Allied Green Ammonia (AGA) project at Nhulunbuy on the Gove Peninsula in Australia’s Northern Territory.
According to AGA Founder and Managing Director Alfred Benedict, Affinity has already secured commitments for financing the first stage of the project. The planned facility is expected to produce 950,000 mt/y of green ammonia and is in a strategic location due to its proximity to Asia. AGA previously put the investment requirement at an estimated $8.5 billion (GM Sept. 29, 2023).
AGA in May signed a Memorandum of Understanding (MoU) with Plug Power for the supply of up to 3 GW electrolyzer capacity (GM May 10, p. 27). Independent ammonia trader Trammo has since signed an MoU to purchase up to 100% of the renewable ammonia generated by the facility (GM Aug. 9, p. 24). First sales are expected in late 2028.