Macquarie Asset Management’s energy transition solutions fund is investing up to $325m (€296m) in green-nitrogen fertiliser plants in the US and Latin America via Atlas Agro.

The manager’s Macquarie GIG Energy Transition Solutions is investing in Atlas Agro and affiliated project entities to help the company achieve its plan of providing a sustainable alternative to conventional fossil fuel-based fertiliser products, which contribute heavily to greenhouse gas emissions.

Atlas Agro is building industrial-scale green-nitrogen fertiliser plants which will utilise green hydrogen in its production process, in lieu of conventional nitrogen fertiliser production utilising fossil fuels.

William Demas, senior managing director at Macquarie Asset Management, said: “Atlas Agro has a highly experienced management team with strong credentials and expertise in developing, building and operating fertilizer plants with a reduced environmental impact.

“We look forward to working with the company to fulfil our shared vision of driving the next phase of energy transition.”

Petter Østbø, CEO of Atlas Agro, said: ”Macquarie, with their experience in projects and infrastructure, ability to initiate support investments with a wide range of expertise and their commitment to accelerate decarbonisation of hard-to-abate industries, is an ideal partner for us as we approach construction of our first plants in the US.”

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