AM Green, a hydrogen and ammonia producer owned by the founders of Indian renewable company Greenko Energy Holdings, is planning to raise around $1 billion to fund its growing business, according to people familiar with the matter. The firm is working with an adviser on the fundraising to bolster its ability to produce green hydrogen and other chemical compounds, the people said, asking not to be identified as the information is private. AM Green aims to build a million tonnes a year of green methanol capacity, one of the people said. Singapore sovereign wealth fund GIC Pte and the renewable energy arm of Malaysian state oil giant Petronas Nasional Bhd. announced an investment in AM Green Ammonia Holdings, according to a statement Sunday confirming a Bloomberg News report. The project is set to produce 5 million tons of green ammonia a year, the statement showed. Discussions are ongoing and details of the fundraising could change, the people said. A representative for AM Green decline...

Virgin, never touched by hand, it bubbled over and lasted over 260 seconds. “It’s one of the tests of good beer, how long the head stays,” says Henk Breederveld, quality and technology manager, United Breweries. On the table is the world’s second-largest beer brand (it is manufactured in UB’s Taloja plant) showing off its stuff. And right now, it seems only right that James Bond has switched loyalties from martinis to Heineken in the upcoming movie, Skyfall. The lager may have lost its fizz, but tastes deliciously fresh, a little fruity, a little bitter. “Europeans don’t like their beer as sweet as the beers produced here,” explains Breederveld during the beer tasting. “I don’t remember, it’s that long”, he says when asked how long he has been with Heineken. He has travelled the world, setting up Heineken breweries in other countries as well. Since 2010, his destination has been India. But no matter where it goes, Heineken doesn’t change its recipe for the local palate. Everywhere it ...

MUMBAI: Grasim Industries reported a net profit of Rs 650 crore for the December quarter, up 95 per cent from Rs 334 crore in the year-ago period, helped by better operational performance. Revenue for the company rose 13 per cent to Rs 9044 crore. Analysts, on an average, had expected a profit of Rs 485.10 crore on revenue of Rs 8,629.90 crore, according to a Bloomberg poll. The consolidated results of the Aditya Birla Group company include the performance of UltraTech Cement, Viscose Staple Fibre (VSF) business and a chemical business. Grasim attributed the rise in revenue and overall profitability to the investments made by the company on capacity expansions and acquisitions in the recent past. The company said its viscose staple fibre business could see margin pressure due to poor demand end of season. However, it expects demand for caustic soda to rise further and a demand pick up for the cement business driven by government initiatives. The company recently named Dilip...