Giant producer and shipowner Yara international is planning a spin-off for its green ammonia business as it furthers its hydrogen economy ambitions.

The Oslo-listed group said it is evaluating an initial public offering (IPO) for the Yara Clean Ammonia (YCA) operation on the Oslo Stock Exchange.

The deal would be aimed at bringing in minority investors and reflects Yara’s strategic ambition to “enable the hydrogen economy”, the company added.