ACME, IHI Corp Collaborate To Explore Opportunities In Green Hydrogen

Gurugram headquartered diversified renewable energy company ACME Group and Japan’s comprehensive heavy-industry manufacturer IHI Corporation have announced the signing of an MoU to jointly explore the potential business opportunities of green hydrogen.

As per ACME, the intent of this MOU is to jointly study and evaluate potential projects with respect to collaboration opportunities across the green hydrogen and ammonia value chain, including production, handling, transportation, distribution, and power generation.

The MoU allows IHI to participate as an investor or take offtake in one or more project of ACME in Oman, India, USA or Egypt. Both the Companies will also explore opportunities to jointly offer a complete integrated solution to customers from green ammonia supply, bunkering and products or solutions for various applications.

Manoj K Upadhyay, Founder & Chairman, ACME Group, said, “We will together explore opportunities across the green hydrogen and ammonia value chain, including production, handling, transportation, distribution, and power generation.”

Kenji Konno, Country Head Japan, ACME Group said, “This collaboration will strengthen ACME Group’s innovative problem-solving approach by leveraging IHI’s technologies in ammonia value chain.”

Jun Kobayashi, Executive Officer, IHI Corporation, commented, With ACME’s extensive experience in developing renewable energy projects and solutions, IHI’s understanding of the green ammonia value chain, and both companies’ passion and willingness to proactively tackle societal challenges and be at the forefront of infrastructure development, we possess the capability to lead the transition to carbon-free ammonia usage across a wide variety of industries.”

ACME Group claims to be a pioneer in cleantech sectors such as solar and green hydrogen & ammonia. The company delves in the solar sector and has projects across 12 States and capex invested and committed of nearly $8 billion.

In 2022, ACME had signed multiple agreements aimed at green hydrogen development. In June, the group had inked an MoU with the Tamil Nadu government constructing a green ammonia and green hydrogen manufacturing plant in the port town of Thoothukudi with an investment of Rs 52,474 crore.

ACEM signed a separate deal with the Karnataka where it will be investing Rs 51,865 crore over five years in green hydrogen and ammonia plant. The company also signed a land agreement to set up one of the world’s largest green ammonia projects at Special Economic Zone at Port of Duqm, Oman.