ACME, IHI to jointly explore opportunities in Green Hydrogen & Ammonia value-chain
India-based diversified renewable energy company ACME Group and Japan's comprehensive heavy-industry manufacturer IHI Corporation have recently announced signing of a MoU to jointly explore the potential business opportunities of green hydrogen and its derivatives.
The agreement paves way for IHI to participate as an investor or take offtake in one or more project of ACME in Oman, India, USA or Egypt. The companies will jointly study and evaluate potential projects across the green hydrogen and ammonia value chain, including production, handling, transportation, distribution, and power generation.
Further, 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, according to their joint press statement.
Manoj K Upadhyay, Founder and Chairman, ACME Group said, "I would like to thank IHI for their commitment to develop renewable projects with us. We will together explore opportunities across the green hydrogen and ammonia value chain, including production, handling, transportation, distribution, and power generation."
Commenting on the development, Jun Kobayashi, Executive Officer, IHI Corporation said, "ACME and IHI have a shared vision to develop innovative solutions to produce and supply clean energy to users around the world".
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"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", he noted.
ACME's Country Head- Japan, Kenji Konno, commented, "This collaboration will strengthen ACME Group's innovative problem-solving approach by leveraging IHI's technologies in ammonia value chain. We hope that this collaboration will pave the way to achieve our early global implementation of green and sustainable energy transition.