ACME Group, Japan's IHI sign MoU to explore green hydrogen opportunities

In January this year, the Indian government approved the National Green Hydrogen Mission with an initial outlay of Rs 19,744 crore.

Diversified renewable energy company ACME Group and Japan’s heavy-industry manufacturer IHI Corporation on February 21 announced signing of a memorandum of understanding (MoU) to jointly explore the potential business opportunities in green hydrogen.

“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,” said Manoj K Upadhyay, Founder & Chairman, ACME Group.

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, ACME said in a statement. Bunkering is the process of refuelling cargo vessels.

Jun Kobayashi, Executive Officer, IHI Corporation said ACME and IHI shared a vision to develop innovative solutions to produce and supply clean energy around the world.

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 said.