ACME and IHI sign MoU for green hydrogen and ammonia businesses

ACME Group, a renewable energy company based in Gurugram, and IHI Corporation, a heavy industry manufacturer based in Japan, announced that they had signed a Memorandum of Understanding (MoU) to collaborate on a study of the potential commercial opportunities of green hydrogen.

In line with the MoU, the two companies will conduct a joint study and evaluation of potential projects in the green hydrogen and ammonia value chain.

The MoU enables IHI to participate as an investor in one or more ACME projects in Oman, India, the United States or Egypt, as stated in the official press release. It also said the two companies would look at ways to work together to provide customers with a comprehensive integrated solution that includes bunkering, green ammonia supply and products or solutions for a variety of applications.

Manoj K. Upadhyay, founder and chairman of ACME Group, stated: "We will explore opportunities together in the green hydrogen and ammonia value chain, including manufacturing, handling, transportation, distribution and power generation."

According to Jun Kobayashi, executive officer of IHI Corporation, ACME and IHI share a vision to develop new strategies for producing and delivering clean energy to users around the world.