22 Feb 2023
ACME Group, a diversified renewable energy company, and Japanese heavy-industry manufacturer, IHI Corporation, have signed a memorandum of understanding (MoU) to explore potential business opportunities in green hydrogen. The partnership will allow IHI to invest in or take offtake in one or more ACME projects in Oman, India, the United States, or Egypt.
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. Bunkering is the process of refuelling cargo vessels.Â
Both companies have a shared vision of developing innovative solutions to produce and supply clean energy around the world. ACME's extensive experience in developing renewable energy projects and solutions, along with IHI's understanding of the green ammonia value chain, will enable them to lead the transition to carbon-free ammonia usage across a wide variety of industries.Â
"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. Jun Kobayashi, Executive Officer, IHI Corporation, praised the partnership and said that both companies possess the capability to be at the forefront of infrastructure development.Â
Green hydrogen and ammonia are seen as essential components of a sustainable energy future, with their production and use being critical to the decarbonization of many industries. The partnership between ACME and IHI represents an important step towards developing solutions for producing, storing, and transporting green hydrogen and ammonia.