ACME, Japan’s IHI join hands to explore opportunities in green hydrogen
The two will jointly study and evaluate potential projects with respect to collaboration opportunities across the green hydrogen and ammonia value chain, including production, handling
New Delhi: Renewable energy firm, ACME Group, and Japan’s heavy-industry manufacturer, IHI Corporation, on Tuesday said they have signed a memorandum of understanding (MoU) to jointly explore the potential business opportunities of green hydrogen.
“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 company said in a statement.
The pact allows IHI to invest in one or more project of ACME in Oman, India, the US or Egypt, it added.
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.
“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.
“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,” said Kenji Konno, Country Head Japan, ACME Group.
“ACME and IHI have a shared vision to develop innovative solutions to produce and supply clean energy to users 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,” said Jun Kobayashi, Executive Officer, IHI Corporation.
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First Published:21 Feb 2023, 03:43 PM IST
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