The companies revealed today (February 21) they had signed a Memorandum of Understanding (MoU) 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.
H2 View understands, the agreement allows IHI to participate as an investor or offtaker for one or more projects, developed by ACME in Oman, India, the US, or Egypt
ACME in 2021 announced plans for a $2.5bn 2,200 million tonne per day green ammonia project in Oman. In June last year (2022), the Group unveiled plans for a $6.7bn green hydrogen and ammonia project in the Indian state of Karnataka.
Read more: Plans for $2.5bn hydrogen facility in Oman unveiled
Read more: India to gain $6.7bn green hydrogen and green ammonia project
The partners have also said they will explore opportunities to jointly offer a complete integrated solution to customers for green ammonia supply, bunkering, and products or solutions for various applications.
“This collaboration will strengthen ACME Group’s innovative problem solving approach by leveraging IHI’s technologies in the ammonia value chain,” said Kenji Konno, Country Head Japan at ACME Group. “We hope that this collaboration will pave the way to achieve our early global implementation of green and sustainable energy transition.”
In October (2022), the Japanese company joined the CEO-led Hydrogen Council as a steering member.
Read more: Hydrogen Council gains four new members
Jun Kobayashi, Executive Officer at IHI Corporation, commented, “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.”
Manoj Upadhyay, founder and Chairman of ACME Group, added, “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.”
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