ACME Group, a leading renewable energy company in India, and IHI Corporation, a Japanese integrated heavy industry group, today signed an offtake term sheet for supply of green ammonia from Odisha, India to Japan. The term sheet was signed by Shri Manoj Upadhyay, Founder and Chairman of Acme Group and Shri Hiroshi Ide, President and CEO of IHI Corporation, in the presence of Hon’ble Minister Shri RK Singh, Respected Secretary MNRE Shri Bhupinder Singh Bhalla, and H.E. Hon’ble Ambassador of Japan to India Shri Hiroshi Suzuki.

The senior management of both the companies’ earlier visited Bhubaneswar and sought the guidance and support from Hon’ble Chief Minister of Odisha, Shri Naveen Patnaik and other officials of Government of Odisha. The green hydrogen and ammonia project at Gopalpur, Odisha is being developed by ACME with a planned capacity of 1.2 MMTPA to be developed in phases; and the first production likely within 2027. Over its life cycle, the project will help reduce global GHG emissions by 54 million tons of CO2 equivalent.

The term sheet between IHI and Acme covers the supply of 0.4 MMTPA of green ammonia from Phase-1 of Odisha project on a long-term basis. Both companies wish to partner across the value chain, starting from production to logistics, supply to the Japanese customers and to create the market for green ammonia for use in a range of applications in power generation and various industrial uses in Japan to reduce the overall emissions. This strategic alignment represents the dedication of both companies to build upon the existing strong relationship between the two countries and contribute to both India’s National Green Hydrogen mission as well as Japan’s Net Zero commitment, with a shared vision of sustainability and innovation.

Speaking on the occasion, Shri Ashwani Dudeja, President and Director, Acme Group said, “India is well positioned to develop the renewable resources and produce competitive green molecules for export as well as domestic consumption in applications which are otherwise difficult to decarbonise”. He also emphasised the need for support from the Government of India and Government of Odisha in developing the green ammonia project at Gopalpur.

Shri Jun Kobayashi, Director and Managing Executive Officer, IHI Corporation said, “This agreement builds upon our earlier MoU with ACME and represents the strong relationship and alignment between the two companies in developing the market for this new generation fuel”.

About ACME:

Acme Group is one of the largest renewable Independent Power Producer in India with a portfolio of more than 5 GWp of renewable energy capacity under operation and various stages of implementation. In 2021, Acme built what is perhaps the world’s first Green Ammonia plant in Bikaner, Rajasthan. Drawing upon its experience and strengths, ACME aspires to become a leading green energy provider from electrons to molecules and is developing several green hydrogen and ammonia projects in India, Oman and USA with an aim to have a portfolio of c. 10 MMTPA of green ammonia or equivalent hydrogen/derivatives by 2032. In line with the Government of India’s mission to establish India as a hub for green fuels, Acme is working with many potential customers in India to supply green hydrogen and ammonia. Acme has a global footprint with offices and representatives in Japan, Middle East, Europe and USA for the marketing and supply of green hydrogen and its derivatives to the international markets. For more information, please visit http://www.acme.in

About IHI:

IHI is a preeminent Japanese integrated heavy industry group that originated in 1853 and leveraged its shipbuilding technology to expand into onshore machinery, bridge, plant, aeroengine, and other manufacturing fields. IHI has provided various solutions in the Resource, Energy and Environment; Social Infrastructure; Industrial Systems and General-Purpose Machinery; and Aero Engine, Space and Defense business segments. It is developing technology for ammonia firing and is constructing a carbon-free fuel ammonia supply chain to help decarbonise the economy. For more information about IHI, please visit: https://www.ihi.co.jp/en/

For any queries, please mail at: pr@acme.in