The ACME Group and Indian Gas Exchange (IGX) have signed an MoU to work together and collaborate for the establishment of the green hydrogen and ammonia market in India. The objective of both companies is to establish a physical trading market for clean molecules throughout the country. This initiative will commence with regional hubs situated in close proximity to hydrogen and ammonia projects, eventually expanding to a nationwide hub.
The MoU between IGX and ACME encompasses collaboration throughout the entire value chain of hydrogen and ammonia, spanning from production to logistics and supply for industrial customers. The aim is to utilise these substances in various applications, thereby contributing to the reduction of overall emissions and aligning with national decarbonisation targets.
In January 2024, ACME group signed an offtake term sheet with Japan’s IHI Corporation to deliver green ammonia from Odisha to Japan.
In August 2023, a land agreement was signed by the ACME Group with Tata Steel Special Economic Zone Limited for development of green hydrogen and green ammonia project on 343 acres of land at the Gopalpur Industrial Park in Ganjam district of Odisha.
In July 2023, ACME Group secured funding of Rs 40 billion for its green hydrogen and green ammonia project in Oman from REC Limited.
