ACME Group, a renewable energy company based in Gurugram, and IHI Corporation, a heavy-industry manufacturer based in Japan, announced that they had signed a memorandum of understanding (MoU) to collaborate on an investigation of green hydrogen's potential commercial opportunities.
In accordance to the MoU The two companies will carry out a joint study and evaluation of potential projects throughout the green hydrogen and ammonia value chain
The MoU allows IHI to participate as an investor in one or more ACME projects in Oman, India, the United States, or Egypt, as stated in the official press release. It also said that the two companies would look into ways to work together to provide customers with a comprehensive integrated solution that includes bunkering, green ammonia supply, and products or solutions for a variety of applications.
Manoj K. Upadhyay, Founder and Chairman of ACME Group, stated, "We will together explore opportunities across the green hydrogen and ammonia value chain, including production, handling, transportation, distribution, and power generation."
According to Jun Kobayashi, executive officer of IHI Corporation, ACME and IHI share a vision to develop novel strategies for producing and supplying clean energy to users worldwide.
