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In a significant move towards sustainable energy, Japanese engineering conglomerate IHI has signed a term sheet to off-take 400,000 tonnes of renewable hydrogen-based ammonia annually from ACME's expansive project in Odisha, India. This agreement marks a pivotal development, as IHI has also secured a 30% stake in the joint venture, aptly named ACME Clean Energy.

Under the terms, ACME will retain the majority share with 70%. The project has garnered interest from several other Japanese firms, as ACME explores opportunities for collaboration with five additional companies, each considering their potential involvement in this innovative venture. This collaboration highlights the growing international interest in green hydrogen solutions as the world shifts towards cleaner energy sources.