ACME Cleantech’s subsidiary GHC SAOC has signed a firm and binding agreement with Norwegian crop nutrition company Yara for long-term supply of ammonia with reduced CO2 emissions. This agreement comes after 18 months of negotiations at a time during when the regulatory framework and certification regime are more conducive for such contracts.
This agreement covers the supply of 100,000 tons per annum of green ammonia. This ammonia will be taken from Phase-1 of ACME’s Oman project with an expected start date in 2027. It will help reduce global GHG emissions by up to 5.0 million tons of CO2 equivalents over its life cycle.
In February 2024, the ACME Group and Indian Gas Exchange (IGX) 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.
