ACME, IHI Corporation’s Green Ammonia JV achieves ‘significant milestones’

ACME Clean Energy Private Ltd, a 70:30 joint venture between India’s ACME Group and Japan’s IHI Corporation, currently developing India’s largest green ammonia project in Gopalpur, Odisha, said the project had achieved “significant milestones” since the signing of their initial Memorandum of Understanding (MoU) in 2023.

“The project has achieved significant milestones, including the establishment of a joint venture partnership, necessary land for the project has been secured, and the Front-End Engineering Design (FEED) has been successfully completed by a reputed global engineering firm,” the company said in a statement.

“This collaboration between ACME Group and IHI Corporation is key in advancing the vision of the India–Japan Clean Energy Partnership, contributing to sustainable energy solutions and strengthening bilateral ties,” it added.

At the 15th Japan–India Annual Summit held in Tokyo on August 29-30, 2025, Prime Minister Narendra Modi and Japan’s Prime Minister Shigeru Ishiba adopted a Joint Declaration of Intent on Clean Hydrogen and Ammonia as part of the bilateral Clean Energy Partnership.

The ACME–IHI collaboration directly supports this shared vision by creating a large-scale supply chain for Green Ammonia between India and Japan, the company said.

ACME Group and IHI Corporation joint venture supports the National Green Hydrogen Mission’s target to make India a major producer and exporter of green hydrogen and derivatives, while strengthening Japan’s sourcing strategy for clean fuels to decarbonize its power generation and industrial sectors.

Manoj Kumar Upadhyay, Chairman, ACME Group, “Amidst the growing need for decarbonization, India and Japan face similar concerns around energy security and sustainability. Our joint venture is a milestone not only for ACME Group but for India’s journey towards becoming a global leader in green hydrogen and green ammonia.”

“Together with IHI, we will build a future-ready ecosystem that strengthens energy security, generates employment, and contributes to the global fight against climate change,” he added.

Hiroshi Ide, President and CEO, IHI Corporation in a statement said, “Through this collaboration, we aim to secure green ammonia fuel value chains that will benefit both India and Japan, while supporting global decarbonization goals.”

According to the joint venture arrangement, ACME and IHI will jointly establish the green ammonia project for supply to Japanese domestic industry across diverse fields including power generation and chemical industries.