Japan’s IHI has signed a Memorandum of Understanding with India’s ACME Group - the developer of two large scale green hydrogen projects in Oman and Egypt- to explore offtake and investment opportunities in the former’s green hydrogen projects in Oman, India, USA and Egypt.

The MOU intends to jointly study and evaluate potential projects and collaboration opportunities across the green hydrogen and ammonia value chain, including production, handling, transportation, distribution, and power generation, ACME group said in a press statement.

“The MoU allows IHI to participate as an investor or take offtake in one or more projects of ACME in Oman, India, USA or Egypt. Both companies will also explore opportunities to jointly offer a complete integrated solution to customers from green ammonia supply, bunkering and products or solutions for various applications,” the statement added.

ACME is developing a 1.1 million tonnes green ammonia facility in Oman and a 2.2 million tonnes green hydrogen facility in Egypt.

IHI Corporation is a comprehensive heavy-industry manufacture and is working to establish a global value chain for the production and utilisation of ammonia as a clean fuel.

(Writing by Sowmya Sundar; Editing by Anoop Menon)