IGX and ACME Ink MoU to Foster Green Hydrogen & Ammonia Market

ACME Group announced on Friday the signing of a memorandum of understanding (MoU) with Indian Gas Exchange (IGX), marking a significant step towards cooperation and collaboration in advancing the green hydrogen and ammonia market in India. The MoU, signed by ACME Chairman Manoj Kumar Upadhyay and IGX CEO Rajesh Kumar Mediratta, took place during the India Energy Week (IEW) held in Goa.

As a trailblazer in the green hydrogen and ammonia sector, ACME Group, in conjunction with IGX's extensive experience in establishing a liquid tradeable market for natural gas, aims to cultivate a physically traded market for green molecules nationwide. This initiative will commence with the establishment of regional hubs near hydrogen and ammonia projects, eventually expanding into a comprehensive, nationwide hub network.

The partnership between IGX and ACME encompasses collaboration across the entire hydrogen and ammonia value chain, spanning production, logistics, and supply to industrial customers for various applications, all geared towards reducing overall emissions and contributing to national decarbonization targets.

Ashwani Kumar Dudeja, Group President and Director at ACME Group, expressed enthusiasm about the collaboration, stating, "We're excited to collaborate with IGX on developing the market for green hydrogen and its derivatives in India, aiming to pioneer sustainable energy solutions and create a liquid and transparent market for customers."

HBL