Cleantech business group, ACME, on Thursday announced a joint venture with Japan's heavy industry group, IHI Corporation to develop India's largest green ammonia project in Gopalpur, Odisha.
The two companies had singed an initial Memorandum of Understanding (MoU) in 2023. The project has achieved significant milestones, including the establishment of a joint venture partnership and IHI Corporation’s acquisition of a 30% stake in ACME Clean Energy Private Limited, the company said in a release.
Additionally, the necessary land for the project has been secured, and the Front-End Engineering Design (FEED) has been successfully completed, the statement added.
The facility is planned to produce approximately 0.4 million tonnes of green ammonia annually upon completion. The production of Green Ammonia will be delivered mainly to Japanese end users in the power and chemical sectors enabling the long term decarbonization goals of Japan.
The project will help mitigate over 0.8 million tonnes of carbon dioxide emissions per year, while advancing India’s ambition to become a global hub for green hydrogen and its derivatives, according to the release.
ACME Group and IHI Corporation are now advancing detailed project development activities, including EPC contracting, renewable energy integration, and ammonia evacuation infrastructure arrangements. The plant is targeted for commissioning by 2029-30, with production earmarked for exports mainly to Japan.
Manoj Kumar Upadhyay, Chairman of ACME Group, said, “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. Odisha offers strategic advantages for energy and export opportunities. 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.”
At the 15th Japan–India Annual Summit held in Tokyo on 29–30 August 2025, Prime Minister Narendra Modi and 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 the shared vision by creating a large-scale supply chain for Green Ammonia between India and Japan. (Please refer the photograph enclosed with this Press Release).
Hiroshi Ide, President and CEO of IHI Corporation, said, “We are proud to partner with ACME Group in this transformative project. For IHI Corporation, green ammonia is key to achieving a net-zero world and ensuring a reliable, sustainable energy transition. Through this collaboration, we aim to secure green ammonia fuel value chains that will benefit both India and Japan, while supporting global decarbonization goals.”
The ACME Group and IHI Corporation joint venture has strategic significance for India & Japan as well as to the State of Odisha. It 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. The project brings large-scale industrial investment in Odisha, boosts local employment, skill development, and positions the State as a leading green energy hub.
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.
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The two companies had singed an initial Memorandum of Understanding (MoU) in 2023. The project has achieved significant milestones, including the establishment of a joint venture partnership and IHI Corporation’s acquisition of a 30% stake in ACME Clean Energy Private Limited, the company said in a release.
Additionally, the necessary land for the project has been secured, and the Front-End Engineering Design (FEED) has been successfully completed, the statement added.
The facility is planned to produce approximately 0.4 million tonnes of green ammonia annually upon completion. The production of Green Ammonia will be delivered mainly to Japanese end users in the power and chemical sectors enabling the long term decarbonization goals of Japan.
The project will help mitigate over 0.8 million tonnes of carbon dioxide emissions per year, while advancing India’s ambition to become a global hub for green hydrogen and its derivatives, according to the release.
ACME Group and IHI Corporation are now advancing detailed project development activities, including EPC contracting, renewable energy integration, and ammonia evacuation infrastructure arrangements. The plant is targeted for commissioning by 2029-30, with production earmarked for exports mainly to Japan.
Manoj Kumar Upadhyay, Chairman of ACME Group, said, “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. Odisha offers strategic advantages for energy and export opportunities. 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.”
At the 15th Japan–India Annual Summit held in Tokyo on 29–30 August 2025, Prime Minister Narendra Modi and 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 the shared vision by creating a large-scale supply chain for Green Ammonia between India and Japan. (Please refer the photograph enclosed with this Press Release).
Hiroshi Ide, President and CEO of IHI Corporation, said, “We are proud to partner with ACME Group in this transformative project. For IHI Corporation, green ammonia is key to achieving a net-zero world and ensuring a reliable, sustainable energy transition. Through this collaboration, we aim to secure green ammonia fuel value chains that will benefit both India and Japan, while supporting global decarbonization goals.”
The ACME Group and IHI Corporation joint venture has strategic significance for India & Japan as well as to the State of Odisha. It 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. The project brings large-scale industrial investment in Odisha, boosts local employment, skill development, and positions the State as a leading green energy hub.
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.
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