Acme Group & IGX Partner for India's Green Hydrogen Market
In a significant move towards advancing sustainable energy solutions, Acme Group, a prominent renewable energy company, and Indian Gas Exchange (IGX) have inked a memorandum of understanding (MoU) to collaborate on the development of the green hydrogen and ammonia market in India. The agreement was formalized during the India Energy Week held in Goa, where Manoj Kumar Upadhyay, founder and chairman of Acme Group, and Rajesh Kumar Mediratta, managing director and CEO of IGX, sealed the deal.
The partnership aims to leverage Acme Group's pioneering expertise in the green hydrogen and ammonia sector alongside IGX's profound experience in establishing a liquid and tradable market for natural gas. Their collective vision involves establishing a physical trading market for green molecules across India, initially focusing on regional hubs situated near hydrogen and ammonia projects, with the ultimate goal of establishing a nationwide hub.
The memorandum encompasses the entire value chain of green hydrogen and ammonia, spanning from production, logistics, and supply to their utilization across various applications. This strategic collaboration seeks to lay the groundwork for a sustainable energy ecosystem, facilitating the seamless adoption of green hydrogen and its derivatives.
Ashwani Kumar Dudeja, group president and director of Acme Group, expressed enthusiasm about the partnership, emphasizing their commitment to pioneering sustainable energy solutions and fostering a liquid and transparent market for customers. This collaboration signifies a concerted effort towards promoting environmentally friendly alternatives and driving the transition towards a greener future in India's energy landscape.