Six major Japanese companies, IHI Corporation, Hokkaido Electric Power, Mitsubishi Gas Chemical, Mitsui O.S.K. Lines, Mizuho Bank, and Tokyo Century Corporation, are evaluating investment opportunities in a 400,000-tonne-per-year green ammonia production facility being developed by ACME Group in Odisha.
These companies have signed a Memorandum of Understanding (MoU) to explore potential investments in the project, which aims to produce and transport green ammonia to Japan for various industries, including power generation and chemical manufacturing.
A Step Toward Carbon Neutrality
Green ammonia is a next-generation clean energy source that does not emit CO₂ when burned, making it a crucial solution for decarbonization in power plants and shipping. The demand for green ammonia is expected to rise significantly in the future.
With production set to begin by 2030, the six Japanese firms will work together to establish a strong value chain for ammonia production, transportation, and utilization. Their expertise in these areas, along with international economic cooperation, will play a key role in ensuring the project’s success.
Companies’ Roles in the Initiative
- IHI Corporation aims to pioneer Japan’s first green ammonia value chain, expanding both domestic and international supply.
- Hokkaido Electric Power is studying the use of ammonia at its coal-fired Tomatoh-Atsuma Thermal Power Station and exploring storage and supply facilities.
- Mitsubishi Gas Chemical, with a long history in ammonia production, is working to decarbonize ammonia production and expand green ammonia usage.
- Mitsui O.S.K. Lines (MOL) has partnered with IHI Corporation to develop a green ammonia supply chain, facilitating Japan’s first green ammonia imports from India.
- Mizuho Bank aims to provide financing, with a target of 2 trillion yen in investments by 2030 to accelerate hydrogen and ammonia supply chain development.
- Tokyo Century, traditionally focused on solar energy, is now considering investments in green ammonia to promote sustainability and support carbon neutrality.
Global Impact of the Project
By collaborating on this green ammonia initiative, these companies aim to support Japan’s carbon neutrality goals and contribute to a cleaner energy future. The project is expected to strengthen economic ties between India and Japan while playing a crucial role in the global shift towards renewable energy sources.
