India Enters Global Green Marine Fuel Market as ACME Signs US$1 Billion Methanol Supply Agreement

Anil Taparia, Chief Executive Officer, ACME Green Molecules Business, and Hideaki Akase, Managing Executive Officer, Green Energy and Chemicals Business Sector, Mitsubishi Gas Chemical Company, said the 100,000 tonne annual supply agreement will support the use of green methanol across marine and chemical markets.

ACME Green Molecules Business has signed a binding long term Purchase and Sale Agreement with Mitsubishi Gas Chemical Company, Inc. for the annual supply of 100,000 tonnes of green methanol.
The agreement is estimated to involve an investment of approximately US$1 billion and marks the first RFNBO compliant global green marine fuel collaboration involving an Indian company.
The supply agreement is expected to support the use of green methanol as a lower carbon alternative to conventional marine fuels, including Heavy Fuel Oil, Very Low Sulphur Fuel Oil and Marine Gas Oil.

Green methanol can reduce lifecycle carbon dioxide emissions and can be used within existing ship and port infrastructure with limited modifications, making it a practical option for maritime operators seeking cleaner fuel alternatives.
ACME Green Molecules Business is part of ACME Group and is focused on developing clean energy products for marine, aviation and industrial applications.
Anil Taparia, Chief Executive Officer, ACME Green Molecules Business, said, “This agreement marks an important milestone in ACME Group’s journey to build a globally competitive green methanol business and accelerate the transition to sustainable fuels and chemicals in marine and aviation sectors. We are proud to partner with MGC, a globally respected leader in the methanol industry, to advance the commercialisation of green methanol at scale.”

Hideaki Akase, Managing Executive Officer, Green Energy and Chemicals Business Sector, Mitsubishi Gas Chemical Company, said the agreement would help expand access to green methanol with low carbon intensity.
He said, “The green methanol that MGC will offtake under this contract will have ultra low carbon intensity compliant with European Union regulations and future International Maritime Organization regulations, alongside an attractive price for the green market.”
Akase added that the product could contribute to the development of green chemical and energy markets across Japan, Asia and other international regions.

The green methanol will be supplied from ACME Group’s proposed facility in Paradip, Odisha. The project represents the company’s third major investment in the state and adds to its existing clean energy portfolio.
ACME Group has previously committed to developing a 405,000 tonne annual green ammonia facility in Gopalpur through a joint venture with Japan based IHI Corporation.
The company is also developing an 800,000 tonne annual green ammonia facility in Paradip. The project is supported by a Green Ammonia Purchase Agreement with Solar Energy Corporation of India under the Strategic Interventions for Green Hydrogen Transition Scheme for supply to India’s fertiliser sector.

The company said its projects in Odisha are designed as large scale, long term clean energy developments serving domestic and international markets.
The investments are expected to support employment, local industries and the development of Odisha as a centre for green molecules and clean energy production.

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