ACME Group on Friday said that it has signed a memorandum of understanding (MoU) for cooperation and collaboration on developing the green hydrogen and ammonia market in India with Indian Gas Exchange (IGX).

The MoU was signed by ACME Chairman Manoj Kumar Upadhyay, and IGX CEO Rajesh Kumar Mediratta, at the India Energy Week (IEW) in Goa.

Acme Group is a pioneer in green hydrogen and ammonia space and combined with the deep experience of IGX in creating liquid tradeable market for natural gas, both companies aim to develop the physical traded market for green molecules across the country starting with regional hubs located near to hydrogen and ammonia projects and leading eventually into a nation-wide hub.

The MoU between IGX and ACME covers the partnership across the hydrogen and ammonia value chain, starting from production to logistics and supply to the industrial customers for use in a range of applications and reduce the overall emissions contributing to the national decarbonization targets.

Ashwani Kumar Dudeja, Group President and Director at Acme Group said, “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 liquid and transparent market for customers.”