Yara and ACME Cleantech Finalize Groundbreaking Agreement for Renewable Ammonia Supply
A definite deal has been reached between Yara, a leading crop nutrition company in Norway and a significant participant in the worldwide ammonia trading market, and GHC SAOC, a division of Acme Cleantech Solutions in India, for the long-term supply of low-carbon ammonia.
18 months of intense negotiations came to an end with this agreement, which was made possible by the way regulatory and certification environments have changed over time.
As per the historic deal, Acme will provide Yara with a yearly supply of 100,000 tons of renewable ammonia, derived from the first phase of its project in Oman, which is scheduled to start in 2027.
This project, which focuses on renewable ammonia, is noteworthy for possibly being the first of its sort at this magnitude and duration.
With a projected lifetime reduction of up to 5 million tons of CO2 equivalents, the project is anticipated to have a major impact on global greenhouse gas reductions.
This project demonstrates the EU’s commitment to sustainable practices by complying with strict requirements, such as the Renewable Energy Directive.
The deal’s strategic significance in promoting the hydrogen economy was emphasized by Magnus Ankarstrand, President of Yara Clean Ammonia.
He emphasized the relevance of renewable ammonia in building a sustainable supply chain that spans the shipping, food production, power generation, and industrial sectors.
This agreement emphasizes how important it is to work together to create eco-friendly value chains.
A director at ACME Group named Ashwani Dudeja expressed excitement about the company’s collaboration with Yara, which establishes ACME as a leader in the manufacturing of green ammonia.
In addition to creating a precedent, this partnership seeks to encourage additional cooperation in the advancement of green hydrogen and its byproducts.
Oman has become a leading destination for the production of green ammonia due to its favorable renewable energy conditions, strategic location, and backing from the government.
Leading this initiative is ACME, which plans to build a factory that can produce 900,000 tons of green ammonia annually in phases.
In the meantime, Yara is growing the market for renewable ammonia, a critical step toward the decarbonization of the entire industry, by utilizing its global reach and experience in ammonia trade and logistics.
Source Yara and ACME Cleantech Finalize
