India’s ACME Green Molecules Business and Japan’s Mitsubishi Gas Chemical Sign Long-term Green Methanol Supply Agreement
Deal marks India’s first global green marine fuel collaboration
Gurugram, India | July 3, 2026: ACME Green Molecules Business, India’s leading clean energy business and part of the sustainable qsolutions pioneer ACME Group, has signed a binding long-term Purchase and Sale Agreement for 100,000 Tonnes per annum with Mitsubishi Gas Chemical Company, Inc. (MGC) for the supply of Green Methanol. The estimated investment in this long-term agreement is approximately US$ 1 billion.
A Historic First for India and the Global Marine Fuel Transition
This Agreement, between ACME Green Molecules and Mitsubishi Gas Chemical, is the first ever RFNBO-compliant green marine fuel collaboration by an Indian company. It positions India as a trailblazer in low-carbon alternatives to conventional marine fuels. Green methanol is gaining traction as a commercially viable substitute for Heavy Fuel Oil (HFO), Very Low Sulphur Fuel Oil (VLSFO), and Marine Gas Oil (MGO), owing to its ability to significantly reduce lifecycle CO₂ emissions while functioning as a liquid fuel compatible with existing ship and port infrastructure — requiring only modest modifications to current systems.
According to Mr Anil Taparia, Chief Executive Officer of ACME Green Molecules Business, “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 commercialization of green methanol at scale.”
Mr. Hideaki Akase, Managing Executive Officer, Green Energy & Chemicals Business Sector, Mitsubishi Gas Chemical said, “ACME Group has continuously created new frameworks in new business fields, is now trying to navigate through the challenge in green methanol field. We are honored to have concluded a long-term contract to purchase this green methanol and contribute to overcome those challenges. The green methanol that MGC will offtake under this contract will have the ultra-low carbon intensity compliant with EU regulations and future IMO regulations, alongside an attractive price to the green market. We are confident that this green methanol has the power to significantly transform not only in Japan or Asia but also the global green chemical and green energy markets. We will continue to collaborate with ACME Group to contribute to the global transition to a sustainable society by the potential of methanol.”
Odisha: A Strategic Investment Hub for ACME Group
The Green Methanol facility in Paradip marks ACME Group’s third major strategic investment in Odisha, reinforcing the State’s position as a key hub for the Group’s Green Molecules Business. ACME’s prior commitments in Odisha includes 405,000 TPA Green Ammonia facility in Gopalpur — developed through a joint venture with Japan-based IHI Corporation and another 800,000 TPA Green Ammonia facility in Paradip — anchored by a Green Ammonia Purchase Agreement with Solar Energy Corporation of India Ltd. (SECI) under the SIGHT (Strategic Interventions for Green Hydrogen Transition) Scheme, Mode-2A, Tranche-I, for supply to India’s fertilizer sector. ACME Group’s green energy projects in Odisha are designed as long-term, bankable, large-scale initiatives designed for the global supply of clean energy solutions. ACME’s project are expected to have a catalytic impact on the regional economic development, generating significant employment opportunities as well as providing a boost to ancillary industries in the region.
About ACME Group’s Green Molecules Business: ACME Group’s Green Molecules Business is at the forefront of India’s clean energy transition with a rapidly expanding global footprint. It has established a strong foundation with its operational green ammonia facility in Bikaner, India and is advancing its international ambitions through a world-class green ammonia project in Duqm, Oman. Building on its strong market leadership, ACME is also establishing new facilities in Odisha, India following its Green Ammonia Purchase Agreement (GAPA) with SECI, alongside a strategic joint venture with IHI Corporation, Japan. These projects ascertain ACME Group as a key player in enabling scalable, cost-competitive green hydrogen and ammonia production for global markets. It has secured strategic offtake partnerships with leading global and domestic players, including Yara International (Norway), IHI Corporation (Japan), and leading Indian fertilizer companies such as IFFCO, Paradeep Phosphates Limited, Coromandel International Limited and Indorama India Private Limited, reinforcing its credibility as a reliable supplier of green molecules. Guided by a clear vision to partner with industries in achieving their net zero goals, ACME's Green Molecules Business is focused on decarbonizing hard-to-abate sectors such as fertilizers, shipping, refineries, chemicals and heavy industries. Through integrated project development, strategic collaborations, and a commitment to innovation, the company aims to accelerate the global transition towards sustainable energy systems.
About Mitsubishi Gas Chemical Company, Inc. (Headquarters: Chiyoda-ku, Tokyo, Japan): Based on its Group mission, "Creating value to share with society", Mitsubishi Gas Chemical (MGC) is promoting the environmentally circular methanol platform, “CarbopathTM”, in which methanol is produced from CO2, waste plastics, and biomass with proprietary methanol production technology developed over many years using in-house catalysts. The recycled methanol is then utilized as chemical feedstock, fuel, and for power generation. Through the social implementation of this platform, MGC will contribute to reducing greenhouse gas emissions and advancing the transition to a circular economy.
