Japan's MGC and India's ACME Sign 100,000 Tons/Year Green Methanol Offtake Agreement

en.Wedoany.com Reported - Mitsubishi Gas Chemical Company (MGC) has signed a green methanol purchase and sale agreement with the ACME Group, committing to offtake approximately 100,000 tons of green methanol annually from a project under construction in Odisha, India. The offtake is scheduled to commence upon the start of commercial operations in 2030. Officials from India's Ministry of New and Renewable Energy and Japan's Ministry of Economy, Trade and Industry attended the signing ceremony.

ACME is currently advancing the Odisha green methanol project as part of its green molecules business. Previously, ACME has built an integrated green hydrogen-ammonia pilot plant in Rajasthan and is developing other green ammonia projects in Duqm, Oman, and Odisha. The company is developing dedicated production infrastructure for the emerging green methanol market.

MGC plans to use the green methanol obtained from the contract for fuel and chemical applications in Japan and the Asian region, supporting methanol-based decarbonization efforts and ensuring a stable supply of low-carbon energy and materials. MGC's Carbopath™ platform produces methanol using raw materials such as emitted carbon dioxide, waste plastics, and biomass. The company stated that the contracted product will have ultra-low carbon intensity compliant with EU regulations and anticipated International Maritime Organization rules.