Acme Group's Acme Green Molecules Business has entered into a long-term contract with Japan's Mitsubishi Gas Chemical Company (MGC) to provide 100,000 tonnes of green methanol each year, marking what the companies refer to as India's initial global green marine fuel partnership. The agreement is valued at around $1 billion.

Under the binding purchase and sale contract, ACME Green Molecules will provide renewable green methanol to MGC for utilization in the worldwide marine fuel market. The firms stated the collaboration is intended to assist the shipping sector's shift to low-carbon fuels that adhere to changing global environmental standards.

Green methanol is gaining attention as a substitute for traditional marine fuels like Heavy Fuel Oil (HFO), Very Low Sulphur Fuel Oil (VLSFO), and Marine Gas Oil (MGO). As per the companies, the fuel can greatly decrease lifecycle carbon dioxide emissions and is compatible with current shipping and port facilities with minimal alterations.

Anil Taparia, Chief Executive Officer of ACME Green Molecules Business, states, "This partnership marks a crucial advancement in the company's goals to grow its worldwide green methanol operations and hasten the use of sustainable fuels in the aviation and marine industries."

Also Read: Gemini Ultra, Veo 3, Stitch and More Highlights from Google I/O 2025

MGC Managing Executive Officer Hideaki Akase stated that the partnership would facilitate the provision of green methanol with extremely low carbon intensity, anticipated to meet European Union and forthcoming International Maritime Organization standards, while aiding the shift towards sustainable energy markets.

Also Read: Karnataka to Become Quantum Capital of Asia Soon

Green methanol will be manufactured at ACME Group's plant in Paradip, Odisha, as part of the company's extensive investments in the region. ACME announced that the Paradip initiative marks its third significant green energy investment in Odisha, succeeding green ammonia projects in Gopalpur and Paradip.

ACME Group's Green Molecules division is broadening its range of green hydrogen, ammonia, and methanol initiatives in India and abroad, featuring sites in Bikaner and Duqm, Oman.

Also Read: Moments of Transformation from India's Post-Independence Tech Progress

The firm has also obtained supply contracts with various local and international collaborators as it aims to enhance its position in the worldwide clean energy sector.