Mitsubishi Gas Chemical inks 100,000 t/y green methanol offtake with ACME Group
- MGC will offtake about 100,000 tonnes per year of green methanol from ACME's Odisha project.
- Commercial operation of the project is scheduled to begin in 2030.
- Contracted methanol is described as having ultra-low carbon intensity compliant with EU regulations and future IMO rules.
- The signing ceremony was attended by officials from India’s MNRE and Japan’s METI.
Deal
Mitsubishi Gas Chemical Company (MGC) signed a purchase and sale agreement with ACME Group to offtake approximately 100,000 tonnes per year of green methanol from a project currently under advancement in Odisha, India. The offtake will begin at the commencement of commercial operation, scheduled for 2030. A signing ceremony was held with officials from India’s Ministry of New and Renewable Energy (MNRE) and Japan’s Ministry of Economy, Trade and Industry (METI) in attendance.
Project background
ACME is progressing an Odisha green methanol project as part of its broader Green Molecules Business, following its integrated green hydrogen and ammonia pilot plant in Rajasthan and additional green ammonia projects in Duqm, Oman and Odisha. ACME is developing dedicated production infrastructure to serve the emerging green methanol market.
Strategic rationale
MGC plans to supply the contracted green methanol for fuel and chemical applications in Japan and across Asia to support methanol-based decarbonization and the stable supply of low-carbon energy and materials. MGC’s Carbopath™ platform aims to produce methanol from emitted CO2, waste plastics, biomass and other sources. The company states the contracted product will have ultra-low carbon intensity compliant with EU regulations and anticipated IMO rules.
Source: MGC