ACME Group has signed a binding agreement to export green methanol to Mitsubishi Gas Chemical in a deal valued at $1 billion.
The contract was announced on Friday, coinciding with the conclusion of Japanese Prime Minister Sanae Takaichi’s three-day visit to India and the 16th India-Japan Annual Summit.
The transaction underscores the growing demand for alternative marine fuels as global shipping companies seek to decarbonize their fleets.
Green methanol is increasingly viewed as a viable drop-in fuel for container ships and other vessels, offering a lower-carbon alternative to traditional heavy fuel oil.
The deal with Mitsubishi, a major player in the Japanese chemical and energy sector, signals strong corporate appetite for secured supplies of sustainable fuel.
For India, the agreement reinforces its strategic positioning in the global clean energy supply chain.