Brookfield to invest up to $600 million in ACME Cleantech Ventures

Brookfield is planning to invest up to $600 million in ACME Cleantech Ventures to support the construction of advanced green molecule projects in India and West Asia. ACME Cleantech Ventures, a UK-based subsidiary of the ACME Group, will focus on ACME's green molecules initiatives. The green molecules business of ACME is developing new green ammonia and green methanol facilities in India and Oman, positioning the company as a leading provider of scalable, cost-competitive green molecules solutions.

ACME has secured strategic offtake partnerships with major international and domestic companies, including Yara International, IHI Corporation, Mitsubishi Gas Chemicals, Solar Energy Corporation of India, and various Indian fertilizer companies. The investment by Brookfield, through its Brookfield Global Transition Fund, will help develop green molecule projects as a scalable solution to assist industries in decarbonizing operations across Asia and Europe.

Brookfield's Managing Partner and Head of Energy for South Asia and the Middle East, Nawal Saini, stated that the demand for green molecules is increasing as companies and governments seek scalable solutions to decarbonize and enhance energy security. This investment marks Brookfield's entry into the green molecules sector in the region, combining its global scale and capital with ACME's operational expertise.

ACME's project pipeline presents an opportunity to capitalize on the growing energy transition in India and the Middle East, according to Manoj Upadhyay, Chairman of the ACME Group. Upadhyay emphasized that green molecules are establishing a new global supply chain for fuel and feedstock while enhancing long-term energy security.