MOL Clean Energy, subsidiary of Mitsui O.S.K. Lines (MOL), today announced they are a Joint Venture shareholder in the new clean hydrogen-ammonia production and export facility Ascension Clean Energy (ACE) in Ascension Parish, Louisiana.
Other shareholders in the project include CHW, Denbury Carbon Solutions, and Hafnia. Expected to produce 7.2 million metric tons of clean hydrogen-ammonia annually, ACE aims to help meet the rapidly emerging demand for affordable, secure, and low-carbon fuels and feedstock around the world.
With a projected investment of $7.5 billion, ACE is expected to generate approximately 1,500 construction jobs over five years and 350 permanent, full-time jobs with an annual average wage of more than $116,000, once fully operational.
With this innovative project, MOL is investing not only for our future growth, but also helping promote the development and adoption of clean hydrogen-ammonia within our fleet and customer base
… said said Tomoaki Ichida, CEO, MOL Clean Energy
ACE is also expected to create an additional 626 jobs in Ascension Parish, along with nearly $2.2 billion in new sales in firms across Louisiana.
With the rapidly evolving macro-environment, the world’s net zero goals must be increasingly coupled with affordability and security of energy supply
… said Mitch Silver, CHW Senior Vice President and Chief Operating Officer
According to MOL, project shareholders are committed to transparency and open, two-way communication with ACE stakeholders throughout this process and will work collaboratively to develop a project of which both the company and community can be proud.
