MOL Clean Energy, US, LLC (MCE), a 100% subsidiary of Mitsui O.S.K. Lines, Ltd. (MOL), and Clean Hydrogen Works, LLC (CHW) announced MCE as a Joint Venture shareholder in Ascension Clean Energy (ACE), a proposed $7.5-billion, clean hydrogen-ammonia production and export facility in Ascension Parish, Louisiana. (Earlier post.)

Other shareholders are CHW, Denbury Carbon Solutions., a carbon solutions provider with more than two decades of successfully managing carbon dioxide (CO₂), and Hafnia, one of the world’s leading oil product tanker owners and operators.

Expected to produce 7.2 million metric tons of clean hydrogen-ammonia annually, ACE will help meet the rapidly emerging demand for affordable, secure, and low-carbon fuels and feedstock around the world. This clean energy will help decarbonize hard-to-abate sectors including power generation, bunker fuel, heavy transportation, steel processing and industrial applications.

As one of the world's largest shipping companies, MOL is well-positioned to help develop safe, sustainable, and efficient solutions to ship ACE’s clean hydrogen-ammonia to emerging clean energy markets across the globe.

ACE is committed to achieving among the world’s lowest lifecycle carbon intensity by capturing up to 98 percent of CO₂ emissions from its processes, as well as actively managing upstream CO₂ and methane emissions.

Project majority shareholder, Clean Hydrogen Works (CHW), is a sustainability-focused, commercially oriented project developer with experience in developing integrated energy value chains.