ACME Group in Oman has received the first tranche of funding amounting to over $500mn for its green hydrogen and ammonia project in the Special Economic Zone at Duqm. This financing showcases international confidence in the project's viability and SEZAD's role in attracting high-quality investments in green hydrogen and clean energy sectors. Dr Saeed bin Khalifa al Quraini highlighted the significance of securing funding for ACME's Duqm project, emphasizing its role in supporting Oman's national strategy for carbon neutrality. The project, aligned with Oman's vision for sustainable energy, has entered the implementation phase with contracts signed for equipment and technology. Gursharan Jassal, the Country Manager for ACME in Oman, expressed gratitude for the milestone, noting the importance of the funding and off-take agreement in realizing the global green hydrogen vision. ACME's project aims to produce 100,000 tonnes of green ammonia annually in its first phase, with plans for future expansion to 1.1mn tonnes per year. The project is set to commence operations in the first quarter of 2027, with a long-term off-take agreement already in place with Norwegian company Yara.