McDermott has been awarded the front-end engineering and design (FEED) contract for the Ascension Clean Energy (ACE) project, a large-scale clean ammonia production and export initiative located in Ascension Parish, Louisiana. The $7.5 billion project is a joint effort between Clean Hydrogen Works (CHW), ExxonMobil, Mitsui O.S.K. Lines, and Hafnia. The initial phase aims to deliver 2.4 million metric tons per annum (mtpa) of clean ammonia by 2028-2029, with plans for future expansion to reach 7.2 mtpa. With the support of carbon capture and sequestration (CCS) contracts with ExxonMobil, regulatory approvals expected in early 2025, ongoing off-take discussions, and Goldman Sachs as a financial advisor, the project targets a final investment decision (FID) by late 2025 and production commencement in 2029. McDermott will provide FEED, engineering, procurement, and construction (EPC) services for the project under an engineering services agreement. The collaboration is expected to bring significant employment opportunities, including 350 new jobs, 1,500 peak construction jobs, and 1,200 indirect jobs to the region. The project emphasizes a commitment to safety, environmental responsibility, and community engagement, aiming to develop a valuable and sustainable initiative for all stakeholders involved.