Brookfield plans up to $600 million investment in ACME green fuels

Brookfield ($BAM) plans to invest up to $600 million in ACME Cleantech Ventures to support green-ammonia and green-methanol projects. The investment will be made through its Global Transition Fund strategy and will back development and construction in India and Oman. It extends Brookfield’s regional energy activities into low-carbon fuel production.

ACME said its project pipeline is supported by existing supply agreements with customers including Yara International, IHI and Mitsubishi Gas Chemical, alongside Indian buyers. Those customer arrangements are background to the new investment rather than newly signed contracts announced by Brookfield. The funding ceiling is not equivalent to immediate cash deployment or asset-management revenue. The partnership is intended to expand a project-development platform, with construction and commercial execution still determining the eventual operating contribution.

Sources:

• Reuters — Brookfield and ACME investment, reprint