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ACME Group, India’s leading business house pioneering sustainable innovations and Stavian Industrial Metal, have executed a binding term sheet for a long-term sale and purchase of 0.8 MTPA of green HBI and DRI on a take or pay/supply or pay basis for a tenure of 10 years. The term-sheet will be followed by an offtake agreement wherein ACME Group will make the supply from its planned 1.2 MTPA green HBI & DRI plant (Phase 1) (Green Hot Briquetted Iron and Direct Reduced Iron for use in making steel). ACME’s project will produce one of the lowest carbon emissions-based Green HBI/DRI supported by Renewable Energy and Green Hydrogen sources. This is one of the landmark & pioneering Green HBI/DRI contracts globally.

The green hydrogen for this project will be supplied from ACME Group's under construction green hydrogen facility. ACME Group’s agreement with Stavian Industrial Metal aims to leverage its capabilities in green hydrogen to process HBI and DRI used in the manufacturing of green steel. ACME sees this as a natural progression of its clean technology solutions business to extend these clean energy solutions in helping the transition of grey steel into green steel.

According to Mr. Manoj Kumar Upadhyay, Chairman of ACME Group, “Our green HBI and DRI project underscores ACME’s unwavering commitment as a leader of clean technology solutions in India. We take pride in spearheading innovation within the clean energy sector including green hydrogen and derivatives. We are delighted to establish a long-term partnership with Stavian Industrial Metal to deliver sustainable solutions to hard-to-abate sectors such as steel manufacturing. Our greenfield facility will produce some of the lowest carbon emission green HBI and DRI products. This collaboration marks a significant milestone in ACME’s integration of green steel into our portfolio as part of our strategic business expansion.”

Mr. David Nguyen Minh Tu, Chairman of Stavian Industrial Metal stated, “The partnership between Stavian Industrial Metal and ACME is not merely a commercial agreement, but a testament to our shared responsibility in realizing the Net Zero goals - by 2050 for Vietnam and 2070 for India. With a solid foundation, strong financial capacity, and an ecosystem of over 20,000 customers across more than 100 countries, Stavian Industrial Metal is committed to working alongside global partners to build a more sustainable and greener steel industry — for the shared future of Vietnam, India, and the world.”

The global green steel market is experiencing rapid transition, fueled by heightened climate commitments, regulatory requirements, and increasing demand from industries focused on decarbonizing their manufacturing processes and supply chain mechanism creating significant business opportunities for producers and clean technology providers worldwide. As governments and large corporations mandate decarbonization, demand for low-carbon steel is surging in sectors like automotive, construction, and consumer goods. Major economies such as Europe, the United States, and China are making substantial investments in advanced green steel technologies, including hydrogen-based interventions to modernize steelmaking processes and significantly cut emissions.

Stavian Industrial Metal is a leading Vietnamese corporation specializing in the processing, investment and trading of industrial metal materials, with a vision for sustainable development and innovation in the global metals market. As part of the Stavian Group, this company leverages a strong international distribution network of over 20,000 partners and customers across over 100 countries and territories, and modern offices and warehouses across major cities in Vietnam to serve both domestic and international clients.

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