MCE invests in ACE facility for clean fuel

MOL Clean Energy (MCE), an American subsidiary of Japan’s Mitsui OSK Lines (MOL), has invested in Ascension Clean Energy (ACE), a proposed clean hydrogen-ammonia production and export facility in Ascension Parish, Louisiana. Among other shareholders in the American firm is BW tanker subsidiary Hafnia.

Details of the specific size of the investment from MOL have not been revealed.

With a projected investment of $7.5bn, ACE is expected to produce 7.2m metric tons of clean hydrogen-ammonia annually.