Brookfield to invest up to $600 mn in ACME's green molecule business

Brookfield will invest up to $600 million in ACME Cleantech Ventures to fund green molecule projects in India and the Middle East, marking its regional entry into the sector

Brookfield will invest up to $600 million in ACME Cleantech Ventures, a UK-based privately held entity within the ACME Group, to support the construction of ACME’s pipeline of green molecule projects in India and West Asia, the global investment firm said on Thursday.

“This investment marks Brookfield’s entry into the green molecules sector in the region and combines our global scale and institutional capital with ACME’s operating capabilities,” said Nawal Saini, managing partner and head of energy, South Asia and the Middle East, Brookfield.

Brookfield is investing in ACME through its Brookfield Global Transition Fund strategy, which is focused on investing in net-zero carbon opportunities. The investment will enable the development of green molecule projects as a solution to help industries decarbonise their operations across Asia and Europe, it said in a statement.

Green molecules — such as green hydrogen, ammonia, and methanol — are clean fuels produced using zero-carbon energy to slash industrial emissions.

Brookfield has more than $1 trillion in assets under management and an energy portfolio comprising approximately 50 gigawatt of wind and solar assets in operation and in the pipeline in India.