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ACME Group and Stavian Agree 10-Year Deal for 0.8 Mtpa Green HBI/DRI Supply

ACME Group and Stavian Industrial Metal have signed a binding term sheet for the long-term sale and purchase of 0.8 million tonnes per annum (Mtpa) of green Hot Briquetted Iron (HBI) and Direct Reduced Iron (DRI), under a take-or-pay / supply-or-pay structure. The agreement is slated for a 10-year duration.

Under the planned arrangement, ACME will supply the green HBI/DRI from its forthcoming Phase 1 facility, which is being developed with a capacity of 1.2 Mtpa. The materials will be produced using renewable energy and green hydrogen, with the hydrogen sourced from ACME’s own under-construction green hydrogen plant.

Earlier this year, in September 2025, ACME’s green energy division secured domestic funding from State Bank of India (SBI) — ?1,100 crore (approx.) — to refinance debt associated with its 300 MW renewable project in Rajasthan. In the same month, its subsidiary ACME Venus Urja Pvt Ltd also raised ?3,892 crore in project financing from SBI.

Key Highlights & Considerations:

• This term sheet is an interim binding document; it is expected to pave the way for a full offtake agreement in due course.
• The 0.8 Mtpa supply volume corresponds to roughly two-thirds of the capacity of ACME’s Phase 1 plant (1.2 Mtpa), leaving room for additional customers or future capacity.
• The integration of green hydrogen into steelmaking feedstock (HBI/DRI) marks a further push toward low-carbon steel production, aligning with global decarbonization trends.