Per the agreement, XOM and MSBHF are likely to explore opportunities for the latter's acquisition of low-carbon ammonia and potential investment in the project.

Mitsubishi Corp. is in talks to buy a stake in Exxon Mobil’s project in Baytown, Texas, which aims to be the world’s largest low-carbon ammonia facility.

Japanese trading house Mitsubishi said on Friday it has reached a preliminary agreement to buy a stake in and offtake low-carbon ammonia from ExxonMobil's hydrogen facility in Texas. Part of its decarbonisation drive,

ExxonMobil has signed a project framework agreement with Japan’s Mitsubishi for participation in its proposed hydrogen and ammonia facility in the US state of Texas. Under the agreement, the companies will continue discussions on Mitsubishi’s acquisition of low-carbon ammonia and its potential investment in the project.