![](images/Logos/Green%20Car%20Congress.jpg)
23 March
2023
Amogy Inc., a developer of emission-free,
energy-dense ammonia power solutions (earlier
post), announced a
$139-million Series B-1 fundraising. The round was led by SK
Innovation, joined by other global investors including Temasek, Korea
Zinc, Aramco Ventures, AP Ventures, MOL PLUS, Yanmar Ventures, Zeon
Ventures and DCVC.
SK Innovation had already invested $30 million in
Amogy in 2022.
This funding will enable Amogy to continue its
organizational development to support commercialization, begin
manufacturing of its innovative ammonia-to-power technology, and bring
its first product to market in 2024.
Amogy’s ammonia-to-power technology feeds liquid
ammonia through its cracking modules integrated into a hybrid fuel
cell system, which powers electric motors for zero-carbon
transportations including shipping. Amogy plans to present its
ammonia-powered, zero-emission tugboat in late 2023. The system is
three times larger than the system that was field-tested on Amogy’s
ammonia-fueled Freightliner Cascadia Class 8 truck earlier this year.
(Earlier
post.)
Upon the successful sail of the tugboat later in
2023 in upstate New York, Amogy intends to present its first
commercial offering in 2024 and more.
Amogy’s
technology represents a key breakthrough in the usage of ammonia as a
fuel, and we believe that it will revolutionize not only the maritime
industry, but the entire transportation industry. We want to make sure
Amogy has the resources it needs to make zero-emission shipping a
reality.
—Jun Kim, Vice
Chairman & CEO from SK Innovation
Green Play Ammonia™, Yielder® NFuel Energy.
Spokane, Washington. 99212
www.exactrix.com
509 995 1879 cell, Pacific.
exactrix@exactrix.com
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