Amogy pioneer of emission-free, energy-dense ammonia power solutions, revealed that it has raised $46 million in additional funding to scale up its extremely efficient ammonia-to-power technology. It intends to use these funds to install its systems on both an ocean cargo ship and an 18-wheel tractor trailer, says an article published in yahoo.
Zero-emission farming tractor
Amogy will use the money from the bridge round to speed up the commercialization of its energy-dense power solution that will decarbonize heavy-duty transportation and allow top cargo and fleet owners to stop using fossil fuels and cut emissions from their supply chain.
This is building on momentum from recent successful demonstrations of the first-ever, ammonia-powered, zero-emission farming tractor and aerial drone.
Heavy-duty ground
Founded in 2020, Amogy’s emission-free power technology offers a truly unique decarbonization system for global transportation, a sector which currently accounts for an estimated 17% of greenhouse gas emissions – a share that experts expect to increase.
As global businesses search for low carbon transportation options, batteries and hydrogen fuel cells offer part of the solution; however, due to the weight and volume constraints required in applications such as heavy-duty ground, sea and air transportations, these technologies are limited.
Ammonia power technology
Ammonia, an energy-dense, carbon-free chemical that is essential for zero-emission heavy duty transportation, is used in Amogy’s solution.
Ammonia is an ideal fuel for long-haul trucking, locomotives, aviation, and shipping because it has been used industrially for more than a century and because there is already established infrastructure for global storage, handling, and delivery.
These sectors are known as “hard-to-abate” areas because they have all been challenging to decarbonize.
Amogy wants to accelerate the worldwide transition to net zero emissions by 2050 and reduce about five billion metric tonnes of CO2-equivalent emissions by 2040 with its highly effective, lightweight, and small ammonia power technology.
Fundamental bottlenecks
“To reach net zero emissions by mid-century, we must decarbonize the heavy-duty transportation sector. While existing fuel sources and technology have fundamental bottlenecks, ammonia represents an accessible, abundant and sustainable option for decarbonizing long-haul transportation that is critical to our world economy,” said Seonghoon Woo, CEO at Amogy.
“Thanks to our investors sharing our mission, we’ve already been able to demonstrate several impactful, practical applications of our solution and, with this next round of funding, we’re well on our way to further scaling our technology to decarbonize industries that are those of the highest emitters of greenhouse gasses.”
Heavy-duty mobility
Due to a lack of technology that can effectively and safely extract energy from ammonia in a confined environment, the use of ammonia as an energy carrier has received little attention.
However, through previous demonstration, Amogy’s technology has shown that ammonia has the potential to open up zero carbon, heavy-duty mobility applications.
Amogy plans to scale up its highly effective, lightweight, compact ammonia processor, which can reduce pollutants across more sectors within heavy-duty industries, with the money raised during this bridging round.
Green portfolio development
“SK Innovation has decided to invest in Amogy, a leading ammonia-cracking based power solution provider, to become a holding company specialized in green portfolio development in order to achieve net-zero emission by 2050. Based on the investment and the cooperation with Amogy, SK Innovation will do its utmost to develop ammonia-cracking based power technology and expand the market,” said a spokesperson for SK Innovation.
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Source: yahoo
