Amogy Secures $11.2 Million in Funding for Green Ammonia Technology
Green ammonia startup Amogy has secured $11.2 million in funding as part of a larger $90 million round, according to an SEC filing. This funding round is notably smaller than their previous $139 million Series B-1 round in March 2023, reflecting the current challenges faced by climate-focused startups in attracting investment.
Amogy is developing ammonia-to-power technology for various transportation sectors, including maritime shipping, trucking, and agriculture. Unlike many green ammonia startups that burn ammonia in modified internal combustion engines, Amogy cracks ammonia into nitrogen and hydrogen. The hydrogen powers a fuel cell, producing electricity and water, while the nitrogen is released as harmless gas. This method eliminates the need for pilot fuels like diesel and achieves zero-carbon emissions from the outset.
This approach positions Amogy well within the maritime shipping industry, which aims to reach net-zero emissions by 2050. The company has already demonstrated its technology in a retrofitted tugboat and has conducted tests in semi-tractors and farm tractors. For more on green energy initiatives, see Hyundai's Supernal Relocates eVTOL HQ to California.
While the smaller funding round highlights the challenges in securing investment, Amogy's innovative approach to green ammonia could offer a viable solution for decarbonizing heavy transportation. This technology could be particularly relevant given the increasing focus on sustainable shipping, as seen in discussions around Honda's exit from the Cruise robotaxi venture. The company's progress will be important to watch, especially in light of broader trends in AI-driven automation in industries like IT.