- Amogy’s proprietary ammonia-to-power system will be considered for future shipping projects with Yara Clean Ammonia (YCA) and external partners.
- Collaboration represents an essential step toward broader adoption of ammonia as a next-generation, carbon-free fuel for the global economy and shipping industry.
BROOKLYN, N.Y. and OSLO, Norway, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Amogy Inc., a pioneer of emission-free, energy-dense ammonia power solutions has signed a collaboration agreement with Yara Clean Ammonia (YCA), a decarbonization-focused subsidiary of leading global ammonia producer, Yara International ASA. Under this memorandum of understanding (MOU), Yara will consider Amogy’s ammonia-to-power system as a zero-emissions solution for use within future shipping projects. The companies will also pursue opportunities with external partners, including shipowners, for Amogy to deliver its proprietary technology and YCA to deliver Clean Ammonia.
Based in Oslo, Norway, Yara operates the largest global ammonia network, which includes ships, access to ammonia terminals, and ammonia production and consumption sites across the world. YCA, a subsidiary of Yara, has large ambitions to commercialize the application of low carbon Blue and renewable Green Ammonia to enable decarbonization of hard to abate industries, including the application of Clean Ammonia as a marine fuel. YCA is currently building an ammonia bunkering network in Scandinavia with the first Bunker Barge to be operational in 2024.
Amogy has developed a proprietary ammonia-to-power platform, already demonstrated in a drone and heavy-duty tractor, which relies on a unique ammonia cracking technology in which hydrogen is extracted from ammonia on-board for use in a fuel cell. Amogy is currently scaling this energy-dense, zero-carbon power system for use in maritime vessels, to support the decarbonization of global shipping. Amogy also recently announced the first commercial deployment of its technology in an ammonia tank barge in 2023, in partnership with Southern Devall.
“This collaboration with Yara Clean Ammonia is a natural next step for Amogy following the establishment of our Norway operations earlier this year,” said Seonghoon Woo, Co-Founder and CEO of Amogy. “YCA operates a vast global ammonia network and understands the value of the compound as a next-generation fuel to decarbonize hard-to-abate sectors, like shipping. This agreement provides a fantastic opportunity for Amogy to work alongside innovators in this space to support further demonstrations of our technology in maritime vessels.”
As Amogy pursues commercialization of its technology within oceangoing vessels, YCA and Amogy will collaborate for these efforts, including potential integrations in tugboats, barges, offshore supply vessels and other ships.
“Amogy’s work with Yara Clean Ammonia will provide us with more opportunities to demonstrate and deliver ammonia-to-power technologies to the maritime sector,” said Christian Berg, Managing Director for Amogy Norway. “As a former member of their team, I’m very familiar with YCA’s commitment to driving innovation in ammonia production and transportation to support cleaner shipping and food production. With access to YCA’s ammonia and partner portfolio, Amogy can introduce proven zero-carbon fueling opportunities to more changemakers around the world and move toward our goal of decarbonizing the transportation industry by 2050.”
The global green ammonia market is expected to grow at a CAGR of 94.6% through 2030. With numerous entities citing ambitious decarbonization goals for transportation and shipping, alternative fuel and power solutions are required to meet these standards. Ammonia is already a globally-traded commodity backed by existing infrastructure and transportation networks. The production of clean ammonia further lowers the environmental impact of the compound for use in transportation and food production applications. Partnerships between companies like Amogy and Yara Clean Ammonia are essential to demonstrate ammonia as a zero-carbon fuel solution and identify new use cases for clean ammonia within global supply chains.
“At Yara Clean Ammonia, we take our role within the ammonia and hydrogen ecosystem very seriously. Through this collaboration with Amogy, we can explore valuable applications for ammonia as a fuel within the transportation, export and trading networks,” said Magnus Krogh Ankarstrand, president of Yara Clean Ammonia. “We’re excited to support their efforts to further demonstrate the viability of ammonia power technologies in the shipping industry and explore opportunities to integrate their platform into our operations as well as the introduction of their technology to existing and future partnerships, as a future solution for decarbonization.”
About Amogy
Amogy offers ammonia-based, emission-free, high energy-density power solutions to decarbonize transportation for a sustainable future. Founded in 2020 by four MIT PhD alumni with a shared vision, Amogy aims to enable the decarbonization of the heavy-duty transportation sector, accelerating the global journey towards Net Zero 2050. The company’s investors include Amazon’s Climate Pledge Fund, AP Ventures, SK Innovation, Saudi Aramco Energy Ventures and DCVC. To date, Amogy’s scalable ammonia-powered, zero-emissions energy system has been demonstrated with success in a drone and heavy-duty tractor. More info at: www.amogy.co.
About Yara Clean Ammonia (YCA)
Yara grows knowledge to responsibly feed the world and protect the planet. Yara Clean Ammonia is uniquely positioned to enable the hydrogen economy in a market expected to grow substantially over the next decades. We aim at significantly strengthening our leading global position as the world’s largest ammonia distributor, unlocking the green and blue value chains, and driving the development of clean ammonia globally.
Building on Yara’s leading experience within global ammonia production, logistics and trade, Yara Clean Ammonia works towards capturing growth opportunities in low-emission fuel for shipping and power, carbon-free food pro-duction and ammonia for industrial applications.
Yara Clean Ammonia operates the largest global ammonia network with 12 ships and has access to 18 ammonia terminals and multiple ammonia production and consumption sites across the world, through Yara. Revenues and EBITDA for the last 12 months were USD 4,111 million and USD 198 million respectively as per Q3 2022. Yara Clean Ammonia is headquartered in Oslo, Norway
www.yaracleanammonia.com
Media inquiries:
For Amogy:
amogy@fischtankpr.com
For YCA:
Hilde Steinfeld
hilde.steinfeld@yara.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5c19e72b-8830-4b69-ad55-d4145e5a1a20
