Amogy, a U.S.-based startup specializing in ammonia power generation, will install its system on an ammonia carrier constructed by South Korean shipbuilding giant Hanwha Ocean. This announcement was made by Amogy’s CEO, Seonghoon Woo, during a press conference in Japan.
（Text by Hirofumi Yamamoto)
On June 27, 2024, Seonghoon Woo, CEO of Amogy, held a press conference in Tokyo. During the event, Woo revealed that Amogy’s ammonia power system would be installed on an ammonia carrier built by Hanwha Ocean. This marks Hanwha Ocean as the first commercial customer of Amogy’s system post-commercialization. Additionally, in August 2024, Amogy plans to launch the world’s first ammonia-fueled demonstration tugboat, showcasing the viability of ammonia as a marine fuel.
■Amogy to Equip Hanwha Ocean’s ammonia carrier with Ammonia Power System
Amogy, a U.S.-based startup specializing in ammonia power generation, will install its system on an ammonia carrier constructed by South Korean shipbuilding giant Hanwha Ocean. This announcement was made by Amogy’s CEO, Seonghoon Woo, during a press conference in Japan.
On June 27, 2024, Seonghoon Woo, CEO of Amogy, held a press conference in Tokyo. During the event, Woo revealed that Amogy’s ammonia power system would be installed on an ammonia carrierbuilt by Hanwha Ocean. This marks Hanwha Ocean as the first commercial customer of Amogy’s system post-commercialization. Additionally, in August 2024, Amogy plans to launch the world’s first ammonia-fueled demonstration tugboat, showcasing the viability of ammonia as a marine fuel.
Reflecting on the company’s journey since its founding at the end of 2020, Woo stated, “In the first three years, we focused on proving the superiority of our ammonia power generation technology and scaling it up through demonstration experiments.”
Looking ahead, Woo added, “This summer, we will complete our demonstration ammonia-fueled vessel. Over the next few years, we aim to commercialize our products and introduce them to the maritime market.”
Founded in New York at the end of 2020, Amogy developed an ammonia power generation system that generates hydrogen from liquid ammonia using a proprietary ammonia-cracking device and produces electricity through hydrogen fuel cells. Woo, a young entrepreneur at 35 and a graduate of MIT, leads this innovative startup.
■$220 million in funding
To date, Amogy has raised a total of $220 million in funding. Investors include Amazon’s Climate Pledge Fund, Saudi Aramco’s investment arm, and several Japanese companies such as Mitsui O.S.K. Lines, Mitsubishi Corporation, Yanmar, and Mitsubishi Heavy Industries.
Specifically, on June 28, 2024, Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries, announced the completion of a feasibility study for a carbon-free marine power generation system that combines an ammonia-cracking device and hydrogen fuel cells, in collaboration with Amogy. The two companies are researching two ammonia solution concepts: supplying cracked hydrogen as pilot fuel for main ammonia engines and other related technologies.
Additionally, on March 23, 2023, Mitsui O.S.K. Lines, MOL PLUS, and Amogy signed a memorandum of understanding to explore the use of Amogy’s ammonia power generation system for ships and the establishment of an ammonia supply chain. In conjunction with this agreement, MOL PLUS decided to invest in Amogy.