Tuesday, September 27, 2022

Amogy and Amon Maritime Sign Commercial Collaboration Agreement

Amogy Inc., a pioneer of emission-free, energy-dense ammonia power solutions, and Amon Maritime, an ammonia-powered shipping and technology company, today announced that they have signed a memorandum of understanding (MOU) to advance carbon-free, ammonia power solutions for the global shipping industry. Both companies are engaged in cutting-edge research, engineering, and business efforts in the ammonia-powered maritime space and will collaborate to accelerate the decarbonization of global transportation. This partnership will empower Amogy and Amon Maritime to bring zero-carbon ammonia-powered shipping to market rapidly, offering an edge over competitors operating in this space.

Amon Maritime is solely focused on commercialising ammonia as fuel in several shipping segments. In 2020 they launched Viridis Bulk Carriers, together with Navigare Logistics and Mosvolds Rederi, which will offer zero carbon shipping in the short sea bulk segment in Europe. In co-operation with ECONNECT Energy, they launched last year Azane Fuel Solutions, which will offer safe, cost effective, scalable ammonia bunkering terminals, and thus delivering critical infrastructure for the adoption of ammonia as fuel. Amogy has developed a proprietary ammonia-to-power technology platform to decarbonize the global transportation industry. The technology has been demonstrated successfully in an aerial drone and farming tractor, and the Amogy team is already working on scaling the platform for use in larger vehicles, including ships. 

Amogy’s platform will be evaluated for use across current and future Amon Maritime initiatives, which span much of the ammonia-powered shipping value chain. Together, the companies will work to identify ways to make scalable, decarbonized power solutions accessible to the shipping industry through pilot and full-scale commercial projects.

“This partnership with Amon Maritime is a very important milestone for Amogy, as we focus our attention on demonstrating the viability of our unique ammonia-to-power system in seagoing vessels,” said Seonghoon Woo, CEO and Co-Founder at Amogy. “With their existing, high-value relationships, Amon Maritime is the perfect partner to help deliver game-changing ammonia power solutions to more of the shipping industry.”

“The global shipping industry recognizes an urgent need for efficient and scalable solutions to decarbonize operations. In Amogy, we have identified a partner to help expedite the commercialization of ammonia power for use in these vessels,” said André Risholm, Founder & CEO at Amon Maritime. “We’re excited to collaborate with the entire Amogy team to offer our global shipping partners pioneering solutions for lowering emissions while maintaining efficient operations using ammonia.”

Globally, shipping accounts for approximately 3% of greenhouse gas emissions, and the International Maritime Organization estimates that ships release roughly one billion metric tons of COinto the atmosphere annually. Decarbonizing this hard-to-abate industry remains a challenge due to the size and operational requirements associated with global shipping. Ammonia has emerged as a viable alternative fuel for shipping, traded on a global scale and supported by existing transportation and storage infrastructure.

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 has been invested in by 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.com.

About Amon Maritime

Amon Maritime is an ammonia-powered shipping and technology company, working with leading technology, commercial, and financial partners, to realize the first ammonia-powered ships – and thus realize its vision of creating the World’s first carbon free shipping company. Established in 2019 by founders with strong backgrounds from complex ship newbuilding projects from idea to operations, expert knowledge of gas engines, fuel supply, zero emission solutions and innovative ship designs. Amon Maritime is one of the founding partners in Viridis Bulk Carriers, together with Navigare Logistics and Mosvolds Rederi, and in Azane Fuel Solutions, together with ECONNECT Energy. More info at: www.amonmaritime.com

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