November 28, 2022

  • Amogy’s proprietary ammonia-to-stream system is being considered for future shipping projects with Yara Clean Ammonia (YCA) and external partners.
  • The collaboration is an essential step towards the broader adoption of ammonia as a next-generation carbon-free fuel for the global economy and marine industry.

BROOKLYN, NY and OSLO, Norway, Nov. 09, 2022 (GLOBE NEWSWIRE) — Amogy Inc., a pioneer of zero-emission, energy-dense ammonia energy solutions, has entered into a collaboration agreement with Yara Clean Ammonia (YCA), a decarbonization-focused subsidiary of the world’s leading producer of ammonia, Yara International ASA. Pursuant to this Memorandum of Understanding (MOU), Yara will consider Amogy’s ammonia-to-electricity system as a zero-emission solution for use in future marine projects. The companies will also pursue opportunities with outside partners, including shipowners, to enable Amogy to supply its proprietary technology and YCA clean ammonia.

Based in Oslo, Norway, Yara operates the largest global ammonia network, encompassing ships, access to ammonia terminals, and ammonia production and consumption sites around the world. YCA, a subsidiary of Yara, has high ambitions to commercialize the application of low-carbon blue and renewable green ammonia to enable the decarbonization of hard-to-reduce industries, including the application of clean ammonia as marine fuel. YCA is currently building an ammonia bunkering network in Scandinavia with the first bunkering vessel scheduled to be operational in 2024.

Amogy has developed a proprietary ammonia-to-power platform, previously demonstrated in a drone and a heavy-duty tractor, based on a unique ammonia cracking technology that extracts hydrogen from ammonia on board for use in a fuel cell. Amogy is currently scaling this energy-dense, zero-carbon power system for use on oceangoing vessels to support the decarbonization of global shipping. Amogy, in partnership with Southern Devall, recently announced the first commercial deployment of its technology on an ammonia tanker in 2023.

“This collaboration with Yara Clean Ammonia is a natural next step for Amogy following the establishment of our Norwegian operations earlier this year,” said Seonghoon Woo, Co-Founder and CEO of Amogy. “YCA operates a vast global ammonia network and understands the compound’s value as a next-generation fuel to decarbonize hard-to-reduce sectors like shipping. This agreement provides Amogy with a fantastic opportunity to work with innovators in this field to support further demonstrations of our technology on seagoing vessels.”

As Amogy advances the commercialization of its technology in oceangoing vessels, YCA and Amogy will collaborate on these efforts, including potential integrations in tugboats, barges, offshore support vessels and other vessels.

“Amogy’s collaboration with Yara Clean Ammonia will provide us with further opportunities to demonstrate and provide ammonia-to-power technologies for the maritime sector,” said Christian Berg, Managing Director of Amogy Norway. “As a former member of their team, I am 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 will be able to bring proven zero-carbon fueling options to more changemakers around the world and move closer to our goal of decarbonizing the transportation industry by 2050.”

The global green ammonia market is projected to grow at a CAGR of 94.6% through 2030. With numerous companies citing ambitious decarbonization targets for transport and shipping, alternative fuel and energy solutions are required to meet these standards. Ammonia is already a globally traded commodity, supported 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 to identify new use cases for clean ammonia in global supply chains.

“At Yara Clean Ammonia we take our role in the ammonia and hydrogen ecosystem very seriously. This collaboration with Amogy allows us to explore valuable applications for ammonia as a fuel in the transport, export and trade networks,” said Magnus Krogh Ankarstrand, President of Yara Clean Ammonia. “We are pleased to support their efforts to further demonstrate the viability of ammonia energy technologies in the marine industry and to explore opportunities to integrate their platform into our operations and introduce their technology into existing and future partnerships as a future solution for decarbonization. “

About Amogy

Amogy provides high energy density, zero-emission, ammonia-based energy solutions to decarbonize transportation for a sustainable future. Founded in 2020 by four MIT graduate students with a shared vision, Amogy aims to enable the decarbonization of the heavy transport sector and accelerate the global journey to Net Zero 2050. The company’s investors include Amazon’s Climate Pledge Fund, AP Ventures and SK Innovation, Saudi Aramco Energy Ventures and DCVC. So far, Amogy’s scalable, ammonia-powered, zero-emission energy system has been successfully demonstrated in a drone and a heavy-duty tractor. For more information, visit: www.amogy.co.

About Yara Clean Ammonia (YCA)

Yara advances knowledge to feed the world responsibly and protect the planet. Yara Clean Ammonia is uniquely positioned to enable the hydrogen economy in a market expected to grow significantly over the next few decades. Our goal is to significantly strengthen our leading global position as the world’s largest ammonia distributor, to open up the green and blue value chains and to drive the development of clean ammonia worldwide.

Building on Yara’s leading experience in global ammonia production, logistics and trading, Yara Clean Ammonia works to capture growth opportunities in low-emission marine and energy fuels, zero-carbon food production and ammonia for industrial applications.

Yara Clean Ammonia operates the largest global ammonia network with 12 vessels and through Yara has access to 18 ammonia terminals and multiple ammonia production and consumption sites around the world. Revenue and EBITDA for the trailing 12 months were $4,111 million and $198 million, respectively (as of Q3 2022). Yara Clean Ammonia is headquartered in Oslo, Norway

www.yaracleanammonia.com

Media Inquiries:

For Amogy:

[email protected]

For YCA:

Hilde Steinfeld

[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5c19e72b-8830-4b69-ad55-d4145e5a1a20

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