Ammonia energy funding & acquisitions
By on July 06, 2022
$46 million for Amogy
SK Innovation, Amazon’s Climate Pledge Fund, AP Ventures, Saudi Aramco Energy Ventures, and Newlab have all contributed to a successful capital funding round for New York-based Amogy. Following demonstration of their ammonia-powered tractor, the new funds will go towards further heavy vehicle projects: an eighteen-wheel tractor trailer, and an ocean-going cargo ship.
Based on the investment and the cooperation with Amogy, SK Innovation will do its utmost to develop ammonia-cracking based power technology and expand the market.
SK Innovation spokesperson quoted in Amogy’s official press release, 23 June 2022
€12.5 million for H2SITE
In Spain, H2SITE has closed a successful Series A funding round led by Breakthrough Energy Ventures, Equinor Ventures, ENGIE New Ventures and Tecnalia research centre. The funding will help H2SITE increase manufacturing capabilities in Spain for their membrane-based hydrogen purification system that produces fuel cell purity-hydrogen from cracked ammonia or methanol.
Alfa Laval acquires RenCat
Sweden-based organisation Alfa Laval will acquire RenCat’s patented ammonia reforming technology. RenCat is a Danish start-up familiar to our readers at Ammonia Energy, and first launched their cracking and hydrogen purification technology system in 2017. Alfa Laval is busy in the maritime fuel space, having already partnered with Topsøe on the Ammonfuel report in 2020.