GIC & Hy24 will invest $115 million to accelerate the deployment of InterContinental Energy’s portfolio of ammonia mega-projects. In the USA, Electric Hydrogen has closed a $380 million Series C funding round, accelerating plans to build a gigafactory in Massachusetts and deliver its first PEM electrolysers in 2024.
KBR will integrate SolydEra’s solid oxide electrolysis technology into its proprietary K-GreeN® ammonia synthesis process thanks to a new MoU. K-GreeN® is the technology of choice for several significant ammonia mega-projects, including Avina Clean Hydrogen (Texas), and ACME Group (Oman).
KBR will deploy its new H2ACTSM ammonia cracking technology in Daesan, South Korea, delivering 200 tonnes of hydrogen per day as fuel for power generation. The new project is part of Hanwha Corporation’s decarbonisation push which includes co- and 100% firing of hydrogen fuel in gas turbines, ammonia production & export, and ammonia-powered vessels.
With international shipping activity to more than double by 2050, the IEA forecasts that ammonia’s share of final energy consumption in the industry will rise to 44% in 2050, with a suite of other low-carbon fuels to play smaller roles. Lloyd’s Register & OCI HyFuels have also forecast that ammonia (and particularly electrolytic ammonia) will become the most significant fuel in the maritime sector by 2050.
