NatWest’s five-year Climate for Transition (CFT) framework will see the UK bank finance £200 billion worth of investments aligned with climate and transition focused finance. Low carbon fuels such as CCS-based and renewable hydrogen and ammonia feature prominently in the framework.
A new joint venture between AFC Energy and Industrial Chemicals Group will use AFC Energy’s proprietary ammonia cracking technology to produce and deliver high purity hydrogen to the UK market at competitive prices.
The UK’s Maritime and Coastguard Agency has set out timelines and processes for operators of ammonia-fueled vessels to engage with authorities in preparation for operations in UK waters. Ammonia fuel is included in the Department of Transport’s first-ever Maritime Decarbonisation Strategy, with as much as 70% of the forecast fuel mix being ammonia by 2050.
27 low-emission hydrogen projects have been shortlisted for funding by the UK’s Department for Energy Security and Net Zero, including Statkraft’s marine ammonia fuel project in Shetland. The UK government has also confirmed that it will exempt electricity used in electrolysis from the Climate Change Levy - one of fourteen policy recommendations from the authors of the Splitting the Difference roadmap to reduce the price of producing electrolytic hydrogen in the UK by 58%.
Aviation investor SkiesFifty has announced a new partnership with UK-based Catalsys to develop ammonia-based power systems. The pair will focus on deployment in two areas: ground operations for aviation, and aircraft propulsion systems.
Equinor has taken Final Investment Decision on two of the UK’s first-ever CCS projects, which will enable low-emission hydrogen and ammonia production at industrial sites on the Tees and Humber Rivers in northeast England.
2024 has seen successful funding rounds for a number of ammonia energy startups, ranging in focus from catalyst development to next-generation, modular synthesis technologies.
