Korean energy company LUPRO has entered into a long-term tripartite production, supply and sales agreement with Oman’s Muscat House and Thailand’s MA Corporation for the production and export of renewable ammonia to Asia, beginning in 2027.
H2Global’s new €3 billion auction for long-term supplies of renewable hydrogen and its derivatives has received EU approval, including €1.2 billion for regional funding in Canada and Australia. H2Global also progressed partnerships with the Tokyo Metropolitan Government, and the Solar Energy Corporation of India.
In Japan, the Ministry of Land, Infrastructure, Transport and Tourism, in cooperation with the Ministry of the Environment will invest $212 million in the domestic manufacture of ammonia engines, fuel tanks and components. In Korea, the national Export-Import Bank has committed to supporting ammonia-fueled newbuilds.
In our December episode of Project Features, Woodside Energy joined us to discuss the Beaumont Clean Ammonia Project in the US Gulf Coast. 1.1 million tons per year of lower-carbon ammonia will be produced from 2026, targeting European import markets. The project bolsters Woodside’s existing and future energy commodity export plans, and sets them up as a first-mover in key global markets for low-emission ammonia.
The Industrial Transitions Accelerator has chosen Brazil as the first country partner in its “Project Support Programme”. Four renewable hydrogen, ammonia, fertilizer and methanol projects have been selected to receive support in advancing towards FID. Also in Brazil, developers Fuella and Yamna have launched renewable ammonia production projects in the Ports of Pecém and Açu.
Long-awaited guidelines for tax credits for the production of “clean” hydrogen in the USA have been released, which include “significant changes” and additional flexibility compared to the first draft.
The US Department of Energy has concluded negotiations with two more Hydrogen Hub consortia, committing funding to the Gulf Coast Hydrogen Hub (up to $1.2 billion) and the Midwest Hydrogen Hub (up to $1 billion).
To open the AEA’s 2024 Annual Conference in New Orleans, H2Global Managing Director Timo Bollerhey presented updates from the “green market maker”. To meet global climate targets, we need to accelerate market creation and maturation, and push past key tipping points. H2Global does this by bridging the green premium gap between sellers and buyers and facilitating transactions for clean commodities. A successful first ammonia auction was concluded in 2024, informing plans for a second, larger, truly global auction round that will be launched in the near future.
The AEA and like minded organizations delivered two urgent calls to action at COP29. These documents outline practical actions needed from governments in the next one-to-two years to stimulate demand for clean hydrogen and ammonia. Now through 2025 and 2026, the AEA, its coalition partners, and all our industry members need to channel these messages into national and local policies to scale demand for clean molecules.
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.