South Korea’s policy bank has invested significantly in Amogy, a clean power company developing hydrogen fuel cells powered by ammonia. Ammonia is a promising low-emission fuel, but it typically requires carbon-based fuel for combustion and produces nitrogen oxides (NOx) that need to be mitigated. Amogy’s innovative approach avoids combustion by using hydrogen fuel cells, which can’t operate directly on ammonia. Instead, the company has created technology to decompose ammonia into nitrogen and hydrogen, with nitrogen released into the atmosphere and hydrogen used for energy generation, resulting in zero onboard emissions.
While Amogy is still a few years away from a system suitable for merchant ships, it has begun testing on a tugboat and is developing a terrestrial power plant. Recently, the company raised $23 million in funding, led by a tech division of Korea Development Bank (KDB), aimed at enhancing market entry in Asia and scaling power applications.
Korea is keen to advance green propulsion technologies as a competitive advantage in shipbuilding and decarbonization efforts. Amogy’s CEO, Seonghoon Woo, emphasized the growing demand for ammonia as a clean fuel, highlighting its potential in both maritime and terrestrial applications, especially with supportive policies like Korea’s Clean Hydrogen Portfolio Standard.
