Tokyo [Japan]: OSK Lines (MOL) and MOL PLUS have signed a Memorandum of Understanding (MoU) with Amogy, allowing for the installation of Ammonia-to-power systems on their vessels.
The two companies have also committed to work together to develop an Ammonia supply chain. This is seen as an important step in furthering their environmental initiatives and efforts towards sustainability.
MOL, a leader in the global energy industry, is taking steps to implement Amogy's Ammonia-to-power system on its ships. The company intends to use the system to create an Ammonia value chain, which includes delivering the fuel necessary for vessels equipped with the technology. This move will help bring sustainable and green power solutions to ships around the world.
Amogy has demonstrated its innovative technology across a broad range of applications, from drones to tractors and now even heavy-duty Class 8 trucks. With investment from MOL PLUS, Amogy is aiming to transition this technology into commercial maritime shipping and industrial power generation over the coming years.
Amogy, a startup focused on developing Ammonia-to-power technology, has recently raised $139 million in a round led by SK Innovation. Additionally, Temasek, Korea Zinc, Aramco Ventures, AP Ventures, Yanmar Ventures, Zeon Ventures and DCVC all participated in the round.
The new capital will be used to further Amogy's organisational development and enable the commercialisation and preparation for initial production of its innovative power technology. This is an exciting time for Amogy as it looks to bring its breakthrough technology to the world.
The latest technology in the market is a hybrid fuel cell system that utilizes liquid Ammonia cracking modules to generate power. This revolutionary breakthrough has provided an opportunity for zero-Carbon transportation, such as shipping, by powering electric motors. It is an exciting development that promises to create a greener future for all.
Amogy intends to reveal a ground-breaking, zero-emission tugboat powered by Ammonia by the end of this year. After a successful trial in upstate New York, they plan to present their official commercial offering to the world next year. This is set to be a game-changing development in technology and sustainability.