Ammonia-based, emission-free, high-energy-density power solutions developer Amogy has announced the close of a major funding round.
Led by AP Ventures, a significant investor in breakthrough hydrogen technologies, the round included San Francisco-based funds DCVC and Collaborative Fund, and investor Shaun Arora.
Proceeds will be used for the first commercial demonstration of high-performance clean mobility powered by ammonia.
Transportation accounts for 17% of global and 32% of US greenhouse-gas emissions. As the world transitions to net zero, solutions will be needed to remove carbon from the transportation sector.
Businesses are looking for ways to decarbonise and are investing in low-carbon transportation options, Amogy notes.
It states that batteries and hydrogen fuel cells offer part of the answer, but for weight- and volume-constrained applications such as heavy-duty ground, sea and air transportation, it will be critical to find solutions with high energy density that deliver zero-emission power, without compromising on performance.
Ammonia as an energy carrier offers a compelling solution for these applications, posits Amogy, owing to its significantly higher energy density than batteries or conventional gaseous hydrogen storage.
However, to date, ammonia as an energy carrier has been underexplored owing to the lack of technology which can efficiently extract energy from ammonia in a constrained space, the company informs.
Therefore, it notes that its technology “unlocks the potential of ammonia for mobility applications by providing a highly efficient, lightweight, compact ammonia processor”.
Amogy’s solution can deliver zero-carbon and high-performance mobility in several commercial markets, including unmanned aerial vehicles, off-road vehicles and marine and air transportation systems, accelerating our journey towards a net zero economy, the company points out.
“Our core mission is to enable clean transportation in all spaces using our technology, solving one of the most difficult problems for the net zero [ambition]. Our ammonia-oriented solution will provide emission-free power for mobilities in the areas where batteries and gaseous hydrogen cannot be adopted, working together to expedite the decarbonization in transportation sectors.
“We thank all investors participated in this round for joining our vision,” says Amogy CEO and cofounder Seonghoon Woo.