Sustainable technology company Amogy has closed a Series A funding round that will enable it to advance its first commercial product for ammonia-powered shipping and other transport applications.
Led by hydrogen technologies investor AP Ventures, with new investment from Amazon’s Climate Pledge Fund, the round also included San Francisco-based fund DCVC.
Amogy CEO Seonghoon Woo states that the technology is one of most viable solutions for shipping and other transportation applications in the coming years.
Partnering with Amazon, Amogy will work towards the demonstration of an ammonia-powered clean cargo-shipping vessel. Amazon believes that decarbonising maritime shipping is one of the biggest environmental challenges that has to be addressed to tackle climate change.
AP Ventures MD Andrew Hinkly comments that Amogy’s unique ammonia-based technology offers a compelling emissions-free transport solution, which can fast track the route to net zero.
“We are delighted to continue to support Amogy and lead this investment round,” he states.