Singapore – April 3, 2024 – Amogy, a provider of mature, scalable, and efficient ammonia-to-power solutions, announced today the signing of a Memorandum of Understanding (MOU) with ITOCHU Corporation (“ITOCHU”), a Japan-based global trading and import/export company. This strategic partnership is aimed at exploring the potential application of Amogy’s technology on ITOCHU’s maritime vessels.
Amogy has developed a modularized system that transforms liquid ammonia into electrical power. This innovative technology involves “cracking” liquid ammonia into its base elements of hydrogen and nitrogen. The hydrogen is then funneled into a fuel cell for efficient generation of electricity onboard a vessel. Together, Amogy and ITOCHU will investigate opportunities for deploying Amogy’s system on vessels owned, operated, or chartered by ITOCHU.
Both parties will work closely to identify suitable vessels, offer information for retrofitting existing vessels or designing new ones, and contribute technical expertise and project scoping. This partnership may also extend to other projects within the broader ammonia and hydrogen value chain, including initiatives such as ammonia bunkering projects, advisory services, equipment utilization, and collaborations in ammonia supply.
“We are excited to embark on this journey with ITOCHU Corporation,” says Seonghoon Woo, CEO at Amogy. “This collaboration marks a significant step towards exploring sustainable energy solutions for the maritime industry. Together, we aim to drive innovation and contribute to a greener future.”
“We are glad to collaborate with Amogy and expect Amogy’s solution to be an option for development of our integrated project for using ammonia as a marine fuel,” says Takeo Akamatsu, General Manager of Green Innovation Business Unit at ITOCHU.
To learn more about Amogy and its clean energy technology, please visit www.amogy.co.
About Amogy
Amogy provides carbon-free energy solutions to decarbonize hard-to-abate sectors such as maritime, power generation, and heavy industry. Proven in real-world applications, its patented ammonia cracking technology is mature, scalable and a highly efficient method for splitting liquid ammonia, generating electrical power in combination with hydrogen fuel cells at five times the energy density of lithium batteries.
Amogy is headquartered in Brooklyn, New York, with additional locations including Houston, Texas, Nordbøgaten, Norway, and Singapore. Amogy is backed by investors including Amazon’s Climate Pledge Fund, Temasek, SK Innovation, Aramco Ventures, Mitsubishi Corporation and AP Ventures. For more information, follow Amogy on LinkedIn, X, Instagram, Threads, Facebook, and YouTube, or visit www.amogy.co.
About ITOCHU Corporation
The history of ITOCHU Corporation dates to 1858 when the Company’s founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 160 years. With approximately 90 bases in 61 countries, ITOCHU, one of the leading sogo shosha, is engaging in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas. For more information, go to: www.itochu.co.jp.
Media Contact
amogy@famapr.com
