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$11.0m

Valuation: $695m

Series B
Total Funding000k

Recent News about Amogy

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Amogy is a pioneering startup in the sustainable energy sector, focusing on the conversion of ammonia into a clean, affordable, and storable energy source. The company's innovative technology aims to decarbonize the transportation industry by 2050, with further applications in large-scale power and hydrogen generation. This groundbreaking approach has the potential to revolutionize not only the transportation sector but the entire energy industry.

Amogy's primary market is the transportation industry, but it also targets large-scale power generation and hydrogen production sectors. The company's business model revolves around developing and commercializing its ammonia-to-power technology. It generates revenue through the sale of its technology to clients in its target markets.

Since its inception, Amogy has shown impressive progress. It successfully engineered the first-ever ammonia-powered emission-free drone flight and demonstrated a 100kW powerpack in a tractor. The company has also presented the world's first ammonia-powered semi-truck. Amogy has secured significant funding, including a $150M Series B funding round led by SK Innovation. It has expanded its operations to Norway and Singapore and plans to open a manufacturing facility in Houston, Texas, by 2024.

By 2024-2025, Amogy intends to offer commercial products ranging from 0.5MW to 5MW for maritime shipping and power generation markets, marking the commercialization of its technology. The company's strategic partnership with Hy2gen further strengthens its position in the market and propels its ammonia-powered energy solutions.

Keywords: Sustainable Energy, Ammonia-to-Power Technology, Decarbonization, Transportation Industry, Large-Scale Power Generation, Hydrogen Production, Emission-Free, Commercialization, Strategic Partnership, Funding.

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