Amogy raises $56M to commercialize ammonia for heavy duty transit
15 Jan 2025
News
A New York–based startup that sailed what it says was the first ammonia-powered vessel announced Wednesday that it has raised $56 million in new venture funding.
Amogy, which was founded by three Massachusetts Institute of Technology PhD graduates, aims to help decarbonize sectors like maritime shipping that are viewed as more difficult to shift away from fossil fuels. To do that, it created a chemical reactor that “cracks” ammonia — a compound often used in products like fertilizer — into nitrogen and hydrogen. The hydrogen then goes through a fuel cell that can power vessels, trucks, and other machinery, while the nitrogen is released into the air.
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