Amogy and MOL sign MoU on ammonia-to-power system for ships

Amogy Inc., Mitsui O.S.K. Lines, Ltd., and MOL PLUS Co., Ltd. on Thursday (23 March) announced the signing of a Memorandum of Understanding (MoU) for the development of Amogy’s ammonia-to-power systems on ships and for the establishment of an ammonia supply chain.

In accordance with the signing of the MoU, MOL PLUS invested in the Series B financing of Amogy.

With the objective of supporting social implementation of Amogy‘s ammonia-to-power system technology, MOL intends on using an ammonia-to-power system on MOL Group-operated vessels and support initiatives to establish an ammonia value chain, including the supply of ammonia fuel to ships equipped with ammonia-to-power system.

MOL PLUS participated in this financing round to promote collaboration. With the investment, MOL PLUS expects Amogy to make significant contributions to the decarbonisation of ships and trucks and to the reduction of GHG emissions.

Amogy has already demonstrated its innovative technology in a drone (5 kW), tractor (100 kW), and most recently, a Class 8 truck (300 kW). AMOGY plans to commercialise its technology to maritime shipping and potentially industrial power generation applications in the next few years.

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Photo credit: Amogy
Published: 27 March, 2023