Ammonia power solutions firm Amogy Inc. on Tuesday (18 April) said it entered into a Memorandum of Understanding (MoU) with SGX-listed regional integrated marine logistics company Marco Polo Marine Ltd.
Under the terms of their MoU, Amogy’s proprietary ammonia-to-power system would also be installed on Marco Polo Marine’s existing or newly built wind vessels, allowing them to operate with zero emissions.
The collaboration dovetails with Marco Polo Marine’s efforts to decarbonize the shipping sector and reduce the carbon footprint of offshore wind farms through the adoption of more sustainable and green practices. The partnership will also allow Amogy to fine-tune its ammonia-to-power solution in order to more effectively support the specific types of wind vessels (including, but not limited to, CSOVs and SOVs).
“We’re delighted to work with a respected and innovative maritime operator that shares our bold vision for a greener and more sustainable future,” said Seonghoon Woo, CEO of Amogy. “The APAC region’s commitment to clean fuels makes it important that we have an impact here and we hope that our partnership with Marco Polo can serve as a powerful example for other maritime operators.”
The Maritime & Port Authority of Singapore (MPA) and the Singapore Energy Market Authority (EMA) recently launched an Expression of Interest (EOI) process to build, own and operate low or zero-carbon power generation and bunkering projects on Jurong Island, noting that they saw ammonia power as a “promising pathway” to decarbonization.
“We welcome the opportunity to collaborate with Amogy and combine our environmentally friendly and innovative technologies. We think that Amogy’s ability to convert ammonia to gaseous hydrogen in our wind vessels is a step in the right direction that brings us closer to our long-term goal of decarbonizing the maritime industry by reducing greenhouse gas emissions. Additionally, it will help speed up the global transition towards clean energy sources,” said Sean Lee, CEO of Marco Polo Marine.
The MoU announcement comes after the news of Amogy’s recent $139 million B-1 raise. The round will enable Amogy to continue its organizational development to support commercialization, begin manufacturing its innovative ammonia-to-power technology, and bring its first product to market in 2024.
This all also comes after Amogy announced it is building a zero-emission ammonia-powered vessel with the intention of sailing the vessel in late 2023.
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Photo credit: Amogy
Published: 19 April, 2023
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