In collaboration with SK Innovation, Amogy is set to commence a joint study in December 2023 to assess a large-scale deployment of Amogy’s technology, including analysis of costs across the value chain, and explore opportunities for market expansion across the ammonia and hydrogen supply chain.
Upon completing the initial phase, three companies are looking to explore joint pilot opportunities in the strategic regions.
Amogy’s technology combines ammonia cracking and hydrogen fuel-cell power generation into a single system, enabling streamlined and efficient use of this low-carbon fuel. In addition, Amogy’s ammonia cracking technology is expected to have high potential to be utilized as a hydrogen carrier in large-scale transportation.
Both Japan and South Korea have identified ammonia as an attractive and commercially viable hydrogen carrier and plan to use it to decarbonize their power generation, industrial heat generation, and maritime shipping in the near future.
Japan plans to utilize 3 million metric tons per year (mta) of ammonia as fuel by 2030 and anticipates increasing its ammonia imports to 30 mta by 2050. Korea announced ambitious plans to utilize hydrogen and ammonia to meet 7.1% country’s power demand by 2036.
According to Mitsubishi and Amogy, this collaboration marks an important step towards advancing clean energy solutions for a sustainable future by informing how hydrogen is transported and utilized, transforming the energy landscape in both Japan and Korea.
Both Mitsubishi Corporation and SK Innovation have participated in Amogy’s recent $150 million Series B fundraising which was led by SK Innovation.
