"Amogy's ammonia-to-power technology enables Asian countries, with limited renewable resources, to incorporate ammonia in power plants and shipping, providing a cleaner alternative."
"The recent funding round of $23 million, led by Korea Development Bank, increases Amogy's valuation to $700 million, showcasing strong investor interest in clean technology."
Brooklyn-based startup Amogy has successfully navigated U.S. political fluctuations by targeting foreign markets, particularly in Asia. Their ammonia-to-power technology has garnered them $23 million in funding, raising their total to $80 million and resulting in a valuation of $700 million. Key investors include the Korea Development Bank and various venture partners. Asian nations such as Japan and South Korea are adopting ammonia as a hydrogen carrier to replace fossil fuels in power generation and shipping, addressing their limited renewable energy resources and preparing for future carbon regulations.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]