Amogy, a New York-based provider of emission-free, energy-dense ammonia power solutions, raised $11M in Series B-2 funding.
The round, which brought the total amount to $150M, saw participation from Marunouchi Climate Tech Growth Fund, Mitsubishi Corporation, Mitsubishi Heavy Industries America and Synergy Marine. In March, Amogy announced its Series B-1 round of $139M led by SK Innovation.
The company intends to use the funds for commercialization, beginning manufacturing of its ammonia-to-power technology, and bring its first product to market in 2024.
Led by CEO Seonghoon Woo, Amogy offers ammonia-based, emission-free, high energy-density power solutions to decarbonize transportation for a sustainable future. Founded in 2020, the company aims to enable the decarbonization of the heavy-duty transportation sector, accelerating the global journey towards Net Zero 2050. Upon the successful sail of the tugboat later in 2023 in upstate New York, Amogy intends to present its first commercial offering in 2024 and more.
FinSMEs
05/06/2023