Mitsubishi, SK Innovation Collaborate with Amogy for Ammonia Cracking Tech Ventures in Asia

Mitsubishi Corporation and Amogy are pleased to announce a strategic partnership aimed at accelerating the adoption of Amogy's innovative ammonia-to-power and ammonia cracking technology, particularly in large-scale hydrogen carrier applications across East Asia, with a primary focus on Japan and South Korea.

The collaboration, set to kick off in December 2023 in conjunction with SK Innovation, will initiate a comprehensive joint study. This study will evaluate the potential of deploying Amogy's technology on a large scale, incorporating a thorough analysis of costs throughout the value chain. Additionally, the partners will explore opportunities for expanding market presence across the ammonia and hydrogen supply chain. Following the initial phase, the three companies intend to explore joint pilot opportunities in strategically significant regions.

Ammonia, recognized for its versatility and widespread use as a chemical compound, has emerged as a promising renewable fuel and a cost-effective carrier of hydrogen. The production process involves combining hydrogen and nitrogen at the export location, with subsequent decomposition (cracking) back into hydrogen and nitrogen occurring at the receiving site. This process facilitates multiple applications, including power generation, making it a safe and efficient means of transportation. Ammonia boasts high energy density, favorable storage characteristics, and a well-established transportation infrastructure due to its use in industrial products such as fertilizer.

Amogy's technology stands out by seamlessly integrating ammonia cracking and hydrogen fuel-cell power generation into a single system. This innovation streamlines and optimizes the utilization of this low-carbon fuel. Furthermore, Amogy's ammonia cracking technology holds significant potential for serving as a hydrogen carrier in large-scale transportation.

Countries like Japan and South Korea, faced with a shortage of abundant renewable resources, find it imperative to import low-carbon fuels. Both nations have identified ammonia as an attractive and commercially viable hydrogen carrier, intending to deploy it for decarbonizing power generation, industrial heat generation, and maritime shipping in the near future. Japan, for instance, aims to utilize 3 million metric tons per year (MTA) of ammonia as fuel by 2030, with plans to increase imports to 30 MTA by 2050. South Korea has ambitious plans to leverage hydrogen and ammonia to meet 7.1% of the country's power demand by 2036.

This collaborative effort signifies a crucial stride toward advancing clean energy solutions, shaping the future of sustainable transportation and hydrogen utilization in both Japan and South Korea. As the imperative to reduce emissions gains urgency in these countries, this partnership underscores the significance of innovative approaches to drive the progression of technologies essential for achieving emission reduction goals.

It's noteworthy that both Mitsubishi Corporation and SK Innovation actively participated in Amogy's recent $150 million Series B fundraising round, with SK Innovation leading the investment. This financial commitment underscores the shared vision and commitment of the partners to advance the development and deployment of Amogy's groundbreaking technology in the pursuit of a cleaner and more sustainable energy landscape.