Congratulations to Amogy in its big Series B-1 to scale up its 10X better ammonia “cracker” key to zero-carbon power for trucks and cargo ships
By James Hardiman and Zachary Bogue 03.22.23
Amogy’s breakthrough catalyst and ammonia “cracking” technology unlocks the promise of hydrogen power to decarbonize the shipping and heavy transport industries—two of the largest sources of greenhouse gas emissions. DCVC is excited to continue to back Amogy in its $139 million Series B-1 financing announced today to help scale its platform.
Amogy’s catalyst is at least ten times more efficient than conventional technology at low temperature in converting ammonia to hydrogen, which is then used to power hydrogen fuel cells that drive an engine. Ammonia is a superior way to “store” hydrogen aboard a ship or truck because of its high energy density at room temperature and pressure, which allows it to avoid many of the safety and other physical limitations of storing hydrogen gas.
To date, Amogy has demonstrated its technology in increasingly demanding systems: from a drone, to a John Deere tractor, to a semi-tractor trailer. Later this year, the company’s tugboat is expected to become the first ship in history powered entirely by ammonia. Amogy intends to begin selling its systems in 2024.
Amogy is a prime example of the types of Deep Tech companies we like to back: entrepreneurs pursuing a trillion-dollar opportunity in the climate space enabled by a computationally powered breakthrough in materials science. We eagerly await the maiden voyage of Amogy’s tugboat—which we believe can haul commercial transportation into the promised land of zero carbon emissions.
James Hardiman is a Partner at DCVC. Zachary Bogue is Co-Founder and Co-Managing Partner of DCVC.