Mitsubishi Corporation and Amogy are forming a strategic partnership that will focus on accelerating the adoption of Amogy’s ammonia-to-power and ammonia cracking technology in large-scale hydrogen carrier applications in East Asia, particularly Japan and South Korea.
The joint study, commencing in December 2023 with SK Innovation, will first 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 the completion of the initial phase, the three companies are looking to explore joint pilot opportunities in the strategic regions.
Ammonia has emerged as a promising renewable fuel and a cost-effective carrier of hydrogen. Ammonia can be created by combining hydrogen and nitrogen at the export location. It is then decomposed (cracked) back to hydrogen and nitrogen at the receiving site and used in multiple applications, a process that enables safe and efficient transportation. Ammonia has high energy density, favourable storage characteristics, and a well-established transportation infrastructure due to its use in industrial products such as fertiliser. 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 utilised as a hydrogen carrier in large-scale transportation.
Countries such as Japan and Korea suffer from the lack of abundant renewable resources, necessitating the import of low-carbon fuels. Both countries have identified ammonia as an attractive and commercially viable hydrogen carrier and plan to use it to decarbonise industries including maritime in the near future. Japan plans to utilise 3m tons per year of ammonia as fuel by 2030 and anticipates increasing its ammonia imports to 30m tons by 2050. Korea has announced plans to adopt hydrogen and ammonia to meet 7.1% of the country’s power demand by 2036.
Both Mitsubishi Corporation and SK Innovation have participated in Amogy’s recent US$ 150m Series B fundraising which was led by SK Innovation.
