Reported about 8 hours ago
Amogy, a Brooklyn-based startup, has raised $80 million to advance its ammonia-to-power technology aimed at ships and data centers, focusing on markets in Japan, South Korea, and Singapore. This funding follows a $23 million round led by the Korea Development Bank and signifies the company's increasing valuation to $700 million. Amogy's innovative approach aims to replace fossil fuels with ammonia, enhancing carbon reduction efforts in power generation and shipping as Asian nations begin incorporating ammonia into their energy infrastructure.
Source: YAHOO