Sustainable energy start-up company Amogy has announced its expansion of operations into Singapore.
The Amogy solutions feature “ammonia-cracking technology“, which intends to maximise ammonia’s potential as a renewable energy source in order to aid in decarbonisation efforts and boost global energy security initiatives.
According to the company, its technology systems have five times higher system-level energy densities compared to lithium batteries.
The International Maritime Organisation (IMO) has indicated that by 2050, alternative fuels will contribute to about 64% of overall CO₂ reduction goals.
Amogy CEO and co-founder Seonghoon Woo emphasised the company’s enthusiasm for setting up operations in Singapore and how this can expand its presence: “With our sights set on reducing overall global carbon emissions, we’re thrilled to expand our presence in Asia.
“Singapore is a major player in the international shipping industry and we’re excited to be more closely involved in the progress being made around clean energy adoption here.”
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According to the Global Maritime Forum, ammonia is one of the zero-emission fuel candidates that will drive the transition to shipping decarbonisation.
As stated by Amogy, ammonia is set to become the leading fuel source for the global merchant fleet by 2050.
Furthermore, Singapore has demonstrated a commitment to achieving net-zero emissions by 2050.
This oversaw the Maritime and Port Authority of Singapore (MPA) and the Singapore Energy Market Authority (EMA) collaborate in the fourth quarter of 2022 on an expression of interest to develop an end-to-end zero-carbon ammonia power generation and bunkering solution
“We’re encouraged by recent regulatory efforts in Singapore and the exploration of ammonia as a source of power,” said Svein Erik Oeiestad, head of business development at Amogy.
“We share the MPA and EMA’s belief in ammonia as an efficient hydrogen carrier and look forward to partnering with the government and private sector in order to make clean ammonia power a reality for maritime shipping and power generation.”