Swedish wave energy company CorPower Ocean has entered into a partnership with SwitchH2, an offshore floating production systems developer, to create an innovative project for delivering a floating green ammonia production facility that will be partially powered by wave energy. Backed by Norway-based BW Offshore and Dutch Oceans Capital, SwitchH2 is at the forefront of developing industrial-scale offshore green hydrogen and green ammonia production units based on proven FPSO technologies. The project will incorporate wave energy along with wind and solar power to ensure a balance of green electricity. Supported by grant funding from the Dutch government, SwitchH2 aims to launch an open-sea project in northern Portugal utilizing CorPower Ocean’s wave energy technology. The facility will feature a large vessel supporting a 300 MW electrolysis plant on deck, producing green ammonia for export to shore via dedicated shuttle carriers. The project targets a production capacity of nearly 300 kton of green ammonia annually, with production expected to start by 2029. The green ammonia market is poised for significant growth, with projections indicating a rise from $0.7 billion in 2024 to $55 billion by 2032. Green ammonia is seen as a crucial fuel for decarbonizing industries like global shipping, aiming to reduce emissions in hard-to-abate sectors. The collaboration between CorPower Ocean and SwitchH2 signifies a step towards a cleaner, more sustainable future, leveraging renewable energy sources and innovative technologies.