Amogy, an energy technology company, has successfully secured $56 million in venture financing led by Aramco Ventures and SV Investment to support the development of its ammonia-to-power systems. The funding round also saw participation from investors like Samsung Heavy Industries and BHP Ventures. This funding aims to aid the company in scaling its operations and expanding its presence in key markets for sectors such as shipping and power generation. A significant achievement for Amogy was the demonstration of the NH3 Kraken in September 2024, marking the world's first ammonia-powered maritime vessel. The vessel utilizes Amogy's innovative technology, breaking down ammonia into hydrogen and nitrogen to power either a fuel cell or engine. This breakthrough showcases the potential of ammonia as a carbon-free energy source, particularly in hard-to-abate industries. Seonghoon Woo, the CEO and co-founder of Amogy, expressed excitement over the investor support, emphasizing the viability of ammonia-to-power technology in combating emissions. The company intends to focus on maritime shipping and stationary power generation as areas where its technology can make a substantial impact. Investors, including BHP Ventures, praised Amogy's approach for enabling the use of ammonia in applications that were historically challenging due to technical and economic constraints. The adoption of ammonia-powered systems could play a critical role in decarbonizing maritime shipping, aligning with the IMO's Greenhouse Gas Strategy objectives. Despite the promising outlook, the adoption of ammonia hinges on addressing safety concerns, providing adequate training, and developing safer ship designs, according to a recent survey from the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping. This emphasizes the importance of overcoming barriers to ensure the widespread implementation of ammonia-powered systems in the future.