Amogy, a technology firm based in New York, has recently secured $56 million in funding, with a total capital raised of $270 million since its inception. The funding round was co-led by existing investor Aramco Ventures and new investor SV Investment, as well as other backers such as Samsung Heavy Industries. This financial boost will enable Amogy to further develop its innovative technology that converts ammonia into electricity, specifically focusing on ammonia-to-power solutions for applications in shipping and power generation. The process involves cracking ammonia in a reactor to separate hydrogen and nitrogen, eliminating impurities, and utilizing the clean hydrogen in fuel cells or hydrogen engines to produce electricity. The nitrogen byproduct is safely released back into the atmosphere. Amogy's successful demonstration involved retrofitting this technology into the tugboat NH3 Kraken, which completed its inaugural voyage on a tributary of the Hudson River in New York in September 2024. This milestone highlights the potential of Amogy's solutions in revolutionizing the maritime industry by offering sustainable and efficient energy alternatives for powering ships. With the new funding, Amogy aims to accelerate the commercialization of its technology, contributing to the advancement of clean energy practices in key markets.