Amogy, a startup based in Brooklyn, New York, recently announced securing $56 million in venture financing to further develop its technology for decarbonizing transportation, heavy industry, and other sectors. The company, founded in 2020, focuses on offering ammonia-based, emission-free power solutions with high energy density to tackle hard-to-abate sectors like maritime shipping, power generation, and heavy-duty transportation. By converting liquid ammonia into hydrogen and nitrogen, Amogy's technology enables zero-carbon transportation using fuel cells or electric motors. With a goal to reduce more than 5 billion metric tons of CO2-eq emissions by 2040, Amogy has demonstrated its technology successfully in various applications. This includes powering the world's first carbon-free, ammonia-driven maritime vessel and other vehicles like drones, tractors, and semi-trucks. The recent funding round, co-led by Aramco Ventures and SV Investment, attracted a mix of new and existing investors, showcasing confidence in Amogy's technological advancements and its potential for commercial success. The company's CEO, Seonghoon Woo, expressed enthusiasm about the progress made and the support received, highlighting the importance of their technology in achieving decarbonization goals in heavy industries. Ilyong Choi from SV Investment praised Amogy's commitment to research and development and emphasized the adaptability of their solutions for various customer needs. This investment marks a significant step towards Amogy's mission to drive decarbonization efforts and revolutionize the way energy is generated and utilized in the transportation and industry sectors.