Amogy, a hydrogen-based ammonia-to-power technology firm in the US, has recently secured $56 million in venture financing from significant players like Samsung, Hanwha, Temasek, MOL, and several others. This funding round, co-led by Aramco Ventures and SV Investment, with participation from other notable investors, aims to support Amogy in commercializing its innovative ammonia cracking technology. The company plans to integrate this technology with hydrogen fuel cells and engines for applications in the maritime and stationary power sectors, with anticipated deployments by 2026. Amogy's technology offers a breakthrough in cracking ammonia at lower temperatures and in smaller footprints compared to current solutions, enabling diverse transportation use cases. A recent milestone involved using this technology to power a 1957 tugboat during a journey down the Hudson River, demonstrating its efficacy in decarbonizing heavy industries. CEO Seonghoon Woo expressed confidence in the technology's viability and effectiveness, highlighting strong support from premier investors across industries. Ammonia, considered easier to store and transport than hydrogen, is seen as a potential key fuel for future shipping, aligning with the maritime industry's efforts to achieve Net Zero emissions by 2050. The article also discusses the maritime industry's commitment to carbon neutrality, driven by the International Maritime Organization's revised targets for reducing greenhouse gas emissions. Strategies include the uptake of zero or near-zero emission fuels and technologies to significantly cut emissions by 2030 and achieve Net Zero by 2050. The IMO's recent discussions on draft outlines for a Net Zero framework emphasize the industry's transition towards sustainable shipping practices.