Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel

Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel


In the race to find cleaner fuels, the heavy duty transportation sector is woefully behind because batteries don’t have enough juice to power trucks and ships. Enter ammonia. New technology and new companies are working on turning ammonia into hydrogen to power tractors, trucks and even ships.

The heavy duty trucking industry alone accounts for almost a quarter of all greenhouse gas emissions from transportation. Emissions from shipping increased nearly 10% from 2012 to 2018, according to the International Maritime Organization. Ships release nearly 1 billion metric tons of carbon dioxide each year, which is about equal to the annual carbon outputs of Texas and California combined.

related investing news

Goldman predicts clean hydrogen will be a $1 trillion market. Here's how to play it.

CNBC Pro

So companies like Man Energy Solutions, Wartsila, and Amogy, a startup based in Brooklyn, are working on ammonia-based alternatives.

“Our proprietary technology enables bringing efficient and effective conversion of ammonia to hydrogen so that you can use that process onboard in the vehicle to produce hydrogen, and then use that produced hydrogen to run the vehicle using the fuel cell,” explained co-founder and CEO Seonghoon Woo.

The technology enables the on-board “cracking” (or decomposition) of ammonia into hydrogen, which is then sent into a fuel cell to power a vehicle. Liquid ammonia’s energy density is approximately three times greater than compressed hydrogen.

Amogy just tested its technology on a semi-truck, and has already made it work on a John Deere tractor as well as a drone. The next step toward clean shipping is a tugboat.

“We are partnering a lot with industry stakeholders in shipping and heavy manufacturing in heavy industries. So certainly the collaboration is the key to scale the new technology like ours, to really scale it and also penetrate to the market,” said Woo.

One of Amogy’s investors, Saudi Aramco, is the largest petroleum producer in the world, but sees ammonia as part of its future.

“It really opens up new markets for hydrogen through the ammonia low-carbon vector, which we are betting on as a favorable way of transporting hydrogen,” said Ahmad Al-Khowaiter, chief technology officer at Saudi Aramco.

“It’s going to be a growing market in a carbon-constrained world. Such products are going to be more valuable, and the market for that and demand is going to rise, so we see this as very positive from our shareholders perspective,” he added.

In addition to Saudi Aramco, Amogy is backed by Amazon‘s Climate Pledge Fund, AP Ventures, SK Innovation and DCVC. The startup has raised $70 million so far.

CNBC producer Lisa Rizzolo contributed to this piece.



Source

Ulta shares pop as beauty retailers hikes sales and earnings outlook for second straight quarter
Business

Ulta shares pop as beauty retailers hikes sales and earnings outlook for second straight quarter

An Ulta Beauty store in Concord, California, US, on Wednesday, Dec. 3, 2025. David Paul Morris | Bloomberg | Getty Images Ulta Beauty on Thursday raised its full-year sales outlook after topping Wall Street’s expectations for the fiscal third quarter. The beauty retailer said it now expects net sales for the year to be approximately […]

Read More
Starbucks Workers United holds rally in NYC as strikes continue for a third week
Business

Starbucks Workers United holds rally in NYC as strikes continue for a third week

NEW YORK — Starbucks Workers United held a rally outside the Empire State Building on Thursday as its open-ended strike entered its third week and no signs of an impending resolution. Adding to the crunch of holiday shoppers and tourists, several hundred picketers gathered outside of the famous landmark, which is also the site of […]

Read More
Paramount questions Warner Bros. Discovery on ‘fairness and adequacy’ of sale process: Read the full letter
Business

Paramount questions Warner Bros. Discovery on ‘fairness and adequacy’ of sale process: Read the full letter

A bus passes near Warner Bros. Studio on Sept. 12, 2025 in Burbank, California. Mario Tama | Getty Images Paramount Skydance is calling foul on how Warner Bros. Discovery has conducted its sale process. In a letter reviewed by CNBC, Paramount attorneys told Warner Bros. Discovery CEO David Zaslav that Paramount was questioning the “fairness […]

Read More