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

More than 100 lawmakers push Starbucks to resume union negotiations
Business

More than 100 lawmakers push Starbucks to resume union negotiations

Starbucks workers and supporters practice picket outside a Starbucks location in New York, US, on Wednesday, Oct. 1, 2025. Michael Nagle | Bloomberg | Getty Images More than 100 lawmakers urged Starbucks to resume bargaining talks with Workers United, the union representing the coffee giant’s baristas, in letters sent to CEO Brian Niccol on Monday. […]

Read More
Kia previews next-gen Telluride SUV as ‘new benchmark’ for brand
Business

Kia previews next-gen Telluride SUV as ‘new benchmark’ for brand

DETROIT – Kia on Monday previewed its next-generation Telluride SUV that the company is describing as a “new benchmark for the brand’s design and ambition.” The first-generation Telluride has been a standout success for the South Korean car brand since it launched in 2019, at many times ranking as one of the most highly in-demand […]

Read More
Disney’s newest cruise ship, the Destiny, is getting ready to set sail: Here’s a peek inside
Business

Disney’s newest cruise ship, the Destiny, is getting ready to set sail: Here’s a peek inside

Hero Minnie will appear on Disney’s newest cruise ship the Disney Destiny. Disney The Disney fleet is expanding yet again. Later this month, the Disney Destiny cruise ship will make its maiden voyage from Port Everglades in Fort Lauderdale, Florida, officially becoming the seventh ship in the company’s lineup. The Destiny, which is 221 feet tall […]

Read More