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The lines between climate tech and infrastructure startups have become increasingly blurred. Investments in infrastructure startups over time. Permitting remains a massive roadblock for climate projects and modularity can be one way to "get around some of those hurdles," added Ben Wolkon, partner at MUUS Climate Partners. Modular tech can also be distributed and containerized, with some startups hoping to roll out with partners on-site. It's not just industrial startups that are going modular and distributed — it encompasses carbon capture, water filtration, food systems, and energy, said Regeneration.VC's Hoffman.
Persons: Katie Hoffman, Mike Schroepfer, Seonghoon Woo, Tim Boeltken, Sierra Peterson, Ben Wolkon, It's, Regeneration.VC's Hoffman Organizations: Business, Venture, Investments, Facebook, Gigascale, MUUS Climate Partners Locations: Paris, New York
We got an exclusive look at the 18-slide deck Amogy used to raise the money. A startup betting on ammonia as a next-generation fuel has just secured $139 million in an all-equity Series B extension. New York-based Amogy has created a retrofit energy system to replace engines, which allows ammonia to be used as a fuel. Ammonia is predicted to account for 45% of all shipping fuel in a net zero 2050 scenario modeled by the International Energy Agency. The company is also working with upstream players to help decarbonize the fuel, Woo said.
New technology and new companies are working on turning ammonia into hydrogen to power tractors, trucks and even ships. 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. "We are partnering a lot with industry stakeholders in shipping and heavy manufacturing in heavy industries. One of Amogy's investors, Saudi Aramco, is the largest petroleum producer in the world, but sees ammonia as part of its future. In addition to Saudi Aramco, Amogy is backed by Amazon 's Climate Pledge Fund, AP Ventures, SK Innovation and DCVC.
The race to find clean fuel: Ammonia-powered transportation
  + stars: | 2023-01-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe race to find clean fuel: Ammonia-powered transportationSeonghoon Woo, Amogy CEO and co-founder, joins "Power Lunch' in a clean energy startup spotlight about Amogy's ability to convert ammonia to hydrogen fuel, the company's brand partnerships, and its current funders.
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