Category: Financing

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COP27: EU forms new partnerships

By on December 02, 2022
The European Commission has signed strategic partnerships with three countries at COP27: Namibia, Kazakhstan and Egypt. Key cooperation areas include boosting the rollout of renewable energy generation for hydrogen production, and European investment to finance renewable hydrogen production. Also in Sharm el-Sheikh, German Chancellor Olaf Scholtz announced the first tender process for H2Global will shortly commence, with a further €4 billion to be invested into the pay-for-difference initiative.

Article

Singapore: investments, a green corridor partnership and a new bunkering vessel project

By on August 18, 2022
Singapore’s sovereign wealth fund GIC and UK-based Carlyle will both invest in the development of Eneus Energy’s renewable ammonia project pipeline, with plants in the US and UK planned. The Maritime & Port Authority Singapore and Port of Rotterdam have agreed to establish a green maritime corridor by 2027. The agreement will help accelerate the deployment of alternative maritime fuels like ammonia on the critical shipping route, which links two of the world’s largest bunkering ports. And a trio of organisations - PaxOcean Engineering, Hong Lam Marine and Bureau Veritas will jointly develop an ammonia bunkering vessel design.

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More funding for ammonia energy: ReMo & Monolith

By on July 19, 2022
ReMo Energy has just closed a successful $5 million seed funding round to develop renewable ammonia production solutions for the US Midwest. Monolith Materials announced a successful funding round of $300 million (investors include BlackRock and Temasek) to further develop its methane pyrolysis technology, expand existing facilities and clear a “deep backlog” of to-be-developed hydrogen & ammonia projects.

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Ammonia energy funding & acquisitions

By on July 06, 2022
SK Innovation has led a successful $46 million capital funding round for New York-based Amogy. The new funds will go towards two ammonia-powered, heavy vehicle demonstration projects: an eighteen-wheel tractor trailer, and an ocean-going cargo ship. H2SITE has closed a successful €12.5 million Series A funding round led by Breakthrough Energy Ventures to expand manufacturing capacity in Spain, and Sweden-based organisation Alfa Laval will acquire RenCat’s patented ammonia reforming technology.

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Ammonia energy financing update: March 2022

By on March 29, 2022
This week we explore some recent funding announcements for ammonia energy:
  • New York-based Amogy receives backing from Amazon and the Empire State Development Fund.
  • Haldor Topsoe reaches an agreement with the European Investment Bank for a €45 million loan to support R&D initiatives.
  • Israel-based H2Pro closes a $75 million funding round to develop its proprietary water splitting technology.
  • Hy2gen closes a €200 million investment round for construction of its green e-fuel facilities, including two green ammonia projects in Norway and Canada.
  • and Australia-based Jupiter Ionics receives $2 million in government funding for development of its electrochemical synthesis technology.

Article

Singapore invests in key green ammonia projects

By on February 02, 2022
Singapore's sovereign wealth fund GIC has agreed to a strategic equity investment in InterContinental Energy, who are currently developing a number of green ammonia "Supergiants". GIC's announcement follows another significant green investment by Singapore, this time in Indonesia. $9 billion will fund a logistics hub in Jakarta and a number of renewable energy projects, with MoUs signed between the heads of state to cement a new focus on decarbonisation and alternative energies

Article

JERA targets 50% ammonia-coal co-firing by 2030

By on January 21, 2022
Japanese government funding via NEDO will support four critical ammonia energy projects, including JERA's new plan to demonstrate 50% ammonia-coal co-firing by 2030. Other projects include improved catalysts for ammonia production, low-temperature and low-pressure synthesis pathways, and developing 100% ammonia-fed boilers and gas turbines. In addition, a new cooperation agreement between ASEAN countries will see Japan support other members to adopt their ammonia energy solutions, particularly coal co-firing.

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Enova funding for three ammonia players: Yara, Horisont & Viridis

By on January 17, 2022

Enova - Norway's government-owned, clean energy investment enterprise - announced funding to support some key ammonia energy projects currently in progress:

1. New Funding guarantees a final investment decision for the pilot phase of electrifying Yara's Herøya (Porsgrunn) ammonia plant.

2. Horisont Energi's Barents Blue project will now participate in the Important Projects of Common European Interest (IPCEI) Hydrogen scheme.

3. And Viridis Bulk Carriers will receive a to-be-determined amount from to develop the first ammonia-powered cargo short sea bulk vessel in its future north European fleet.

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