What is Amogy?
Founded in 2020 by a team of MIT PhD alumni, Amogy is positioned at the intersection of clean energy and industrial logistics. The company specializes in high energy-density power systems that utilize ammonia as a carbon-free fuel source. By addressing the limitations of current battery and hydrogen storage technologies, Amogy provides a viable pathway for the decarbonization of maritime, rail, and heavy-duty trucking industries. Its market position is bolstered by a robust portfolio of strategic partnerships with global energy and industrial leaders, ensuring that its technology is integrated into the core of the global supply chain.
How much funding has Amogy raised?
Amogy has raised a total of $264M across 4 funding rounds:
Other Financing Round
$46M
Series B
$139M
Other Financing Round
$56M
Debt
$23M
Other Financing Round (2022): $46M with participation from Climate Pledge Fund, AP Ventures, Newlab, Saudi Aramco Energy Ventures, and SK Innovation
Series B (2023): $139M led by Korea Zinc, Temasek, ARaMCo Venture Management, and SK Innovation
Other Financing Round (2025): $56M supported by BHP Ventures, Quantum Ventures Korea, Samsung Heavy Industries, AFW Partners, Sv Investment, Hanwha Investment & Securities Co., Ltd, and Saudi Aramco Energy Ventures
Debt (2025): $23M featuring BonAngels, Korea Development Bank, Citizen Pathway Investment, and JB Atlantic Investment Holding
Key Investors in Amogy
Saudi Aramco Energy Ventures
The corporate venturing program of Aramco, focusing on global investments in start-up and high-growth companies with technologies of strategic importance to the energy and chemicals sector.
AP Ventures
A London-based venture capital firm specializing in high-growth technology companies within the hydrogen value chain and related decarbonization sectors.
SK Innovation
A prominent South Korean petroleum refining company that provides strategic industrial backing to energy-focused technology innovators.
What's next for Amogy?
With the infusion of $23M, Amogy is poised to transition from pilot-scale demonstrations to full-scale commercial deployment. The company's strategic roadmap focuses on scaling its ammonia-to-power conversion modules to meet the rigorous demands of global shipping and heavy industry. By leveraging its recent capital injection, Amogy intends to expand its manufacturing capabilities and deepen its integration with existing energy infrastructure, effectively positioning itself as a critical player in the global transition toward sustainable, emission-free transportation.
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