RE: Breton Energy24 Mar 2025 13:23
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Saudi Aramco, through its venture capital arm Aramco Ventures, has established a strategic relationship with Amogy, a Brooklyn-based startup specializing in ammonia-to-power technologies. Aramco Ventures first invested in Amogy during a $46 million funding round in June 2022, which aimed to accelerate the commercialization of Amogy’s ammonia-to-power solutions for heavy-duty transportation.  
In January 2025, Aramco Ventures co-led an additional $56 million funding round for Amogy, alongside South Korean venture capital firm SV Investment. This investment brought Amogy’s total funding to over $270 million and supported the company’s efforts to further develop and commercialize its technology, particularly in the maritime shipping and stationary power generation sectors.  
These investments underscore Saudi Aramco’s interest in alternative fuels and innovative energy solutions, highlighting ammonia’s potential as a carbon-free energy carrier for various applications.