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On September 9 local time, US ammonia energy technology company Amogy signed a memorandum of understanding (MOU) with South Korea's Lotte Fine Chemical, and the two sides officially announced the news on September 10, the two sides will jointly develop ammonia-to-hydrogen and ammonia-to-power projects in South Korea, combining Lotte Fine Chemical's strong green ammonia storage, transportation and supply chain with Amogy's ammonia cracking and power conversion technologies, and layout three major application scenarios.
Lotte Fine Chemical has the largest ammonia import, storage and distribution network in Asia; the company completed the world's first commercial environmentally friendly ammonia import in March this year, and launched the world's first environmentally friendly ammonia ship refueling business in April, with first-mover advantages in the clean ammonia supply chain. Amogy has proprietary ammonia cracking methodology that can efficiently convert ammonia into high-purity hydrogen, and modular ammonia power units can be applied in decarbonization scenarios such as fixed distributed power generation and ship power.
The cooperation outlines three key directions:
1. Hydrogen refueling station infrastructure: Lotte Fine Chemical supplies environmentally friendly ammonia through overseas procurement channels and South Korea's regional infrastructure; Amogy uses ammonia cracking methodology to convert environmentally friendly ammonia into high-purity hydrogen on-site at hydrogen refueling stations, which is immediately supplied to hydrogen fuel cell vehicles.
2. Distributed ammonia power generation projects: Develop distributed energy solutions to commercial buildings and community scenarios. Lotte Fine Chemical is responsible to environmentally friendly ammonia supply, storage and supporting logistics; Amogy provides modular ammonia power units, including two technical routes of fuel cells and internal incineration engines, to off-grid power supply and backup power.
3. Ship ammonia fuel refueling: Relying on Lotte Fine Chemical's Ulsan Port ammonia terminal and ship refueling capabilities, supply environmentally friendly ammonia marine fuel to ships equipped with Amogy's ammonia power systems, and expand decarbonization solutions in the shipping field.
Amogy's CEO stated that South Korea is accelerating the construction of clean ammonia and hydrogen energy infrastructure, and the cooperation between upstream ammonia supply and downstream conversion technologies is the key to accelerating manufacturing implementation. The head of Lotte Fine Chemical's ammonia division said that this cooperation will expand the existing ammonia infrastructure to the fields of hydrogen production and power generation, helping to activate South Korea's environmentally friendly ammonia and hydrogen energy economy.
This is only a memorandum of understanding, which is an intentional cooperation. The two sides will continue to assess the feasibility of the project, and specific investment amount, production scale and project commissioning schedule have not been disclosed yet.
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