ATHENS, Greece-- Announced today at Posidonia 2024, the American Bureau of Shipping (ABS) and the Liberian Registry are both granting approval in principle (AiP) to HD Hyundai Heavy Industries (HHI) and Capital Gas Ship Management (Capital Gas) for a very large ammonia carrier (VLAC) design. This innovative vessel design features the integration of Amogy’s carbon-free ammonia-to-electrical power system, marking a significant leap forward in sustainable maritime technology. Amogy, ABS, the Liberian Registry, HHI, and Capital Gas joined forces to design a 93K CBM ammonia carrier with Amogy’s technology providing ~1400 kW of auxiliary power equivalent to a diesel generator. Amogy’s ammonia-to-electrical power system splits, or “cracks,” liquid ammonia into its base elements of hydrogen and nitrogen, which then funnels the hydrogen into a fuel cell, generating high-performance power without carbon emissions. For these AiPs, ABS and the Liberian Registry have confirmed the feasibility of Amogy’s technology as per relevant regulatory guidelines for deployment onboard a very large ammonia carrier. Patrick Ryan, ABS Senior Vice President and Chief Technology Officer, said: “ABS is proud to use our expertise as the world’s leading classification society for gas carriers to support the development of next-generation vessels like this one. With today’s rapid pace of emerging technologies, Class support is critical right now. Safety in the maritime industry is paramount while working together on a smooth transition to clean energy.” Thomas Klenum, Executive Vice President for Innovation & Regulatory Affairs of the Liberian Registry, said: “The IMO GHG Strategy adopted last year by MEPC 80 set forth ambitious targets for international shipping to reach net-zero GHG emissions by 2050. To achieve this, we need forward-thinking stakeholders to collaborate on identifying innovative and sustainable solutions, and this is exactly what this project between Amogy, HHI, Capital Gas, ABS, and the Liberian Registry demonstrates by integrating the innovative Amogy system into HHI’s 93K VLAC design. This project greatly supports paving the way to net-zero GHG emissions, and we are proud to award the AiP.” Mr. Seung-Ho Jeon, Senior Executive Vice President and Chief Technical Officer of HD Hyundai Heavy Industries, said: "As international environmental regulations tighten and the trend towards high-value-added ships in the maritime sector continues, there is growing demand for vessel performance that guarantees efficiency and eco-friendliness. While ammonia is gaining attention as a carbon-free fuel, its strong toxicity requires utmost safety. Through this JDP, we have analyzed the safety of fuel cells on very large ammonia carrier, bringing us a significant step closer to achieving the IMO net-zero GHG emission strategy by 2050. We look forward to continuing our collaboration with Amogy, Capital Gas, ABS and the Liberian Registry to drive innovation and progress in the field of sustainable maritime technology.” Miltos Zisis, Managing Director, Capital Gas Ship Management, said: “We believe that ammonia will be crucial in advancing the transition towards an era of 'net zero' emissions. Our approach is forward-looking and highly receptive to innovative solutions, emphasizing sustainability." Seonghoon Woo, CEO at Amogy, said: “Receiving AiPs from ABS and the Liberian Registry for the integration of our innovative ammonia-to-power system on this ammonia carrier is a pivotal step toward the deployment of our technology. We look forward to further collaboration with ABS, the Liberian Registry, HHI, and Capital Gas as we seek to move this project forward and facilitate ammonia-powered solutions in the maritime industry.”

About ABS

ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimized performance and operational efficiency for marine and offshore assets.

About the Liberian Registry

The Liberian Registry has a long-established track record of combining the highest standards of safety for vessels and crews with the highest levels of responsive and innovative service to owners. Comprised of over 5,500 vessels aggregating 257 million gross tons, representing 16 percent of the world’s ocean-going fleet. Moreover, the Liberian Registry has a well-deserved reputation for supporting international legislation designed to maintain and improve the safety and effectiveness of the shipping industry and the protection of the marine environment. www.liscr.com

About HD Hyundai Heavy Industries

Since founded in 1972, HD Hyundai Heavy Industries has solidified its position as the global No.1 shipbuilder based on its world’s leading shipbuilding and eco-friendly engine manufacturing capabilities. HD Hyundai Heavy Industries is leading the market with its technology expertise built over the past 50 years, and is committed to realizing the sustainable future of the ocean by developing next-generation eco-friendly ships including ammonia carriers, liquid carbon dioxide carriers, hydrogen carriers, and more.

About CAPITAL GAS

Capital Gas Ship Management Corp. ("Capital Gas") is a ship management service provider, currently operating a fleet of 20 modern LNG Carriers, 4 pioneering liquid CO2 carriers and 2 dual fuel VLACs (Very Large Ammonia Carriers) with a total carrying capacity of approximately 4 million cubic meters. The fleet under management includes vessels of Nasdaq-listed Capital Product Partners L.P. www.capitalgas.gr

About Amogy

Amogy provides carbon-free energy solutions to decarbonize hard-to-abate sectors such as maritime, power generation, and heavy industry. Proven in real-world applications, its patented ammonia cracking technology is mature, scalable and a highly efficient method for splitting liquid ammonia, generating electrical power in combination with hydrogen fuel cells. Amogy is headquartered in Brooklyn, New York, with additional locations including Houston, Texas, Norway, and Singapore. Amogy is backed by investors including Amazon’s Climate Pledge Fund, Temasek, SK Innovation, Aramco Ventures, Mitsubishi Corporation and AP Ventures. For more information, follow Amogy on LinkedIn, X, Instagram, Threads, Facebook, and YouTube, or visit www.amogy.co.

ABS and Liberian Registry Greenlight Next-Gen Ammonia Carrier Design by HD Hyundai and Capital Gas Integrated With Amogy’s Ammonia-Powered Technology