Hy2gen subsidiary Hy2gen Norge and Amogy today have signed an MoU to drive decarbonization progress in the maritime sector
Joint development projects shall help secure and scale the use of ammonia as a fuel

Stavanger, Norway-- Hy2gen, the global developer, financier builder, owner and operator of renewable hydrogen and hydrogen-based e-fuels plants, and Amogy, the provider of ammonia power technology, today have signed an MoU to collaborate in the field of renewable ammonia. The agreement encompasses the pooling of resources to advance the use of renewable ammonia as a maritime fuel, participate in joint development projects and secure the safe usage of ammonia on board maritime vessels. Ammonia is gaining traction as a fuel for several reasons. First and foremost, it is a carbon-free option, contributing to efforts to reduce greenhouse gas emissions and combat climate change. Ammonia can be produced using renewable energy sources, making it a sustainable and environmentally friendly fuel. Additionally, ammonia has a high energy density, meaning it can store and transport a significant amount of energy efficiently. This makes it a practical choice for various applications, including power generation and transportation. The two partners, Amogy and Hy2gen, offer crucial insight in the ammonia-to-power value chain. Amogy with its powerpack technology that allows ammonia to be an efficient energy carrier, and Hy2gen, as a developer, financier, builder, owner and operator of renewable ammonia plants for deployment in the maritime industry. Ammonia-to-power solution as an important part for the decarbonization of shipping Amogy’s ammonia-to-power solution aims to decarbonize the hard-to-abate sectors, including shipping, power generation, and heavy-duty transportation. With Amogy’s scalable solution, tested in a drone, in a tractor and in a semi-truck, the maritime industry awaits a solution to introduce ammonia as an energy carrier on board vessels. The technology will soon be scaled to 1MW ready for use in a tugboat. These are important steps to demonstrate the readiness of the technology, preceding the commercialization of the ammonia-to-power solution for the global maritime market. Hy2gen Norge is the Norwegian subsidiary of Hy2gen AG, the global developer, builder and operator of renewable hydrogen and hydrogen-based e-fuels plants. Hy2gen is one of three partners in the Iverson eFuels project in Sauda working to secure renewable ammonia to the maritime fleet along the 2000-kilometer Norwegian coast. The strong infrastructure of harbors along the Northern Sea allows Hy2gen Norge to focus on the maritime sector as clients and as a means of transport to other markets mainly in Europe. Collaboration along entire value chain “Norway will play an important role in the production of renewable ammonia for shipping in the future. As a globally active company, it is particularly important to us at Hy2gen that solutions based on renewable hydrogen are produced in the respective countries that offer the best conditions for this. We are very pleased that Amogy will now be supporting us as a renowned partner in Norway and would very much welcome the expansion of this cooperation to other countries,” says Cyril-Dufau-Sansot, CEO of Hy2gen AG. “Hy2gen’s insight and projects are vital to bringing the ammonia value chain together and secure the supply of renewable ammonia. Our collaboration also aims to increase the awareness of ammonia’s role as an effective energy carrier due to its high energy density,” says Christian W. Berg, Managing Director, Amogy Norway. “We need collaboration along the entire value chain to speed up the energy transition from fossil to renewable fuels. Amogy represents a promising technology for the efficient utilization of ammonia as a fuel, and we are looking forward to continuing our work in paving the way for ammonia as a zero-emission fuel in the shipping industry,” says Hege Økland, Managing Director of Hy2gen Norge. “We are very excited for this partnership with Hy2gen, a global leader in renewable hydrogen and ammonia productions. This collaboration is timely and critical to enable renewable ammonia-driven decarbonization of shipping and other heavy industries, starting from Norway. We will continue to collaborate to bring the partnership to other countries together,” says Seonghoon Woo, CEO of Amogy.

About Hy2gen

Hy2gen AG, based in Wiesbaden, Germany, globally develops, finances, builds, owns and operates plants for the production of renewable fuels of non-biological origin (RFNBOs). The company specialises in the entire product range – from renewable hydrogen, commonly known as “green” hydrogen, to renewable ammonia and hydrogen-based e-fuels. The first plants will be built in France, Norway, Canada, Germany and the USA. Hy2gen’s goal is to become the market leader in the production of renewable hydrogen and its derivatives for climate-neutral mobility, agriculture, and industry. Founded in 2017, the company’s first mover advantage is underlined by a current project pipeline in planning and construction of 1,9 GW and a project pipeline of over 12 GW of electrolysis capacity in development. In 2019, Swiss commodity trader, Trafigura, and other private investors took a position in Hy2gen’s first round financing. In early 2022, Hy2gen closed a further €200 million from French technology and engineering firm, TechnipEnergies; Quebec pension fund, CDPQ; French sustainable investment manager, Mirova; and the €2 billion Hy24 Clean Hydrogen Infrastructure Fund backed by Air Liquide, TotalEnergies, VINCI Concessions, Plug Power, Chart Industries, Baker-Hughes, and Airbus, among others. This remains the largest green hydrogen-focused private capital raise to date.

About Amogy

Founded in 2020 by four MIT PhD alumni, Amogy aims to decarbonize hard-to-abate sectors, such as shipping, power generation, and heavy-duty transportation, with its ammonia-based, emission-free, high energy-density power solutions. To date, Amogy’s ammonia-to-power technology has been demonstrated with success in a drone, tractor, and semi-truck. The Amogy team is currently retrofitting a tugboat to be the world’s first ammonia-powered vessel. Amogy’s European headquarters is in Stavanger, Norway. The team in Stavanger has significant experience in the maritime industry and is expanding. The company’s investors include Amazon’s Climate Pledge Fund, AP Ventures, SK Innovation, Aramco Ventures and Mitsubishi Corporation. More info at: www.amogy.co Press contact Hy2gen Dederichs Reinecke & Partner hy2gen@dr-p.de + 49 40 20 91 98 278 Press contact Amogy Christian Berg Managing Director, Amogy Norway AS Christian.berg@amogy.co + 47 975 05 553

Hy2gen and Amogy Forge Strategic Partnership to Propel Ammonia-Powered Energy Solutions