Amogy, a provider of cutting-edge ammonia-to-power solutions, has announced its expansion into South Korea with the opening of a new office in the Pangyo Techno Valley. This strategic move brings Amogy closer to its established investors and partners, including industry giants such as SK Innovation, Samsung Heavy Industries, HD Hyundai, Hanwha, SV Investment, and Korea Zinc.

The decision to establish a local presence in South Korea was driven by the country’s status as an early adopter of ammonia and hydrogen fuel technologies, coupled with robust national policies supporting the clean tech economy. In 2024, South Korea made history by hosting the world’s first auction for electricity generation using hydrogen and ammonia under the Clean Hydrogen Production Standard (CHPS). The country is also making strides in grid stability with the enactment of the Distributed Energy Act (DEA), which promotes distributed generation to meet the growing power demands.

South Korea, home to three of the world’s leading shipyards, is at the forefront of maritime innovation and hydrogen technology development. As the largest market for fuel cell solutions in terms of total power output deployed, and with a goal to commercialize ammonia-fueled power generation by 2030, South Korea presents a significant market for Amogy’s cutting-edge energy solutions.

Dr. Stone Zhang, a seasoned executive in the maritime and energy sectors, will lead Amogy’s new office in Pangyo as Managing Director in Asia. With over a decade of experience working across the maritime and energy value chains, Zhang holds a Ph.D. in Marine and Offshore Engineering from Harbin Engineering University and an Executive M.B.A. from Rice University.

Commenting on the expansion into the South Korean market, Zhang stated, “Our entry into the South Korean market comes at a pivotal moment. With transformative legislation like CHPS and DEA in place, Korea is poised to generate a significant portion of its electricity from hydrogen and ammonia by 2030 and beyond. Amogy is collaborating with industry leaders such as SK Innovation, HD Hyundai Infracore, Samsung Heavy Industries, and Hanwha to develop ammonia-fueled solutions for distributed power generation and maritime applications. The new office in Pangyo will facilitate closer collaborations with local industry players who share our commitment to decarbonization.”

In September 2024, Amogy successfully demonstrated its technology by sailing the world’s first carbon-free, ammonia-powered maritime vessel. With a recent investment of $56 million in venture financing, the company is on track to commercialize its solutions and achieve its mission of decarbonizing hard-to-abate sectors like global shipping and power generation.