Amogy bags $15M strategic investment from South Korean partner

U.S. ammonia-to-power solutions provider Amogy has raised a $15 million strategic investment from South Korean engineering, procurement, and construction (EPC) firm GS E&C to accelerate the deployment of ammonia-based, carbon-free distributed power solutions.

With the latest investment, Amogy has raised nearly $100 million over the past year, bringing the total raised since inception to $315 million, to advance ammonia-based power generation projects in key markets, including shipping.

Amogy and GS E&C are working on a commercial pilot project with the city of Pohang, South Korea. The project aims to deploy an ammonia-based distributed power generation system in 2026, with plans to scale up to 40 MW during the full commercial phase in 2028–2029.

As part of their partnership, Amogy contributes technology and agility, while GS E&C brings expertise in engineering, procurement, and construction across hydrocarbons, energy, infrastructure, and building/housing projects, as well as capabilities in data centers, smart city development, and beyond.

Starting with the commercial pilot project in Pohang, South Korea, the two companies plan to expand their collaboration into overseas distributed energy markets.

In addition to the pilot in Pohang, Amogy recently announced a partnership with Singapore’s public sector R&D agency, A*STAR, to explore the development and deployment of ammonia-based power, with a key focus on decarbonizing Singapore’s data center industry.

The company also announced its expansion in South Korea at the beginning of 2025 to support initiatives like these with strategic partners across the Asia-Pacific region.

“Amogy has been extremely fortunate to partner with investors that are global leaders in the markets and industries that are core to our mission – and that’s exactly what GS E&C is,” said Seonghoon Woo, Co-Founder and CEO at Amogy.

“This investment goes beyond a simple financial participation — it represents a strategic collaboration to build a carbon-free ammonia energy ecosystem together with Amogy,” added Jin-Hong Huh, Chief Data Officer, Head of GS E&C’s New Business Development, and Head of Real Estate Development.

“GS E&C aims to contribute to achieving carbon neutrality both in Korea and abroad through hydrogen and ammonia-based energy transition projects, and to realize our ESG vision of creating a sustainable society through carbon-free energy technologies.”