SK Innovation will invest an additional $50 million in US ammonia fuel cell companies
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
폴리
hoondork1977@alphabiz.co.kr | 2023-03-24 01:43:32
[Alpha Biz=(Chicago) Reporter Paul Lee] SK Innovation has invested an additional $ 50 million (about 65.4 billion won) in Amogy, a US ammonia-based hydrogen fuel cell company.
SK Innovation announced on the 23rd that it has participated in the 'Series B' investment of $ 139 million recently recruited by Amogy.
Startup investment usually consists of Series A that supports product development, Series B that starts business development in earnest, and Series C that expands business.
The investment was led by Singapore's sovereign wealth fund Temasek, Aramco Ventures, an investor in Saudi Arabia's Aramco, British hydrogen industry investor AP Ventures, Japan's MOL investor MOL Plus and Korea's Koryo Zinc.
Established in November 2020, Amogy is attracting attention as a technology that generates power without carbon emissions by injecting ammonia, a compound of hydrogen and nitrogen, into fuel cell fuel.
[ⓒ AlphaBIZ. 무단전재-재배포 금지]