Amogy Raises $200 Million to Convert Ammonia into Electricity
The Export-Import Bank of Korea led a $200 million Series C funding round for Amogy, including a $20 million direct investment, to expand manufacturing.
The Export-Import Bank of Korea led a $200 million Series C funding round for Amogy, including a $20 million direct investment, according to Dealroom News citing Yonhap Infomax.
The bank stated that this is its second direct venture capital investment deal since amending its mandate in June 2026, reflecting a shift in the role of Korean development banks toward funding clean technologies.
Amogy develops units that convert ammonia into electricity, and the company says the proceeds will be used to expand the manufacturing of these units and accelerate their transition to the market.
The company's total funding stands at $509 million according to Dealroom, making the new round one of the largest funding rounds in the clean energy sector this year.
What do these terms mean?
Series C Round: A late-stage funding round typically used to expand manufacturing and commercial scale before an initial public offering or sale of the company.
Ammonia: A chemical compound that can be used as an energy carrier or fuel, and can be converted into electricity via specialized units.
Direct Investment: Injecting capital into a company in exchange for an equity stake, rather than buying its shares on the stock exchange or lending to it.
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