Amogy announced that it has raised a new $15 million strategic investment from GS Engineering and Construction, deepening a partnership aimed at accelerating the global deployment of ammonia-based, carbon-free distributed power systems. The funding round included participation from multiple GS affiliates, among them GS E&C, XPLOR, and GS Futures.
The new capital brings Amogy’s total fundraising over the past year to nearly $100 million, increasing its cumulative capital raised since inception to $315 million. The company plans to use the investment to support the rollout of ammonia-to-power generation projects in priority markets and to advance its commercial pilot initiatives further.
The partnership between Amogy and GS E&C has already produced active development programs, including a commercial pilot project with the city of Pohang in South Korea. That project aims to deploy an ammonia-based distributed power generation system in 2026, with a planned scale-up to 40 MW during full commercialization between 2028 and 2029. Amogy’s proprietary ammonia-cracking technology provides the foundation for these systems, which are designed to deliver scalable, high-efficiency, carbon-free power.
GS E&C’s global engineering and construction footprint brings significant execution capability to the partnership. The firm has extensive experience across the hydrocarbons, energy, infrastructure, and building sectors, as well as growing activity in smart cities, data centers, and emerging technology verticals. Amogy views GS E&C as a critical partner in helping to commercialize and deploy ammonia-to-power systems at scale.
Following the Pohang project, the companies expect to expand their collaboration into overseas distributed energy markets. Their joint efforts aim to promote the broader adoption of ammonia-based systems as governments and industries accelerate the transition to carbon-free power generation.
Amogy continues to expand its presence in key Asia-Pacific markets, with a notable growth in South Korea earlier this year, supporting regional initiatives. The company recently established a partnership with Singapore’s public sector R&D agency, A*STAR, focused on ammonia-based power applications for decarbonizing the data center industry.
GS E&C has been increasing its activity in next-generation energy technologies, including hydrogen, ammonia, and renewable power, as part of its long-term plans to support carbon neutrality and sustainable growth. Amogy, which provides ammonia-to-hydrogen systems for hard-to-abate sectors such as power generation, maritime shipping, and heavy industry, expects the expanded collaboration to accelerate commercial adoption of its zero-carbon power solutions.
KEY QUOTES:
“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.”
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. 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.”
Jin-Hong Huh, Chief Data Officer, Head of GS E&C’s New Business Development, and Head of Real Estate Development
