Amogy, a sustainable startup based in New York, has raised an additional $23 million in funding to accelerate its expansion into the Asian market with its innovative carbon-free energy system that utilizes ammonia as a clean fuel. With the latest investment co-led by Korea Development Bank (KDB) and KDB Silicon Valley, Amogy's total funding now stands at $80 million. The company's technology involves converting ammonia into hydrogen and nitrogen to produce carbon-free power, particularly for maritime vessel and stationary power generation applications. Amogy recently launched the world's first ammonia-powered maritime vessel to support global decarbonization efforts in the shipping industry. The startup is focusing on Asian markets like South Korea, Japan, and Singapore, where there is a growing interest in ammonia as a cost-effective hydrogen carrier and zero-carbon energy source. Amogy's CEO highlighted the strong support for a hydrogen-based economy in Asia and the potential for ammonia to become a leading zero-carbon fuel solution in the region. The company has also partnered with the South Korean city of Pohang to deploy a clean ammonia-fueled distributed power system with a capacity of up to 40 megawatts, slated for commercial operations in 2028-2029. Amogy, which is headquartered in Brooklyn, New York, and has additional locations in Texas, South Korea, Norway, and Singapore, is poised to further advance its innovative technology and presence in the sustainable energy sector.