LOTTE Fine Chemical Co., Ltd. Collaborates with U.S. Amogy on Green Ammonia... Expanding to Hydrogen and Power Generation

[Financial News] LOTTE Fine Chemical Co., Ltd. has set out to expand its business scope beyond ammonia distribution into hydrogen production and power generation.
LOTTE Fine Chemical Co., Ltd. announced on the 10th that it has signed a Memorandum of Understanding (MOU) with Amogy, an American ammonia-based hydrogen production and power generation solution company, for cooperation in the ammonia-based clean energy business.
The agreement held the previous day was pursued to combine LOTTE Fine Chemical Co., Ltd.'s ammonia distribution infrastructure with Amogy's ammonia cracking and power generation technologies.
Previously, LOTTE Fine Chemical Co., Ltd. imported Green Ammonia in March and commercialized Green Ammonia for ship fuel bunkering in April. Amogy possesses technology to convert ammonia into high-purity hydrogen and a modular power generation system utilizing this technology. Amogy has demonstrated the application of this technology to drones, trucks, and ships, and is currently pursuing the commercialization of commercial power generation systems for data centers and other applications.
Through this agreement, the two companies plan to explore cooperation measures in three areas: the construction of green hydrogen charging stations, distributed green ammonia power generation, and green ammonia bunkering.
First, in the sector of green hydrogen refueling station construction, LOTTE Fine Chemical Co., Ltd. is reviewing a plan to supply green ammonia by utilizing overseas procurement networks and domestic infrastructure, and to produce and supply hydrogen on-site at the stations using Amogy's modular ammonia cracking system.
In the field of decentralized green ammonia power generation, LOTTE Fine Chemical Co., Ltd. is responsible for ammonia supply and storage, while Amogy provides fuel cell or internal combustion engine-based ammonia power generation modules to explore the establishment of power generation solutions for commercial facilities and local communities.
In the green ammonia bunkering sector, the companies are reviewing cooperation plans to supply ammonia fuel to ships equipped with ammonia-based power generation modules currently being developed by Amogy, based on LOTTE Fine Chemical Co., Ltd.'s ammonia terminal and ship bunkering capabilities located at the Port of Ulsan.
Both companies plan to proceed with business feasibility reviews and technical consultations for each area of cooperation, and to gradually specify the project scope and implementation schedule.
Seok-Min Hwang, Head of LOTTE Fine Chemical Co., Ltd.'s Ammonia Business Division, said, "Through cooperation with Amogy, we expect to expand our existing infrastructure into various application fields such as hydrogen production and power generation, and contribute to the revitalization of the domestic clean ammonia and hydrogen economy."
"In the Korean market, where the construction of clean ammonia and hydrogen infrastructure is gaining momentum, cooperation connecting ammonia supply chains and utilization technologies is crucial," said Woo Seong-hoon, CEO of Amogy. "We will strive to generate results in the hydrogen charging, distributed power generation, and shipping sectors by combining LOTTE Fine Chemical Co., Ltd.'s global supply chain and infrastructure with Amogy's ammonia hydrogen production and power generation technologies."

[email protected] Kim Mi-hee Reporter