Amogy Raises $15M Strategic Investment from GS Engineering & Construction, to Accelerate the Deployment of Ammonia-Based, Carbon-Free Distributed Power Solutions
Amogy, a provider of mature, scalable, and highly efficient ammonia-to-power solutions, announced a $15 million strategic investment by GS Engineering and Construction (GS E&C), a leading South Korean engineering, procurement, and construction (EPC) firm. A consortium of GS companies participated in the funding, including GS E&C, and affiliated venture investors XPLOR, and GS Futures.
With this investment, Amogy has raised nearly $100 million over the past year, bringing the total raised since inception to $315 million, to execute on the deployment of ammonia-based power generation projects in key markets.
This investment strengthens the existing partnership between Amogy and GS E&C to advance ammonia-based, carbon-free distributed energy systems. The two companies are already working together on initiatives, including a commercial pilot project with the city of Pohang, South Korea. The project aims to deploy an ammonia-based distributed power generation system in 2026, with plans to scale up to 40 MW during the full commercial phase in 2028–2029.
“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,” said Seonghoon Woo, co-founder and CEO at Amogy.
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While Amogy brings breakthrough technology and agility, GS E&C contributes not only deep expertise in engineering, procurement, and construction across hydrocarbons, energy, infrastructure, and building/housing projects, but also strong capabilities in data centers, smart city development, and beyond. As a comprehensive construction and technology company with a strong global presence and robust business development capabilities, GS E&C is uniquely positioned to accelerate the commercialization and large-scale deployment of ammonia-to-power solutions.
Starting with the commercial pilot project in Pohang, South Korea, the two companies plan to expand their collaboration into overseas distributed energy markets, combining innovation with execution excellence to drive the transition toward carbon-free distributed power worldwide.
Amogy continues to build on the momentum it has gained making clean power generation possible, both off- and on-grid, with its innovative ammonia-to-power solutions. In addition to the pilot in Pohang, Amogy most recently announced a partnership with Singapore’s lead public sector R&D agency, A*STAR, to explore development and deployment of ammonia-based power, with a key focus on decarbonizing Singapore’s data center industry. Amogy announced its expansion in South Korea at the beginning of 2025 to support initiatives like these with strategic partners across the Asia-Pacific region.
“This investment goes beyond a simple financial participation — it represents a strategic collaboration to build a carbon-free ammonia energy ecosystem together with Amogy,” said Jin-Hong Huh, Chief Data Officer, Head of GS E&C’s New Business Development, and Head of Real Estate Development. “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.”
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