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The TQP is a crucial step in completing LR's Technology Qualification process, which consists of three stages: Verification, Validation, and Performance Review. This process assesses the components of novel technologies in terms of their technology maturity and associated risks. The development and approval of the TQP is part of the Validation phase, and receiving this feasibility statement confirms that Amogy's concept is capable of being developed into a viable technology.
Amogy recently completed the Technology Verification phase with LR and will now begin executing the component testing outlined in the TQP upon receipt of this Statement of Feasibility.
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CEO Seonghoon Woo expressed his excitement about receiving this milestone, stating, "Receiving this Statement of Feasibility from Lloyd's Register is a major milestone in affirming the safety and viability of our ammonia-to-electrical power system. As we advance through LR's rigorous Technology Qualification process, we remain steadfast in our commitment to provide innovative, sustainable solutions that reshape the future of clean energy for maritime shipping."
LR's VP Commercial for Americas, Chris Pfisterer, also commented on the importance of future fuels for reaching net-zero emission targets set by the International Maritime Organization (IMO). He stated that while there may be logistical complexities with new fuels compared to existing ones, Amogy's pioneering technology could potentially overcome these challenges. He also expressed excitement about continuing to work with Amogy through the next stages of LR's Technology Qualification process.
Amogy has developed an innovative ammonia-to-electrical power system that splits liquid ammonia into its base elements of hydrogen and nitrogen, which are then used to generate high-performance power at five times the energy density of lithium batteries. This technology offers a sustainable, clean energy solution tailored for industries such as maritime shipping and power generation.
LR and Amogy have been working together for several years, with LR previously awarding the system approval in principle in 2022. To learn more about Amogy and its clean energy technology, visit their website at www.amogy.co.
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