Latest news with #ammonia
Yahoo
6 days ago
- Business
- Yahoo
Amogy secures $23m to boost global growth and advance ammonia-to-power solutions
Amogy, an ammonia-to-power solutions provider, has secured an additional $23m in venture capital in a latest equity financing round. The additional funding supplements a $56m in venture funding initially reported in January 2025. The funding round, co-led by Korea Development Bank and KDB Silicon Valley, saw participation from new investors BonAngels Venture Partners, Pathway Investment, and JB Investment. The financial boost has propelled Amogy's total funding to nearly $300m since its inception, marking a significant increase in the company's valuation. This funding is set to accelerate the company's growth into the Asian market and further develop its maritime and stationary power generation systems. Following the successful demonstration of its first carbon-free, ammonia-powered maritime vessel in September 2024, Amogy has been forging partnerships with maritime industry leaders. These collaborations aim to deploy the company's technology in both newbuild and retrofit vessel applications, contributing to the international effort to decarbonise global shipping. Amogy co-founder and CEO Seonghoon Woo said: 'We've long recognised the strong demand for ammonia-to-power technology in the shipping industry, but we also see much broader opportunities to use ammonia as a clean fuel – especially with the growing demand for the 'clean power' globally. We're ready to meet that market demand. 'Support for a hydrogen-based economy is especially strong in Asia, and as the most cost-effective hydrogen carrier, ammonia is quickly evolving into the leading zero-carbon fuel solution for these markets.' For nations such as South Korea, Japan, and Singapore, which lack abundant fossil fuel resources, ammonia presents a viable and economical option for transporting and storing zero-carbon energy, according to the company. South Korea's Clean Hydrogen Portfolio Standard and the Distributed Energy Act are catalysing a shift towards a new energy economy, with hydrogen and ammonia expected to contribute to 2% of the country's electricity by 2030 and 7% by 2035. Amogy's expansion into the Asian market, particularly South Korea, has seen rapid advancements. The company's technology is now being applied in stationary power generation, including a clean, ammonia-fuelled distributed power generation system in Pohang, South Korea, with plans for commercial operations by 2028-2029. "Amogy secures $23m to boost global growth and advance ammonia-to-power solutions" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
7 days ago
- Business
- Yahoo
Yara says it will invest in US ammonia projects
(Reuters) -Yara, one of the world's largest producers of fertilisers, said on Friday it planned to renew its ammonia portfolio by investing in projects in the U.S., as part of a push to improve shareholder returns. "With the combination of cost reduction, portfolio optimization and a tightening nitrogen markets, Yara's financial position is set to strengthen with increased free cash flow and sustained profitability," CEO Svein Tore Holsether said in a statement. "At the same time, we are ahead of plan in our cost and (capital expenditure) reduction program," Holsether added. The Norwegian group embarked in 2024 on a $300 million cost and capex-cutting plan, which it said was so far ahead of schedule. "So far, it suggests a Q4 2025 run rate of $2.35 billion excluding currency effects, which would represent $180 million in annual fixed cost savings net of inflation," Yara said. It reported adjusted earnings before interest, taxes, depreciation and amortization of $652 billion for the April-June period, below analysts' expectations that expected it to reach $668 billion, according to a company-provided consensus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
7 days ago
- Business
- Reuters
Yara says it will invest in US ammonia projects
July 18 (Reuters) - Yara, ( opens new tab one of the world's largest producers of fertilisers, said on Friday it planned to renew its ammonia portfolio by investing in projects in the U.S., as part of a push to improve shareholder returns. "With the combination of cost reduction, portfolio optimization and a tightening nitrogen markets, Yara's financial position is set to strengthen with increased free cash flow and sustained profitability," CEO Svein Tore Holsether said in a statement. "At the same time, we are ahead of plan in our cost and (capital expenditure) reduction program," Holsether added. The Norwegian group embarked in 2024 on a $300 million cost and capex-cutting plan, which it said was so far ahead of schedule. "So far, it suggests a Q4 2025 run rate of $2.35 billion excluding currency effects, which would represent $180 million in annual fixed cost savings net of inflation," Yara said. It reported adjusted earnings before interest, taxes, depreciation and amortization of $652 billion for the April-June period, below analysts' expectations that expected it to reach $668 billion, according to a company-provided consensus.
Yahoo
7 days ago
- Business
- Yahoo
CF Industries' Q2 2025 Earnings: What to Expect
Valued at a market cap of $15.7 billion, CF Industries Holdings, Inc. (CF) is a leading global producer of hydrogen and nitrogen products, primarily ammonia, granular urea, UAN, and ammonium nitrate, used as fertilizer, in emissions control, and various industrial applications. Headquartered in Northbrook, Illinois, and founded in 1946, CF operates nine manufacturing complexes across the U.S., Canada, and the U.K., and owns the world's largest ammonia production network CF is all geared to announce its Q2 earnings for 2025 after the market closes on Wednesday, Aug. 6. Ahead of this event, analysts expect this agricultural inputs company to report a profit of $2.24 per share, down 2.6% from $2.30 per share in the year-ago quarter. The company has exceeded Wall Street's earnings estimates in each of the last four quarters. More News from Barchart Insider Trading Alert: Here's Who Bought Nvidia and AMD Stock Before the U.S. Chip Deal with China Dear Tesla Stock Fans, Mark Your Calendars for July 23 As QuantumScape Hits New 2025 Highs, Should You Buy, Sell, or Hold QS Stock? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For fiscal 2025, analysts expect CF to report a profit of $6.83 per share, up 1.3% from $6.74 in fiscal 2024. Shares of CF have climbed 26% over the past year, significantly outpacing the S&P 500 Index's ($SPX) 12.7% gain and the Materials Select Sector SPDR Fund's (XLB) 5.8% fall over the same time period. CF reported strong Q1 results on May 7, and its shares rose marginally in the following trading session. Revenue climbed 13.1% year-over-year to $1.7 billion, beating consensus estimates by 9.2%. Net income per share surged 79.6% to $1.85, exceeding forecasts by 25.9%, thanks to a substantial 660 basis-point expansion in gross profit margin. Wall Street analysts are skeptical about CF's stock, with a "Hold" rating overall. Among 16 analysts covering the stock, three recommend "Strong Buy," 12 indicate 'Hold,' and one suggests a 'Strong Sell' rating. While CF currently trades above its mean price target for CF of $88.67, its Street-high target of $105 indicates a 14.2% potential upside from the current levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Zawya
7 days ago
- Business
- Zawya
KBR wins Feed contract for ammonia plant in Iraq
Global engineering company KBR has announced that it has secured a front-end engineering design (FEED) contract from KAR Electrical Power Production Trading (KEPPT) for an ammonia and urea production plant located in Iraqi city of Basra. On completion, the ammonia plant will boast a 2,300 MT per day production capacity and the urea facility a 3,850 MT per day capacity. As per the contract, KBR will be executing the project using its proprietary ammonia technology, which has been mainly designed to enable high efficiency, low emissions and operational reliability. On the contract win, Jay Ibrahim, the President of KBR Sustainable Technology Solution, said with a 38,000-strong workforce, the company has been involved in the licensing, design, engineering and construction of more than 260 ammonia plants worldwide. "We are honoured to support this pivotal project, which monetises gas feedstock to boost the agricultural industry in Iraq," he stated. KBR currently operates in over 29 countries, serving customers in more than 80 countries. Through this project, Iraqi government aims to generate employment and help reduce the nation's dependency on fertilizer imports while repositioning the country as a global ammonia producer. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. ( BAGHDAD
