Starfire Energy announces closing of major funding round to produce carbon free ammonia and hydrogen solutions.
Starfire Energy, a developer of modular chemical plants for the production of carbon-free ammonia and carbon-free hydrogen, today announced the close of a major funding round. The investment round was led by AP Ventures, a significant investor in breakthrough hydrogen technologies, and included New Energy Technologies, Chevron Technology Ventures, Osaka Gas USA, and Mitsubishi Heavy Industries.
Proceeds will be used to advance the development of commercial scale applications to decarbonize ammonia production and unlock its potential as a zero-carbon energy carrier.
Ammonia is a promising energy carrier with an energy density comparable to fossil fuels and significantly higher than Li-ion batteries, compressed, or liquid hydrogen. It can be inexpensively and easily stored and transported, leveraging established infrastructure and shipping networks, and is regulated by well-developed codes and standards. Ammonia can be used directly as a fuel or it can be ‘cracked’, and its hydrogen harvested to provide a stable and efficient means of hydrogen storage and transportation.
Conventional ammonia production has a significant carbon footprint. Traditionally made from natural gas, the production of ammonia emits two tonnes of carbon dioxide for every one tonne of ammonia produced. Starfire Energy leverages a patented catalysis technology that allows for the synthesis and cracking of carbon-free ammonia and hydrogen-leveraging renewable energy sources.
Starfire Energyto produce carbon free ammonia and hydrogen solutions
Starfire Energy’s ‘Rapid Ramp NH3’ ammonia synthesis technology produces zero carbon ammonia using only renewable energy, air, and water as inputs. The modular solution is sized to connect directly with renewable energy production, providing a scalable, distributed source of zero carbon ammonia. The company has also developed their Prometheus Carbon-free Fire, a system to crack ammonia back into hydrogen providing an efficient means of green hydrogen storage and transportation.
Starfire’s plants will provide carbon-free fuel to power utility gas turbines, large-scale ships, process heat for industries like steel and cement and fuel cell vehicles. The modular plants are mass-produced and assembled onsite for maximum reliability and quality along with low and repeatable costs.
John LoPorto, Chief Executive Officer of Starfire Energy:
We are very excited to be partnering with such notable global partners as we continue to scale up our systems and operations
Andrew Hinkly, Managing Partner at AP Ventures:
We are excited to be leading this pivotal round for Starfire Energy
“As an established investor in the hydrogen industry, we understand the critical role green ammonia will play in decarbonizing chemical and industry value chains. Starfire’s modular synthesis and cracking technology is uniquely positioned, and we look forward to supporting the business in its development and commercialisation. We are also pleased to collaborate with Starfire on system deployments in South Africa, where there is a promising emerging market for innovative zero carbon technologies,” said Mr. Hinkly.
Greg Stace, Director of Technology at New Energy Technologies:
NET sees Starfire Energy as the most advanced green ammonia production candidate in the world.
“Our role is to unlock the value chain by accelerating green ammonia production projects, and Starfire is key to that. As a key commercialization partner we’re excited to take Starfire’s innovative technology out of the lab and get it into projects and to scale as quickly as possible. This is important technology for the world because it will help us reach net zero faster. We look forward to seeing Starfire as a core critical part of the green ammonia production sector right around the world, as green fuels become central in the new energy landscape”
Barbara Burger, Vice President, Innovation and President of Technology Ventures at Chevron:
Our investment in Starfire Energy gives us visibility into green hydrogen’s potential to improve the way ammonia is produced, distributed, and consumed.
“This is the first investment from our new $300 million Future Energy Fund II, which will focus on industrial decarbonization, emerging mobility, energy decentralization, and the growing circular carbon economy.”
Ricky Sakai, Vice President of new business development at Mitsubishi Heavy Industries America:
MHI views clean ammonia as an important new energy source for fuel use and hydrogen carriers and we are committed to expanding the hydrogen and ammonia value chain from production to utilization by developing technologies such as the hydrogen and ammonia gas turbine
“We are also eager to partner innovative technology and solution providers and have confidence in Starfire Energy’s technology to create distributed ammonia production solutions that help industries, and our customers achieve decarbonization goals.”
Sei Tamada, Senior Vice President at OGUSA:
Osaka Gas USA has an ongoing initiative to identify and develop new technologies that are key to decarbonization and believes that green ammonia is a promising option.
“We see how Starfire’s technology would accelerate efficient production of Green Ammonia to support the realization of carbon neutrality. Through collaboration with Starfire Energy, we continue to advance our commitment to decarbonization”
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Starfire Energy announces closing of major funding round to produce carbon free ammonia and hydrogen solutions, 8 April 2021
