Amogy upsizes its Series B for alt fuels production
Brooklyn-based alternative fuels producer Amogy added another $11 million to its Series B, capping the round at $150 million, the company announced this morning.
Why it matters: The company has drawn backing from some of the biggest names in heavy industry.
Details: Marunouchi Climate Tech Growth Fund, Mitsubishi Corporation, Mitsubishi Heavy Industries America and Synergy Marine participated in the round.
Meanwhile, SK Innovation led Amogy's initial all-equity round, which closed at $139 million in March.
- That B-1 round included Temasek, Korea Zinc, Aramco Ventures, AP Ventures, Mol Plus, Yanmar Ventures, Zeon Ventures and DCVC.
How it works: Amogy makes ammonia-based fuels for heavy-duty vehicles and ships.
- The company built an ammonia-powered tugboat that it plans to demonstrate in New York later this year.