Ammonia bunkering group gets $5 mn boost

Azane, a joint venture between Norwegian firms Econnect Energy and Amon Maritime, was founded in Norway in 2020 as to develop proprietary technology and services for ammonia fuel handling, to facilitate the transition to green fuels for shipping.

Azane now intends to build the world’s first ammonia bunkering network. The company is a commercial partner of Yara Clean Ammonia, which expects to provide clean ammonia to be stored in Azane’s bunkering units once operational, and will pre-order 15 units from Azane.

Yara and Navigator Holdings led an investment round of €5.4M (US$5.7M) towards the construction of the first of the bunkering units. The cash injection will allow Azane to expand its bunkering service internationally and eventually broaden its offerings in ammonia fuel-handling technology.

There is no ammonia bunkering service on the market as yet, but the parties want to be first movers, and plan to commence bunkering operations in Scandinavia in 2025.

Eventually, the parties believe the market for ammonia-powered ships is estimated to equal the entire deepsea shipping fleet of 100,000 vessels worldwide, which over time is expected to transition to zero-carbon fuels.

This month, an Exmar and Seapeak JV ordered two 46,000-m3, ammonia dual-fuel gas carriers which will be among the first ships capable of operating on zero-carbon fuel when delivered in 2026.

Elsewhere, there are efforts to develop an ammonia value chain, with major partners including ABS, AP Moller-Maersk and Sumitomo Corp working towards developing a green ammonia bunkering network in the United States.