Handysize gas carrier owner and operator Navigator Holding is investing in clean ammonia developer Ten08 focused on an industrial scale, hybrid blue-and-green ammonia production facility on the Gulf coast of Texas.
Ten08 aims to produce ultra-low carbon ammonia to cover the needs of power, shipping, fertilizer, and chemicals industries. The first phase expected to kickstart in late 2029 or early 2030 should deliver about 1.4m metric tonnes per year.
Navigator stated that it intends to facilitate transportation of the fuel to Ten08’s customers in Europe and Asia via ammonia-powered gas carriers, adding that the low price point and scalability of blue ammonia make it an appealing fuel for the shipping sector to cut emissions as pressure from the IMO and EU regulations grows.
The New York-listed company has committed $2.5m to the project complementing lead investor Attis Clean Energy to fund development until the final investment decision, after which Navigator will have an option to invest up to $100m towards construction of the terminal and export infrastructure, with potential further investments in subsequent expansions.
Navigator, which has the world’s largest fleet of handysize liquefied gas carriers consisting of more than 50 vessels, has been active in several ammonia-related fronts from the development of ammonia-fuelled ships to ship-to-ship transfers as well as backing ammonia startups such as Azane Fuel Solutions in which invested last year.
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