Amminex, a Lyngby, Denmark company developing ammonia storage and delivery technology for cleaner car fuel emissions, said it has raised EUR 7 million in a third round of capital.
The investment was led by Conduit Ventures, of London. Another investor is SEED Capital K/S of Copenhagen.
From the statement:
Amminex A/S is developing by SCR after treatment for diesel as well as lean burn gasoline engines. The funding proceeds will mainly be used to finance further testing on vehicles and to mature its prototypes for series production. The Amminex core technology makes it possible to chemically store ammonia in metal ammine complexes with the same capacity as pressurized liquid ammonia. Amminex provides a novel solid storage method that greatly enhances the safety of ammonia without sacrificing volumetric storage capacity, which makes it suitable for onboard installations where ammonia or hydrogen is required. The company is also developing applications of its core technology to supply hydrogen or ammonia based compounds to fuel cells. Amminex A/S was founded April 20th 2005 on the basis of five DTU (Technical University of Denmark) scientists’ work on storing ammonia in metal ammine complexes.