IHI Invests in American Carbon-Free Ammonia Technology Developer and Plans to Collaborate with Japanese Investment Support Firm to Drive Carbon Neutrality Progress
IHI announced today that it has invested in Starfire Energy, Inc.. That American start-up enterprise has developed renewable energy-derived green ammonia production and cracking technology. IHI made this move to step up external collaboration and accelerate technology acquisitions in cultivating carbon solutions. IHI company has additionally decided to conclude an alliance with ANGEL NAVI Co., Ltd., which assists start-up companies, to streamline investment endeavors.
IHI is developing hydrogen and ammonia usage technologies and building related supply chains. It is also creating recycling technologies to harness carbon dioxide. As part of these efforts, it is focusing on technologies to produce large quantities of green hydrogen and ammonia at low costs and use them through combustion and decomposition. It also looks to efficiently synthesize hydrocarbons. They include methane from carbon dioxide and hydrogen. IHI will accelerate technology acquisitions by investing in and collaborating with advanced start-up enterprises in Europe, the United States, Japan and elsewhere.
Starfire Energy’s modular Rapid Ramp process produces green ammonia from air, water, and from renewables-derived electricity. That entity also originated Prometheus Fire, a cracking system for converting ammonia into hydrogen. IHI invested in Starfire Energy's Series B funding round to accelerate efforts to strengthen and diversify the ammonia value chain.
IHI will draw on its collaboration with ANGEL NAVI to identify start-up investment opportunities in Japan and around the world.
IHI will help materialize carbon neutrality by 2050 by providing diverse carbon solutions.
IHI Action Plan in the area of carbon solutions
Profiles
|
Starfire Energy, Inc. |
||
|
Address |
: |
5590 Havana Street, Denver, CO 80239, USA |
|
Website |
: |
|
|
Representative |
: |
Joe Beach, Ph.D., CEO and Chairman of the Board |
|
Company Profile |
: |
Founded in 2007 and headquartered in Denver, Colorado. Has recently focused on developing a patented technology to synthesize 100% green ammonia and hydrogen. |
|
|
|
|
|
ANGEL NAVI Co., Ltd. |
||
|
Address |
: |
9-7, Shibaura 1-chome, Minato-ku, Tokyo |
|
Website |
: |
|
|
Representative |
: |
Keisuke Fukada, Representative Director and CEO |
|
Company Profile |
: |
Engages in equity investment crowdfunding, incubation, fundraising and M&A brokerage, and corporate venture capital management for leading major companies, focusing on startup fundraising and growth support. |