London-based Navigator Holdings Ltd. and Attis Clean Energy announced an investment in clean ammonia developer Ten08 Energy LLC, which is developing a hybrid blue and green ammonia production export facility on the US Gulf Coast.
The project Ten08 is developing has the goal to produce the most competitively priced ammonia molecule. The first phase of the project will produce 1.4 million mt/y of low-carbon ammonia molecules, with operations expected to commence in late 2029, according to Navigator Holdings. Navigator and Ten08 intend to provide transport services to Ten08’s clients in Europe and Asia with ammonia-fueled vessels.
Navigator has committed $2.5 million, complementing the development committed by lead investor Attis, which made an initial investment in May of this year. In return for its investment, Navigator has the option to make a larger investment of up to $100 million at the time of the project Final Investment Decision (FID).
Navigator Holdings in October 2023 announced an investment with Yara Growth Ventures AS in Azane Fuel Solutions AS, an ammonia bunkering startup that plans to commence construction of its first bunkering unit in Norway this year (GM Oct. 27, 2023).