Amogy and GreenHarvest Target First Ammonia-to-Power Deployment in Taiwan to Accelerate Industrial Decarbonization
Under the partnership, Amogy will provide the ammonia-to-power system while GreenHarvest will lead local integration as the power generation and distribution partner. The pilot system is scheduled for installation between late 2026 and early 2027 at a selected large industrial electricity consumer facility in Taiwan, with the potential to scale across the island's high-tech and manufacturing sectors.
'We are proud to bring our ammonia-powered technology to Taiwan with a forward-looking partner like GreenHarvest,' said Seonghoon Woo, CEO at Amogy. 'This project not only represents the first deployment of our technology in Taiwan, but also a critical step toward decarbonizing industrial energy use in one of the world's most important digital infrastructure economies.'
Amogy's system utilizes advanced catalyst materials to convert ammonia into hydrogen on-site. The hydrogen is then funneled into a hydrogen engine, generating high performance power with zero carbon emissions. The system is modular, efficient, and uniquely suited to hard-to-abate industrial operations that demand both reliability and scalability.
This project with GreenHarvest builds on Amogy's growing footprint in Asia, following the company's expansion into South Korea earlier this year to support regional commercialization and collaboration.
As Taiwan seeks to meet ambitious decarbonization goals under its Nationally Determined Contributions (NDCs), the partnership offers an innovative pathway for reducing Scope 1 and Scope 2 emissions in eco-conscious manufacturing sectors. The collaboration also aligns with Taiwan's developing carbon trading framework, providing industrial electricity users with a future-proof energy solution that can reduce operational carbon footprints while supporting compliance with evolving regulatory policies.
KH Chen, Chairman of GreenHarvest, commented: 'GreenHarvest has long been committed to rooftop solar development, providing industrial electricity users with a reliable and user-friendly source of green power. At the same time, we are actively deploying next-generation green electricity technologies. Through our 2024 collaboration with H2U in Australia on a green hydrogen project and this deployment of Amogy's ammonia-to-power energy solution at customer sites, it further reinforces our confidence and momentum in ammonia-based energy applications.'
The project builds on GreenHarvest's extensive renewable energy experience, including large-scale rooftop solar installations and its international green hydrogen ventures. By combining GreenHarvest's market leadership in Taiwan's energy transition with Amogy's cutting-edge technology, the partnership opens a new chapter in Asia's clean industrial power landscape.
About Amogy
Amogy provides carbon-free energy solutions to decarbonize hard-to-abate sectors like maritime shipping, power generation, and heavy industry. Proven in real-world applications, its patented ammonia cracking technology offers a mature, scalable, and highly efficient method for splitting ammonia into hydrogen and nitrogen. The resulting hydrogen is directed into an integrated fuel cell or hydrogen engine, generating high-performance power with zero carbon emissions.
Amogy is headquartered in Brooklyn, New York, with additional locations including Texas, South Korea, Norway, and Singapore. Amogy is backed by investors including Amazon's Climate Pledge Fund, SK Innovation, Aramco Ventures, Mitsubishi Corporation, Samsung Heavy Industries, BHP Ventures, and AP Ventures. For more information, follow Amogy on LinkedIn, X, Instagram, Threads, Facebook, and YouTube, or visit www.amogy.co.
About GreenHarvest
GreenHarvest has been a key player in Taiwan's renewable energy sector for over a decade. Its operations include renewable power generation and retailing, energy information services, solar operation and maintenance(O&M), and community energy management system. The core mission, "Sustainability", focuses on eco-friendly renewable energy, mainly through rooftop PV systems. We are dedicated to environmental friendliness in every aspect, among society communication, developing, design, construction, O&M during energy transition. It provides RE100 and net-zero total solution by diversified renewable energy, power generation and loading prediction, energy storage system, hydrogen application and virtual power plant(VPP) technology.
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Boston Beer did see tariffs negatively affect its gross margin toward the end of the second quarter, but it benefited from improved brewery efficiencies. For the second quarter, the company reported profits of $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." The Boston Beer Company (SAM) continues to feel the effects of President Trump's tariffs, but a strong quarter of sales and profit is helping the Samuel Adams brewer absorb some of those cost increases. Boston Beer expects tariffs to add about $15 million to $20 million in costs for the full year. Previously, it modeled tariff costs of $20 million to $30 million. 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Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30. "US tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," CFO Lee Chang-sil said during a conference call. Read more here. Japan, US differ on how trade-deal profits will be split Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear. The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US. This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side." Bloomberg News reports: Read more here. Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear. The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US. This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side." Bloomberg News reports: Read more here. US business activity rises; tariffs fuel inflation concerns US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports. Reuters reports: Read more here. US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports. Reuters reports: Read more here. It sounds like Trump now has a new minimum tariff rate: 15% President Trump set a new rhetorical floor for tariffs on Wednesday night in comments in a shift that raises the president's baseline rate from 10%. Yahoo Finance's Ben Werschkul writes: Read more here. 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The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%. In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported. "Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves." Read more about Keurig earnings here. Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year. "Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid." Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%. In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported. "Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves." Read more about Keurig earnings here. The EU's Trump insurance As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7. The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse. From the report: Read more here (subscription required). As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7. The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse. From the report: Read more here (subscription required). Europe approves $100B-plus tariff backup plan A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached. The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1. The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat. The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan. The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made. A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached. The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1. The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat. The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan. The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made. Trump tariffs wreaking havoc in Brazil's citrus belt Reuters reports: Read more here. Reuters reports: Read more here. South Korea weighs US investment pledge to trim auto tariff Trade discussions between the US and South Korea have led both sides to investigate the idea of creating a fund to invest in American projects. A report said this possible deal would be similar to the agreement Japan struck Tuesday with President Trump. The details of the plan are still not clear, but the US has been seeking pledges totaling hundreds of billions of dollars. However, further talks on a deal between the two sides may have to wait as a trade meeting between the US and South Korea has been postponed after Treasury Secretary Scott Bessent became unavailable due to a scheduling conflict, South Korea's Finance Ministry said Thursday. Bloomberg reports: Read more here. Trade discussions between the US and South Korea have led both sides to investigate the idea of creating a fund to invest in American projects. A report said this possible deal would be similar to the agreement Japan struck Tuesday with President Trump. The details of the plan are still not clear, but the US has been seeking pledges totaling hundreds of billions of dollars. However, further talks on a deal between the two sides may have to wait as a trade meeting between the US and South Korea has been postponed after Treasury Secretary Scott Bessent became unavailable due to a scheduling conflict, South Korea's Finance Ministry said Thursday. Bloomberg reports: Read more here. Hyundai Motor warns of bigger hit from US tariffs after Q2 profit fall Hyundai Motor ( HYMTF) reported a drop in second-quarter operating profit on Thursday. The company cited US tariffs on vehicles and parts as the reason for the decline and that President Trump's trade war had weighed on its bottom line, the automaker also warned of a bigger impact in the current quarter. The group's South Korean shares fell 2% Thursday. Reuters reports: Read more here. Hyundai Motor ( HYMTF) reported a drop in second-quarter operating profit on Thursday. The company cited US tariffs on vehicles and parts as the reason for the decline and that President Trump's trade war had weighed on its bottom line, the automaker also warned of a bigger impact in the current quarter. The group's South Korean shares fell 2% Thursday. Reuters reports: Read more here. Trump lifts tariff baseline rate, warns countries face 15-50% range President Trump appears to have raised the minimum US tariff rate to 15%, up from 10%, as he prepares to set new reciprocal tariffs before his Aug. 1 deadline. 'We'll have a straight, simple tariff of anywhere between 15% and 50%,' Trump said Wednesday at an AI summit in Washington. 'A couple of — we have 50 because we haven't been getting along with those countries too well.' Trump's latest statement that tariffs would begin at 15% is a new twist in his efforts to impose duties on almost every US trading partner. The US and Japan reached a trade agreement this week of 15%, which could be one reason why the US president has decided to increase the baseline tariff rate. The European Union said on Wednesday that it is getting ready to impose 30% tariffs on over $100 billion worth of US goods if no deal is made and if Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after the Aug. 1 deadline. Reports from The Financial Times on Wednesday have said that the EU and the US are now closing in on a 15% trade deal on European imports. Bloomberg News reports: Read more here. President Trump appears to have raised the minimum US tariff rate to 15%, up from 10%, as he prepares to set new reciprocal tariffs before his Aug. 1 deadline. 'We'll have a straight, simple tariff of anywhere between 15% and 50%,' Trump said Wednesday at an AI summit in Washington. 'A couple of — we have 50 because we haven't been getting along with those countries too well.' Trump's latest statement that tariffs would begin at 15% is a new twist in his efforts to impose duties on almost every US trading partner. The US and Japan reached a trade agreement this week of 15%, which could be one reason why the US president has decided to increase the baseline tariff rate. The European Union said on Wednesday that it is getting ready to impose 30% tariffs on over $100 billion worth of US goods if no deal is made and if Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after the Aug. 1 deadline. Reports from The Financial Times on Wednesday have said that the EU and the US are now closing in on a 15% trade deal on European imports. Bloomberg News reports: Read more here.
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Japan says $550 billion package in trade deal could finance Taiwanese chipmaker in US
By Makiko Yamazaki TOKYO (Reuters) -Japan's $550 billion investment package agreed in this week's U.S. tariff deal could help finance a Taiwanese firm building semiconductor plants in the U.S., Japan's top trade negotiator Ryosei Akazawa said on Saturday. Japan agreed to the sweeping U.S.-bound investment initiative, which includes equity, loans and guarantees, in exchange for lower tariffs on its exports to the U.S. However, the structure of the scheme remains unclear. "Japan, the United States, and like-minded countries are working together to build supply chains in sectors critical to economic security," Akazawa told public broadcaster NHK. To that end, he said projects eligible for financing under the package are not limited to U.S. or Japanese firms. "For example, if a Taiwanese chipmaker builds a plant in the U.S. and uses Japanese components or tailors its products to meet Japanese needs, that's fine too," he said, without specifying companies. The U.S. is significantly reliant on Taiwan's TSMC ( for advanced chip manufacturing, raising economic security concerns due to geographic proximity to China. TSMC announced plans for a $100 billion U.S. investment with President Donald Trump at the White House in March, on top of $65 billion pledged for three plants in the state of Arizona, one of which is up and running. Japan will use state-owned Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI) for the investments. A recent law revision has enabled JBIC to finance foreign companies deemed critical to Japan's supply chains. Akazawa told NHK that equity investment would account for just about 1-2% of the $550 billion, suggesting that the bulk will come in the form of loans and guarantees. When asked about the White House statement that the U.S. would retain 90% of the profits from the package, he clarified that the figure refers only to returns on equity investment, which would represent a small fraction of the total. While Japan initially hoped to secure half of the returns, a loss from the concession on the profit-sharing would be marginal compared to the roughly 10 trillion yen ($67.72 billion) in tariff costs that could be avoided under the deal, he said. He added that Japan aims to deploy the $550 billion investments during Trump's current term. ($1 = 147.6600 yen) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
