Ammonia tech company Amogy has raised a $56 million bridge round, co-led by the VC arm of Saudi Arabia's Aramco, to help commercialize its tech. Why it matters: The round shows that international energy companies have a growing interest in using ammonia as a fuel for maritime and industry.

A New York–based startup that sailed what it says was the first ammonia-powered vessel announced Wednesday that it has raised $56 million in new venture funding. Amogy, which was founded by three Massachusetts Institute of Technology PhD graduates,

Amogy, a New York-based technology firm with its main manufacturing presence in Houston, told the Houston Business Journal its new round of $56 million would be used at least partially to grow its team in the Bayou City.

Amogy, a provider of mature, scalable, and efficient ammonia-to-power solutions, announced that it raised $56 million in venture