Navigator Holdings (NYSE: NVGS), known as “Navigator Gas,” has announced a strategic co-investment with Attis Clean Energy in Ten08 Energy, a company dedicated to developing a cutting-edge hybrid blue and green ammonia production facility on the Gulf Coast of Texas.
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Navigator Gas, the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, is a global leader in the transportation of petrochemical gases, including ethylene, ethane, liquefied petroleum gas (LPG), and ammonia. This new venture marks a significant step in expanding its footprint in clean energy.
Ten08 Energy’s ambitious project aims to establish a hybrid blue and green ammonia production and export facility capable of producing 1.4 million metric tonnes of ultra-low carbon ammonia annually by late 2029 or early 2030. This initiative is designed to support the decarbonization of the power, shipping, fertilizer, and chemical industries.
Navigator’s initial $2.5 million investment complements the development capital already provided by Attis, which made its first investment in May. Navigator also has an option to further invest up to $100 million in preferred equity at the Final Investment Decision stage, with the possibility of additional investments as the project expands.
In collaboration with Ten08, Navigator will offer an integrated service that combines U.S.-based clean ammonia production with global seaborne transportation using ammonia-powered gas carriers. This initiative is set to provide low-carbon fuel for the power and shipping industries, significantly contributing to the decarbonization of the fertilizer and chemical sectors, and reducing greenhouse gas emissions in the shipping industry.
“This investment is a testament to our commitment to growth through energy infrastructure projects and strengthens our existing ammonia shipping business,” said Mads Peter Zacho, Chief Executive Officer of Navigator. “Clean ammonia is essential for the energy transition in power generation and carbon-free shipping, and the Ten08 project will be pivotal in advancing the clean ammonia industry.”
Navigator’s fleet currently consists of 56 semi- or fully-refrigerated liquefied gas carriers, 25 of which are equipped to transport ethylene and ethane. This investment in clean ammonia production aligns with the company’s broader strategy to support the global shift towards low-carbon energy solutions.
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