NH3 Clean Energy

What NH3 Clean Energy does

NH3 Clean Energy Limited (ASX: NH3, formerly Hexagon Energy Materials) is an Australian, Perth-based developer of the WAH2 project, a planned low-emission ammonia production facility in the Maitland Strategic Industrial Area of Western Australia's Pilbara region. The company is pre-revenue and pre-final investment decision, targeting first production in the second half of 2029 to supply Asia-Pacific markets including Japan, South Korea, and ultimately Europe. Target end-uses are coal co-firing in thermal power stations and ammonia bunkering for maritime shipping on the Pilbara-Asia corridor.

The core technology is gas reforming combined with carbon capture and storage: natural gas is reformed to produce hydrogen and CO2, the CO2 is sequestered in depleted gas fields using repurposed existing pipeline infrastructure, and the hydrogen is converted into ammonia. This pathway is positioned as a lower-cost alternative to electrolysis-based clean ammonia and is enabled by the project's co-location with Chevron gas feedstock, the Port of Dampier (a deepwater export terminal capable of handling Very Large Ammonia Carriers), and mature CCS infrastructure. A secondary revenue stream is expected from Australian Carbon Credit Units (ACCUs) generated by sequestered CO2.

NH3's go-to-market is sales-led enterprise origination targeting long-term offtake contracts with Asian utilities, power generation companies (named counterparties include JERA and TEPCO), and maritime operators, with gas priced at fixed levels plus CPI indexing under a 10-year Chevron MoU and ammonia offtake structures expected to follow a similar multi-year contract model. Distribution is direct B2B bulk export via Port of Dampier and an emerging ammonia bunkering hub co-developed with Pilbara Ports Authority, ITOCHU, Mitsui O.S.K. Lines, and Oceania Marine Energy. A small management team (1-10 employees) is led by CEO Stephen Hall (former Woodside Energy executive) and Chairman Charles Whitfield (formerly of Citigroup and Deutsche Bank).

Name

NH3 Clean Energy

Legal name

NH3 Clean Energy Limited

Website

https://nh3cleanenergy.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

1–10 employees

Short description

NH3 Clean Energy (ASX: NH3) is an Australian developer of the WAH2 low-emission ammonia project in Western Australia's Pilbara, using gas reforming with carbon capture to produce clean ammonia for export to Asian power generators and maritime bunkering customers, targeting first production in H2 2029.

Ownership category

akta.pro rank

Product category

Clean Ammonia Production

NAICS

Nitrogenous Fertilizer Manufacturing (325311), Industrial Gas Manufacturing (32512)

akta.pro primary industry

Nitrogen Fertilizers (Ammonia/Urea/UAN) (IMAEAEAA)

akta.pro secondary industry

Refuse-Derived Fuel (RDF) Production & Co-processing (Cement Kilns/Industrial Furnaces) (EUAIACAH)

Keywords

• Clean ammonia production
• Carbon capture storage
• Low-emission fuels
• Ammonia export
• Clean hydrogen carrier

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Infrastructure, Technology or R&D, Personnel, Operations

Revenue model

1. Clean Ammonia Sales: Production and sale of low-emission ammonia for export to Asia-Pacific markets including Japan and South Korea. Primary revenue from long-term offtake contracts with power generation companies for coal co-firing and maritime operators for ship fuel.
2. ACCU Carbon Credits: The company earns Australian Carbon Credit Units (ACCUs) for the CO2 sequestered, using the value to help offset the cost of carbon sequestration operations.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

NH3 Clean Energy develops and will produce low-emission ammonia at its flagship WAH2 facility in the Maitland Strategic Industrial Area in Western Australia's Pilbara region. The facility uses proven gas reforming combined with carbon capture and storage (CCS) to produce ammonia, which will be exported to Asia-Pacific customers (notably Japan and South Korea) for power generation coal co-firing and as maritime fuel (ammonia bunkering). Production targets first output in the second half of 2029, with feedstock gas supplied by Chevron under a long-term indexed supply agreement.

Product overview

NH3 Clean Energy operates as a single-product company focused on developing and delivering the WAH2 Clean Ammonia Project. The WAH2 project is one of the world's largest clean ammonia export projects, utilizing established gas reforming technology combined with carbon capture and storage to produce low-emission ammonia at scale. The product is designed to serve the growing Asia-Pacific demand for clean energy solutions, particularly Japan's and South Korea's coal co-firing initiatives for power generation and the emerging ammonia bunkering market for maritime decarbonization. The company leverages strategic partnerships for gas supply (Chevron), port infrastructure (Pilbara Ports Authority), and shipping/bunkering operations (ITOCHU, Mitsui O.S.K Lines, Oceania Marine Energy).

Differentiator

Problem solved

Functional benefit

Products and services

• WAH2 Clean Ammonia

Quantifiable outcome

• Up to 95% CO2 emission reduction for ships converted to ammonia fuel on Pilbara-Asia corridor
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered minor, core and secondary.

• Pilbara EcologicalminorImplementation/ SI/ Consulting Partner · 1 March 2026Engaged to conduct flora and vegetation surveys across the 400,000 square metre land allocation for environmental approvals and project development.
• ITOCHU CorporationcoreStrategic or Co-development Partner · 9 December 2025MoU to collaborate on developing clean ammonia bunkering operations in the Asia Pacific region, targeting the Pilbara region of Western Australia by 2030. Partnership aims to aggregate 300,000 tonnes per annum of clean ammonia demand supplied from NH3's WAH2 Project and support the Final Investment Decision targeted for late 2026.
• Mitsui O.S.K LinescoreStrategic or Co-development Partner · 7 October 2025Partnership for clean ammonia bunkering operations at Port of Dampier, collaborating with existing partners to establish bunkering infrastructure for iron ore bulk carriers.
• MOL (Mitsui O.S.K. Lines)coreStrategic or Co-development Partner · 1 July 2025MOL joined Australian partners in advancing low-emission ammonia bunkering, expanding the joint agreement targeting ammonia bunkering for the Pilbara-Asia shipping corridor.
• Oceania Marine EnergycoreStrategic or Co-development Partner · 10 June 2025Joint agreement with NH3 Clean Energy and Pilbara Ports Authority to establish ammonia bunkering operations by 2030 for the Pilbara-Asia shipping corridor.
• Woodside Energy (Angel CCS Hub)secondaryStrategic or Co-development Partner · 5 June 2025WAH2 Project exploring potential carbon capture deal with Woodside's Angel hub for CCS services, strengthening the carbon sequestration component of the clean ammonia production process.
• Pilbara Ports AuthoritycoreStrategic or Co-development Partner · 12 February 2025MoU for ammonia shipment for WAH2 Project, establishing ammonia export ties and Port of Dampier as the export hub. Partnership includes land allocation at Port of Dampier for clean ammonia project infrastructure.
• AGIG (Australian Gas Infrastructure Group)secondaryStrategic or Co-development Partner · 10 December 2024MoU signed for clean ammonia project pipeline connection, supporting infrastructure development for ammonia transport from production facility to port.
• Chevron AustraliacoreStrategic or Co-development Partner · 1 November 2024Gas supply agreement with Chevron for WAH2 project. MoU announced November 2024 provides gas supply at fixed price plus CPI indexing for ten years with a 5-year option to extend. This secures the primary feedstock for ammonia production.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Air Products: Global leader in industrial gases and hydrogen, and a major developer of mega-scale blue/green ammonia projects (e.g., NEOM green ammonia with ACWA Power, Louisiana blue ammonia JV). Competes for the same Japanese and Korean clean ammonia offtake contracts.
• Yara International: World's largest ammonia producer via Yara Clean Ammonia, actively decarbonizing its shipping-fuel and Asia-Pacific ammonia business with CCS-based blue ammonia and CCS-free 'green' ammonia. Directly competitive in target markets.
• Woodside Energy: Woodside is a major Australian LNG producer and a direct partner of NH3 via the Angel CCS Hub for WAH2's carbon sequestration. Woodside's broader hydrogen/ammonia ambitions (e.g., H2Perth) make it both a peer and counterparty in the Australian clean ammonia landscape.
• INPEX Corporation: Japanese upstream E&P major actively developing Kashima hydrogen/ammonia and CCS demonstration projects as part of Japan's clean fuel strategy. Both a potential customer and competitor in the same Japanese offtake market.

Regional players

• Origin Energy: Large Australian integrated energy company with hydrogen and ammonia pilot projects. Regional peer in Australian clean energy export development, though currently at an earlier stage of ammonia commercialization.

Emerging players

• HIF Global: Chilean-founded e-fuels developer building e-methanol and e-ammonia plants in Chile, US, and Australia using green hydrogen. Comparable in being a project developer targeting hard-to-abate shipping and Asia-Pacific demand for clean fuels.

Others

• JERA Co. Japan's largest power generator and a disclosed target customer of NH3 for ammonia co-firing at coal-fired power plants. While not a competitor, JERA's procurement needs shape the demand landscape NH3 is selling into, including ammonia bunkering plans at Hekinan.

Direct peers

• Fortescue Energy: Fortescue's green energy arm is developing large-scale green hydrogen and ammonia projects in Australia targeting similar Asia-Pacific export customers. Directly comparable product (clean ammonia), geography (Australia), and offtake orientation (Japan/Korea/maritime).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/nh3cleanenergy
• LinkedInlinkedin.com/company/nh3cleanenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NH3 Clean Energy