Navigator Holdings invests into Ten08 Energy who is developing Texas clean ammonia project

HOUSTON (ICIS)–Navigator Holdings, the largest fleet owner of handysize liquefied gas carriers, announced it is undertaking a co-investment with Attis Clean Energy into Ten08 Energy, which is creating a production export facility in Texas.

Revealed this past May, clean ammonia developer Ten08 is planning an industrial-scale hybrid blue and green ammonia production export facility to be located on the Texas Gulf Coast.

The goal is to produce the most competitively priced ammonia molecule to help decarbonize the power, shipping, fertilizer and chemicals industries.

The first phase, comprising 1.4 million tonnes/year of ultra-low carbon ammonia production, is expected to commence operations in late 2029 or early 2030.

Navigator said its financial commitment is currently $2.5 million and complements the development capital from lead investor Attis who made its initial investment to fund development until a final investment decision is concluded.

The company also received an option to make a larger investment once the investment decision is made of up to $100 million of preferred equity towards construction of the terminal and export infrastructure of the project, with potential further investments in subsequent expansions.

The parties intend to offer an integrated service of US-based clean ammonia production combined with international seaborne transportation of the ammonia on ammonia-powered gas carriers to customers in Europe and Asia.

“This investment is yet another example of our commitment to growth through energy infrastructure projects and meaningfully supports our existing ammonia shipping business,” said Navigator Holdings CEO Mads Peter Zacho.

“Clean ammonia is crucial to the success of the energy transition for both power generation and carbon free shipping, and the Ten08 project will play a critical role in further developing the clean ammonia industry.”