SK Innovation’s Investment in Amogy

O’Melveny advised SK Innovation on the deal while Wilson Sonsini represented Amogy.

SK Innovation announced its investment in Amogy Inc., a pioneer of ammonia power solutions.

The investment was announced on June 23.

SK Innovation’s investment accounted for US$30 million of a total US$46 million in additional capital raised by Amogy. The transaction is a bridge note financing, convertible into equity upon certain further equity financings.

Established in 1962 as South Korea’s first and largest oil refining company, SK Innovation is SK Group’s intermediate holding company in the field of energy, petrochemical, lubricants, E&P, e-mobility battery, and information and electronic materials businesses, along with eight major subsidiaries.

Founded in 2020 and headquartered in New York, Amogy offers ammonia-based, emission-free, high energy-density power solutions to decarbonize transportation for a sustainable future.

The O’Melveny team advising SK Innovation was led by Korea Corporate Practice Head Daniel Kim (Picture), partner Woojae Kim, and associates Hae-in Park and Elizabeth Lopez.

The Wilson Sonsini team that advised Amogy in the transaction included Randy Lewis, Kevin Rogan, Cassie Wetzel, Leslie Stolper, Bridget Grier, and Tamra Mast.

Involved fees earner: Daniel Kim – O’Melveny & Myers LLP; Woojae Kim – O’Melveny & Myers LLP; Elizabeth Lopez – O’Melveny & Myers LLP; Hae-in Park – O’Melveny & Myers LLP; Bridget Grier – Wilson Sonsini Goodrich & Rosati; Randy Lewis – Wilson Sonsini Goodrich & Rosati; Kevin Rogan – Wilson Sonsini Goodrich & Rosati; Leslie Stolper – Wilson Sonsini Goodrich & Rosati; Cassie Wetzel – Wilson Sonsini Goodrich & Rosati;

Law Firms: O’Melveny & Myers LLP; Wilson Sonsini Goodrich & Rosati;

Clients: Amogy; SK Innovation Co Ltd;

Martina Bellini

Author: Martina Bellini