LSB Industries and Amogy Announce Collaboration Agreement to Develop End-to-End Supply Chain of Low-Carbon Ammonia as Transportation Fuel

LSB Industries, Inc. (“LSB” or “the Company”), (NYSE: LXU) and Amogy Inc. (“Amogy”) today jointly announced they have entered into a memorandum of understanding (MOU) aimed at promoting the adoption of low-carbon ammonia as a marine fuel, initially for the U.S. inland waterways transportation sector. Through joint efforts, the companies will focus on advancing the understanding, utilization, and advocacy of low-carbon ammonia as a sustainable fuel.

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Pursuant to the MOU, the companies will collaborate on the evaluation and development of a pilot program that integrates LSB’s low carbon ammonia and Amogy’s ammonia-to-power solution. Upon successful completion of the evaluation and pilot program, the companies expect to further collaborate on a larger-scale development, including exploration of opportunities for development of an end-to-end supply chain of low carbon ammonia and deployment of Amogy technology across multiple applications, including maritime vessels. The evaluation and pilot program includes potential engagement with other parties across the ammonia value chain. The two parties will also collaborate on various advocacy, education, and outreach efforts regarding the use of ammonia as a fuel.

President, and Chief Executive Officer of LSB Industries, Mark Behrman, stated, “Our vision at LSB is to be a leader in the energy transition through the production of low and no carbon products. This collaboration agreement is an exciting step in our journey toward achieving our goals and we’re thrilled to be working with such an outstanding partner in Amogy.”

“We’re delighted by this opportunity to work with LSB to advance the development of a low-carbon ammonia supply chain primarily in the US,” says Seonghoon Woo, CEO of Amogy. “The success of this collaboration will be a key step toward solidifying ammonia's position as a comprehensive solution for decarbonizing the commercial transportation sector across the entire value chain, from the upstream production to the downstream usage.”

About LSB Industries, Inc.

LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma, is committed to playing a leadership role in the energy transition through the production of low and no carbon products that build, feed and power the world. The LSB team is dedicated to building a culture of excellence in customer experiences as we currently deliver essential products across the agricultural, industrial, and mining end markets and, in the future, the energy markets. The company manufactures ammonia and ammonia-related products at facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor, Oklahoma and operates a facility for a global chemical company in Baytown, Texas. Additional information about LSB can be found on our website at www.lsbindustries.com.