Financing updates for novel ammonia energy solutions
Byon December 01, 2021
This week we explore four financing announcements for novel ammonia energy technologies:
Jupiter Ionics: modular 3rd generation synthesis
Jupiter Ionics has just closed a successful $1.75 million seed funding round, having been granted exclusive license by Monash University to develop its modular green ammonia synthesis system. The news follows on from a recent R&D breakthrough which addressed one of the key issues with electrochemical nitrogen reduction, and the team is confident they can successfully transition their 3rd generation ammonia synthesis technology from the lab bench to the shop floor.
Hydrofuel: novel cracking technology
Hydrofuel has acquired a full stake in US-based organisation Kontak Hydrogen Storage. Kontak’s patented “Hydrogen Release Module” technology offers a novel, miniature, lightweight solution for cracking liquid ammonia fuel into gaseous hydrogen for consumption in fuel cells or combustion engines. At the announcement, Hydrofuel also launched a $5 million private placement offering towards development of Kontak’s technology (as well as financing Hydrofuel’s suite of ammonia energy technologies).
FuelPositive: green ammonia synthesis
In a November corporate update, FuelPositive announced several updates. A successful $10 million in fund raising took place in 2021, with the organisation now on track to deploy and showcase its green ammonia production technologies throughout 2022 in an “aggressive timeline”. By the end of March 2022 the team intends to be validating the purity of green ammonia product from its first prototype system, with deployment of its pilot system in mid/late 2022. Serial manufacturing can then proceed in 2023.
Nitricity: point-of-use green fertiliser
Nitricity, an Agtech startup with unique technology to produce renewable nitrogen fertilizer at point-of-use, closed a successful $5 million seed investment round led by Energy Impact Partners, a global investment platform. Nitricity’s proprietary system connects directly to farm hardware and produces fertilizer using only air, water, and electricity. A pilot system is currently producing fertilizer on Terranova Ranch in Fresno County, and in collaboration with the local Center for Irrigation Technology are running pilot experiments for fertilising tomatoes and green peppers.