EQT Foundation has participated in a €3.5 million seed round in NitroVolt, a Danish startup that is pioneering a novel approach to generating green ammonia directly at farm sites. This investment round, which follows NitroVolt’s recognition as a Breakthrough Energy Fellow, brings together investors including BackingMinds, EIFO, Satgana, Breakthrough Energy Fellowship and Division M. NitroVolt’s electrochemical ammonia synthesis process offers a transformative approach to the environmental and logistical issues associated with traditional ammonia production. By providing a means for farmers to produce ammonia directly on-site using only air, water, and renewable electricity, NitroVolt reduces dependance on centralized production and extensive supply chains while simultaneously making ammonia production carbon-free and cost competitive. This round of seed funding will support the development of NitroVolt’s first on-farm demonstration unit and scaling of the technology.

Ammonia is essential to global agriculture, supporting the production of nearly half the world’s food supply. However, conventional production using the Haber-Bosch process accounts for ~2% of global CO2 emissions, and relies heavily on global distribution networks. The company’s “Nitrolyzer” technology directly addresses these challenges by offering farmers a means to produce zero-emission ammonia on the farm, allowing for a more consistent and sustainable fertilizer solution.

The EQT Deal Team, consisting of Emil Sylvest Christiansen, Anjum Rangwala and Eric Joubert will support NitroVolt on the scaling and business development fronts, by leveraging EQT’s commercial and sustainability expertise and helping with connections to the broader agricultural and chemical network within EQT.