NitroVolt raises €750,000 for green ammonia tech
The Danish startup NitroVolt announced on Wednesday that it has raised €750,000 in pre-seed funding, in a round led by the venture capital fund BackingMinds. The company will use the investment to develop and scale production of its lithium-mediated ammonia synthesis reactor – or ‘Nitrolyzer’ unit – which it says can produce green ammonia on the farm using only air, water, and renewable electricity.
NitroVolt’s CEO and co-founder, Suzanne Zamany Andersen, said: “Our technology makes it possible to produce ammonia locally and puts the end user in control of the production. This means that the production becomes resilient to supply chain volatility and green simultaneously – something that doesn’t exist on the market today.”
The startup’s CTO and co-founder, Mattia Saccoccio, commented that “With the new funding, we’re moving out of the [Technical University of Denmark] and hiring the competencies we need to scale our technology. During 2024, we expect to increase our green ammonia output production by a factor of 1,000.”
NitroVolt previously received a grant from Bill Gates’ Breakthrough Energy fund, which seeks to promote the development of sustainable energy technologies with a view to arresting climate change.
