PlasmaLeap secures $20 million to scale zero-emissions ammonia and fertilizer technology

PlasmaLeap Technologies has raised nearly $30 million Australian dollars (about USD 20 million) in a Series A round to accelerate the commercialization of its zero-emissions ammonia and nitric acid production systems. The funding was led by the Gates Foundation, Investible and Yara Growth Ventures, the venture arm of Yara International, alongside Twynam, GrainCorp Ventures, Uniseed/UniSuper, Artesian, SVG Ventures and Agnition Ventures, part of Ravensdown.

The Sydney-based company, spun out of the University of Sydney, plans to use the proceeds to develop first-of-a-kind fertilizer hubs in New South Wales and Tasmania and to expand field trials. It will also advance its core reactor technology for longer-term applications in sustainable fuels and industrial chemicals.

PlasmaLeap’s patented modular systems use air, water and renewable electricity to produce ammonia and nitrate, aiming to reduce emissions linked to nitrogen fertilizer production, transport and application. According to industry estimates, nitrogen fertilizers account for roughly 2.5% of global CO2-equivalent emissions due to fossil fuel-intensive manufacturing and chemical losses in the field. The global ammonia market, valued at about USD 69 billion annually, is projected to grow significantly over the next two decades.

Chief executive Frere Byrne said the capital would enable the company to transition from pilot projects to commercial deployment, positioning decentralized fertilizer production as a tool to cut farm input costs and reduce exposure to supply-chain disruptions. Investors said the technology could help lower the carbon footprint of agriculture while improving energy efficiency and supporting precision farming systems.