Denmark

[Funding alert] Danish-based Climatetech Company NitroVolt Secures €750K in Pre-Seed Funding

Mar 8, 2024 | By Startup Rise EU

Danish-based climatetech company NitroVolt secures €750K in pre-seed funding. from Swedish venture firm BackingMinds. The company is working on the "Nitrolyzer" machine, which will allow ammonia to be produced locally and more affordably with just air, water, and power.

Danish-based climatetech company NitroVolt secures €750K in pre-seed funding. from Swedish venture firm BackingMinds. The company is working on the "Nitrolyzer" machine, which will allow ammonia to be produced locally and more affordably with just air, water, and power.

One of the most significant substances in contemporary society is ammonia. It is necessary for half of the world's population to survive, and it is used in 50% of the food produced worldwide.

However, the existing ways of producing ammonia release 500 Mt CO2/year, or 2% of the world's CO2 emissions, which is comparable to the emissions of the entire aviation sector. There is a lot of pressure on the ammonia business to switch to more environmentally friendly production techniques.

Furthermore, given the current geopolitical climate, there is a need for local and environmentally friendly ammonia manufacturing. Russia currently leads the world in ammonia exports, with China and the Middle East following closely behind.

The goal of the NitroVolt team's research and development is to create green ammonia right on the farm, where it will be used.

Read also - Kurs Orbital Secures €3.7 Million in Seed Funding

The final result will be a system the size of a container that solely uses renewable electricity, water, and air. Its production technique completely eschews the use of fossil fuels, rendering its ammonia carbon-free, 100% renewable, and competitively priced when compared to current market rates for black ammonia.

Built upon seven years of intensive research in the field of electrochemical ammonia synthesis, Suzanne Zamany Andersen (CEO) and Mattia Saccoccio (CTO) officially spun out their technology from the Technical University of Denmark (DTU) in July 2023 after observing consistent positive results in scaling their system.

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In 2017, Zamany Andersen was employed as a PhD student in the Department of Physics at DTU, where the initial research project was initiated. He contributed to the scientific team's discovery of the procedure.

Suzanne Zamany Andersen, CEO & Co-founder of NitroVolt, explained: "Our technology makes it possible to produce ammonia locally and lets the end user control 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."

Susanne Najafi, Founding Partner at BackingMinds, shared: "NitroVolt caught our attention as we've sought green fertiliser alternatives for over two years. Its groundbreaking solution targets 100 per cent renewable, carbon-free ammonia, addressing a critical concern in agriculture. We seek companies like NitroVolt that tackle global challenges head-on, aligning perfectly with our mission for significant carbon emission reduction globally."

About NitroVolt

A small-scale ammonia synthesis device is being developed by NitroVolt to provide farmers with control over the manufacture of fertilizer. Their patent-pending electrochemical method will enable them to accomplish this. Their goals are to reduce the logistical expenses associated with fertilizer distribution, decarbonize nitrogen-based fertilizer production one farm at a time, and strengthen the agricultural sector's resistance to outside influences and political unrest.

Read also - Paris-based Zama Secures $73 Million in Series A Round Funding

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