November 14, 2024
Danish Agtech Startup NitroVolt Secures €3.5m in Seed Funding To Advance Sustainable Fertilizer Technology
Copenhagen, Denmark –
NitroVolt, a pioneer in developing green ammonia technology, announced the successful close of a €3.5 million seed funding round on November 13, 2024. Co-led by BackingMinds and the Export and Investment Fund of Denmark, the round also saw participation from EQT Foundation, DivisionM, and Satgana. NitroVolt’s mission is to revolutionize fertilizer production by empowering farmers to produce sustainable, nitrogen-based fertilizer directly on-site, thereby reducing greenhouse gas emissions and boosting agricultural resilience.
About NitroVolt
Founded in June 2023, NitroVolt is dedicated to decarbonizing the production of ammonia-based fertilizers—a critical component in global agriculture. Traditional ammonia production methods are highly centralized and carbon-intensive, generating over 1% of the world's greenhouse gas emissions. NitroVolt’s innovative “Nitrolyzer” unit offers a localized solution: container-sized, modular systems that produce green ammonia on demand using only air, water, and electricity. This technology allows farms to bypass traditional fertilizer supply chains, significantly reducing emissions and ensuring a consistent, sustainable fertilizer source.
Purpose of financing
With the recent funding, NitroVolt plans to bring its Nitrolyzer units from development to deployment. The initial phase includes lab-to-field transition for the first demonstration units, enabling farmers to integrate sustainable fertilizer production into their operations. By scaling the Nitrolyzer technology, NitroVolt aims to create an environmentally and economically viable alternative to traditional ammonia supply, addressing both climate impact and supply chain vulnerabilities within the agricultural sector.
CEO's Insights
Suzanne Zamany Andersen, CEO and co-founder of NitroVolt, emphasized the urgency of sustainable action in the face of the climate crisis, stating:
"We are at a pivotal moment in the climate crisis, and the Nitrolyzer allows for immediate, sustainable action. Our modular units will reduce CO₂ emissions while supporting food security, particularly in regions where fertilizer availability is uncertain."
Investors' Perspective
Jasenko Hadzic, Principal at BackingMinds, emphasized the potential impact of NitroVolt’s technology:
“NitroVolt is poised to revolutionize the agricultural industry. Founders Suzanne and Mattia have not only developed groundbreaking technology but have also assembled a dedicated core team. We are proud to support NitroVolt’s journey and welcome new investors joining us in this mission.”
Look Ahead
NitroVolt’s Nitrolyzer system offers a decentralized, farm-friendly approach to fertilizer production, bypassing emissions-heavy supply chains and enabling sustainable ammonia synthesis powered by renewable energy sources. With this breakthrough, NitroVolt aims to empower farmers while making a significant impact in the fight against climate change.
For more information, visit NitroVolt on Linkedin