NitroVolt
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NitroVolt secures €3.5M: How will this Danish startup transform green ammonia production
In a recent development, NitroVolt raises €3.5 million in seed funding. Participants in the round include female-led Swedish VC BackingMinds (which backed Uniqkey and Cemvision) the sovereign wealth fund of Denmark EIFO, and climate tech and early-stage investors EQT Foundation, Satgana, and DivisionM. The Breakthrough Energy Fellowship has provided a grant in 2023 and is now following that with an equity investment in the current round. This follows the €750K investment secured earlier this year.
The company is working towards a solution that will produce green ammonia directly at the farm, disrupting this cumbersome and long supply chain while circumventing all CO2 emissions. NitroVolt plans to take its technology from the lab to the real world. The next phase of the company will be to scale its technology. It will also be used to build the first on-site container-sized demonstration unit, producing green ammonia from air, water, and clean electricity. With the capital, the company will be able to identify and forge partnerships with partners and suppliers to further support the scaling and building of these systems as the company continues to grow.
Danish startup NitroVolt lands €750K to scale up green ammonia production
NitroVolt is working towards a solution that will produce green ammonia directly at farms. Now, NitroVolt has raised €750K in a pre-seed round from the Swedish venture firm BackingMinds (backed SNERPA). Previously, the startup received the Breakthrough Energy Fellowship Grant in 2023.
NitroVolt will use the investment to enable a local and cheaper production of ammonia. This is possible with its Nitrolyzer unit, which produces ammonia using only air, water and electricity. The company will use the funds to scale production by a factor of 1,000 and for market expansion.