U.S.-based Nitricity, a renewable nitrogen fertilizer pioneer, announced the close of its Series A investment capital raise at USD$20 million.
This fundraising round was led by Khosla Ventures and Fine Structure Ventures with additional participation from Energy Impact Partners, Lowercarbon Capital and MCJ Collective.
Nitricity electrifies and distributes the production of nitrogen fertilizer. The Nitricity approach uses a new technology for regionalized nutrient production using low-cost solar or wind.
“This fundraising round brings us one step closer toward sustainable and locally produced fertilizer,” said Nicolas Pinkowski, CEO and co-founder of Nitricity. With this financing, Nitricity has raised $27 million in total funding to date.
“This electrified technology provides fertilizer in a climate-smart nitrate form, designed for efficient application, allowing it to address greenhouse gas emissions beyond ammonia-based technologies,” said Joshua McEnaney, president, CTO and co-founder at Nitricity.
The company said its technology has been proven in commercial-scale farming operations through multiple functional pilots, including sub-surface fertigation of tomatoes in a collaboration with California State University Fresno’s Center for Irrigation Technology and the Water, Energy and Technology Center. Through solar-fertilizer technology, Nitricity has demonstrated the power of its system to produce and apply nitrogen fertilizer closer to the end-user.
Nitricity aims for its renewable technology to be available in the market within a two-year period.
PHOTO: Nitiricity has a functional commercial-scale pilot that is coupled directly with a sub-surface-irrigation system and used to fertigate green peppers in Fresno, CA. This solar-fertilizer technology can enable an irrigation system to now provide and inject its own nitrogen fertilizer compounds.
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