Cleantech startup Nitricity has announced the successful raising of $50 million in a Series B funding round, aimed at scaling its technology for producing organic, low-emission nitrogen fertilizers. Nitrogen fertilizers contribute to approximately 5% of global greenhouse gas emissions and have been linked to waterway toxicity and biodiversity loss, according to Nitricity.
Founded in 2018 by CEO Dr. Nicolas Pinkowski, President and CTO Dr. Joshua McEnaney, and CSO Dr. Jay Schwalbe, Nitricity has developed organic nitrogen fertilizers, including its flagship product, “Ash Tea.” This product is created using air, water, renewable energy, and almond shells. The company claims its organic fertilizer reduces emissions by 92% compared to conventional fertilizers. Nitricity highlights that Ash Tea is cost-competitive with other organic fertilizers, flows smoothly through irrigation systems due to its liquid form, minimises clogging and maintenance issues, uses nitrogen more efficiently, and is pathogen-free and free from animal products.
The new funding precedes the planned groundbreaking of Nitricity’s organic fertilizer facility in Delhi, California, set to commence operations in 2026. This facility aims to increase production capacity by 100 times to achieve commercial-scale volumes. Nitricity reports that the plant’s full production capacity is already sold out through 2028 under binding offtake agreements with local organic growers.
The capital will be utilised to expand Nitricity’s technology across the US and into Europe, grow its team, and invest in research and development. Dr. Nicolas Pinkowski stated, “This is an inflection point for Nitricity. We’re scaling across the US and we’re very excited to expand into Europe in a serious and assertive way. The European market for our organic fertilizer is even larger than in the US, and demand is only growing against a backdrop of European governments looking to boost resilience and create circular agriculture economies.”
The financing round was led by European climate venture capital firm World Fund and returning investor Khosla Ventures, with participation from Chipotle’s Cultivate Next venture fund, Change Forces, Susquehanna Sustainable Investments, EIP, and Fine Structure Ventures. Dr. Nadine Geiser, Principal at World Fund, commented, “Our calculations show Nitricity’s brilliant, price-competitive sustainable, organic alternative provides a 92% reduction in emissions on average. As the EU looks to meet sustainability and organic requirements, demand for Nitricity’s solution is only rising, and we are proud to be supporting Nicholas and the team as they scale into Europe and beyond.”
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