Camperdown-based PlasmaLeap specializes in producing ammonia and nitric acid with zero carbon emissions. The company recently announced an AUD $30 million, or $20 million USD, funding round led by the Gates Foundation, Investible and Yara Growth Ventures to advance its fuels and industrial chemical products.
The company’s technology allows farmers to produce sustainable nitrogen fertilizer directly on their farms or at local hubs. Its goal is to help reduce emissions, input costs and supply-chain dependency. With its fresh capital, PlasmaLeap will advance its fertilizer hubs in New South Wales and Tasmania. It will also expand its field trials, further develop its core technology and fund longer-term applications in sustainable fuels and energy systems.
“The backing of these strategic and institutional investors is strong validation of both the PlasmaLeap technology and the scale of the opportunity,” Frere Byrne, PlasmaLeap’s CEO and co-founder, said in a statement. “This funding allows us to move from successful trials into real-world deployment, demonstrating how clean, decentralized fertilizer and chemical production can transform agriculture, reduce emissions and guarantee sovereign security of critical resources like food and fuel.”
