PlasmaLeap Technologies has raised nearly A$30 million (US$20 million) in a Series A funding round to scale its zero-emissions ammonia and nitric acid production technology.
The round was led by the Gates Foundation, Investible and Yara Growth Ventures, with additional backing from Twynam, GrainCorp Ventures, Uniseed/UniSuper, Artesian, SVG Ventures and Agnition Ventures, part of New Zealand fertiliser co-operative Ravensdown.
Funds will be used to develop first-of-a-kind fertiliser hubs in New South Wales and Tasmania, expand field trials and further commercialise the company’s core technology. The capital will also support longer-term applications in sustainable fuels and energy systems.
Spun out of the University of Sydney, PlasmaLeap has developed a patented reactor system that produces ammonia and nitrate using air, water and renewable electricity. The modular technology is designed to enable decentralised fertiliser production at farms or local hubs, reducing reliance on fossil fuel-intensive manufacturing and long-distance supply chains.
Nitrogen fertiliser production, transport and application account for around 2.5% of global CO₂e emissions. Access and affordability also remain uneven globally, with prices in parts of sub-Saharan Africa significantly above global benchmarks due to logistics and financing constraints.
Chief Executive and co-founder Frere Byrne said the investment would enable the company to move from successful trials to real-world deployment, demonstrating how decentralised, low-carbon fertiliser production can reduce emissions and strengthen food and fuel security.
Stian Nygaard, Investment Director at Yara Growth Ventures, said the platform offers lower CO₂ emissions and improved energy efficiency, with potential to scale competitively. Martin Debaig, Fertigation Director at Yara International, described distributed liquid nitrogen production as a new frontier for agriculture, supporting fertigation and precision farming.
The global ammonia market, valued at approximately US$69 billion annually, is projected to triple over the next two decades.
PlasmaLeap said its systems are designed to integrate with existing fertiliser supply chains and could generate high-quality carbon credits through emissions reductions across production, transport and application. The company is also exploring the production of synthetic hydrocarbons from low-carbon feedstocks to support decarbonisation in hard-to-abate sectors.
