NEW TECH FOODS

US climate tech company Nitricity has raised $50 million in a Series B funding round to accelerate production of its organic nitrogen fertilizer and expand operations into Europe.

The round was co-led by World Fund, making its first US investment, and returning investor Khosla Ventures. Other participants included Chipotle’s Cultivate Next venture fund, Change Forces, Susquehanna Sustainable Investments, EIP and Fine Structure Ventures.

Nitricity produces Ash Tea, a liquid organic nitrogen fertilizer made from recycled almond shells, air, water and renewable energy. The company says the product is cost-competitive with conventional organic fertilizers and can be applied through irrigation systems. Field trials have reported yield increases of up to 30%.

The new financing comes ahead of the groundbreaking ceremony for Nitricity’s first large-scale plant in Delhi, California, scheduled to open in 2026. The facility will expand production capacity 100-fold, with output already committed under offtake agreements with organic growers through 2028. The project is backed by Elemental Impact and Trellis Climate and is expected to create more than 20 jobs in Merced County.

Nitricity intends to use the Series B capital to expand capacity in the Western US, hire more than ten new staff, and begin pilot projects and field trials in Europe. In Europe, the company plans to produce fertilizer using local agricultural by-products such as wood waste and olive oil residues.

Founded in 2018 by Stanford graduates Nicolas Pinkowski (CEO), Joshua McEnaney (president and CTO) and Jay Schwalbe (CSO), Nitricity currently operates a pilot plant in Fremont, California, producing 80 tons of fertilizer annually. The company estimates the liquid organic nitrogen fertilizer market could reach $11 billion.

Pinkowski said: “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. We offer an exceptional organic, circular solution for the market.”

Nadine Geiser, principal at World Fund, commented: “The Haber-Bosch process typically sees around 60-70% of nitrogen applied to crops get lost. This cannot continue. Our calculations show Nitricity’s brilliant, price-competitive sustainable, organic alternative provides an <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 Nicolas and the team as they scale into Europe and beyond.”

Rajesh Swaminathan, partner at Khosla Ventures, added: “Fertilizer production hasn’t changed in over a century. It’s complex, expensive and vulnerable to global supply shocks. Nitricity is taking a fundamentally different approach with a modular system that turns almond shells, air and water directly into organic fertilizer."

"Since investing in 2022, Nico and the team have made impressive progress, securing premium offtake agreements and preparing to break ground on a first-of-a-kind plant. This kind of innovation is what it takes to transform the global agriculture system.”

Top image: (L-R): Joshua McEnaney, Jay Schwalbe and Nicolas Pinkowski.

© Pique Action