Jupiter Ionics raises $9m funding to scale green ammonia
Summary
Jupiter Ionics has raised $9 million to progress its electrochemical green ammonia technology.The funding will go towards accelerating the scale up of a self-contained system that takes in water, air and renewable energy and produces ammonia.It believes its technology has transformative potential as ammonia is the essential ingredient producing fertiliser and a key enabler of the low-carbon energy transition.Green ammonia will have a range of uses in a low-carbon future, including as a fuel in its own right, in international shipping and as a hydrogen carrier.CEO Dr Charlie Day said three new investors, Wesfarmers Chemicals, Energy & Fertilisers, CIMIC Group, and Breakthrough Victoria, joined original investors, Tenacious Ventures, Monash Investment Holdings, JCVC and Olabella, to continue advancing the shift to a Net Zero future.Weve made great strides over our first few years as a company, and this investment will help us integrate our technology into larger prototypes and accelerate our path to market, he said.CIMIC Group Executive Chairman Juan Santamaria said: Production of carbon-neutral, green ammonia is key to enabling ammonia-fuelled transport and the export of renewable energy. This capital raise is a positive step towards commercialising Jupiter Ionics electrochemical technology.Monash University CCO and Jupiter Board member Alastair Hick said accelerating the scaling up of green ammonia production with innovating technologies has never been more critical.Jupiter Ionics is making great progress towards achieving a significant global impact and were delighted to be part of that, he said.Grant Dooley, CEO of Breakthrough Victoria, said the investment aligns with its commitment to supporting innovative solutions that address both environmental and economic challenges and represents an important sovereign capability for Australian agriculture.Yara, a leading Norwegian crop nutrition company and a global leader in ammonia trade and shipping, and GHC SAOC, a wholly owned subsidiary of Acme Cleantech, recently signed a firm and binding agreement for supply of ammonia.The long-term offtake agreement covers the supply of 100,000 tonnes a year of renewable ammonia and it is possibly the worlds first arms length contract for green ammonia of this scale and tenure.Renewable ammonia will be supplied by Acme from Phase-1 of its Oman project with an expected start date in 2027 and will comply with the EU RFNBO and Renewable Energy Directive requirements. Over its life cycle, the project will help reduce global GHG emissions by up to five million tonnes of CO2 equivalents.The shipping industry is busy embracing ammonia with more new builds featuring dual fuel capabilities in order to reduce its 3% contribution to global carbon emissions.MAN Energy Solutions plans to deliver later this year its first engine fuelled by ammonia for installation on a new vessel in Japan and will be ready to offer ammonia-powered engines to its clients after 2027, according to reports.Green ammonia is typically more expensive than brown but is becoming cheaper as renewable energy prices fall.Sanctions against Russia, a significant producer of ammonia and natural gas, have caused fertiliser shortages and led to spiralling prices.But alongside investment and infrastructure needed to scale green ammonia, safety considerations that come with transporting and storing it due to toxicity must be overcome.The growth of liquid ammonia adds another dimension, and could mirror the early rise of the liquefied natural gas (LNG) sector (click here).