Nitricity, the climate scaleup electrifying the production of nitrogen fertilizer worldwide, announced it has closed a $50 million Series B funding round, days ahead of the groundbreaking ceremony on the company’s first-of-a-kind organic fertilizer plant in Delhi, California.
The funding round was co-led by new investor World Fund, Europe’s leading climate VC, and returning investor Khosla Ventures, with participation from Chipotle’s Cultivate Next venture fund, Change Forces, Susquehanna Sustainable Investments, EIP, and Fine Structure Ventures [from the Fidelity Investments parent group, FMR].
Nitricity’s flagship organic, nitrogen fertilizer liquid – Ash Tea – is made from recycled organic almond shells, air, water and renewable power. Crucially, Ash Tea is cost-competitive with other commercially available organic fertilizers, while being better for the planet, pathogen-free and free from animal products. The product has proven highly effective with farmers, with field trials reporting up to a 30% yield increase and noticeable improvements in early plant growth, and every ounce of Ash Tea’s current production is already commissioned.
A market-leading solution scaling up to meet proven demand from organic farmers
Nitricity has invented a market-leading alternative to traditional nitrogen-based synthetic fertilizers. Conventional fertilizers, created through the Haber-Bosch process that sees ammonia synthesized from fresh air, account for about 5% of global greenhouse gas emissions (GHG) worldwide. Their widespread use revolutionized food production, but it has left soil microbiomes in a dire state, made waterways toxic, and contributed to global biodiversity loss.
Ash Tea stands out as a fully organic fertilizer that offers farmers a sustainable and ethical alternative to traditional pelletized, dried slaughterhouse fluids used by competitors. Its liquid form flows smoothly through irrigation systems, minimizing clogging and maintenance issues. Nitricity fertilizer also utilizes nitrogen more efficiently than competitor products, meaning farmers can apply less product and cut costs. Nitricity is a safer, more effective fertilization solution serving the growing demand for sustainable, regenerative practices.
The company was founded by a team of graduate students – Dr. Nicolas Pinkowski (CEO), Dr. Joshua McEnaney (president and CTO) Dr. Jay Schwalbe (CSO) – from Stanford University in 2018. They started out co-living, testing out their solar-powered fertilizer systems on a single lemon tree in their backyard. That tree has since grown sky-high, while Nitricity has grown to secure over $150M in its sales pipeline following a period of rapid growth.
The founders are tapping an enormous global market. McKinsey expects the $150 billion fertilizer market to grow around 2.1%pa, while Nitricity’s internal estimates suggest the liquid organic nitrogen fertilizer market alone could top $11 billion. Today, the company’s pilot factory in Fremont produces 80 tons of fertilizer each year, which feeds around 80 acres of crops, and this is just the start.
Nitricity expands across the US and into Europe as World Fund’s first US investment
Nitricity plans to use the fresh capital to scale its clean technology across the US and into Europe, make 10+ key hires into its 38-person team, and invest in R&D.
The company is building capacity in the Western US to be closer to its organic farmer customer base and expand into high-value fruit markets. New funding will also enable Nitricity to start pilot and field trials across Europe and make its first strategic hires on the continent. Nitricity plans to use local agricultural waste materials, including wood and waste from olive oil manufacturing, to power its European fertilizer production. Capital will also be used to invest further in R&D to improve system efficiency and expand into markets such as corn and wheat.
Dr. Nicolas Pinkowski, Nitricity co-founder and CEO, 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.”
“We started out as grad students with a $5000 CalTech grant and a plan. Now, we have more customers than we can supply, so it’s about scaling to cater to that demand. We are thrilled to welcome new investors and deepen our partnerships with existing investors. Raising this capital is an enormous vote of confidence in Nitricity and our product, and having a prominent European investor in our syndicate will dramatically speed up our ability to connect with local partners and customers.”
World Fund, which invests in climate tech companies with significant decarbonization potential, has backed winners including IQM, Space Forge and Planet A Foods. The investment into Nitricity is its first US ticket, and marks a step-change in reach for the fund.
Dr Nadine Geiser, Principal at World Fund, said: “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 Nicholas and the team as they scale into Europe and beyond.”
Groundbreaking for innovative facility producing cost-competitive organic nitrogen
Slated for operation in 2026, Nitricity’s first-of-a-kind organic fertilizer facility in Delhi, California represents a major milestone, marking an 100-fold increase in production capacity to achieve commercial-scale volumes of cost-competitive organic nitrogen fertilizer. The plant’s full production capacity is already sold out through 2028 under binding offtake agreements with local organic growers. The plant, which was funded by Elemental Impact and Trellis Climate and will create 20+ jobs in Merced County, will hold a groundbreaking ceremony in September.
“Nitricity’s commitment to producing fertilizer that is optimized for farmers compliments Chipotle’s approach to Food with Integrity,” stated Curt Garner, President, Chief Strategy and Technology Officer at Chipotle. “Since our initial investment in 2023, we’ve seen continued innovation and believe the new facility and expanded team will enable Nitricity to scale their climate-smart technology and support growers globally.”
Rajesh Swaminathan, Partner at Khosla Ventures, said: “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.”
Photo Caption: Nitricity founders Dr. Joshua McEnaney (President and CTO), Dr. Jay Schwalbe (CSO), and Dr. Nicolas Pinkowski (CEO) at the company’s office in Fremont, California. (Source: Pique Action)