Green ammonia company Jupiter Ionics raises $9 million

Jupiter Ionics — which is commercialising an emissions-free, electrolysis-based method to create ammonia — has announced a $9 million capital raise, with Wesfarmers Chemicals, Energy & Fertilisers, CIMIC Group, and Breakthrough Victoria joining original investors.

The company said in a statement on Monday that funding will go towards “accelerating the scale up of a self-contained system” for synthesising ammonia.

Original investors include Tenacious Ventures, Monash Investment Holdings, JCVC and Olabella.

Jupiter’s technology is described as using nitrogen from air in combination with hydrogen produced through the electrolysis of water, with the modular, scalable design of its ammonia cells potentially useful for fertiliser production in regional locations.

“We’ve 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,” said CEO Dr Charlie Day.

CIMIC Group Executive Chairman Juan Santamaria added that, “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.”

The company was founded in 2021 and has its origins in Monash University research by Professor Doug Macfarlane, the company’s Chief Scientist, and ARC Future Fellow, Associate Professor Alexandr Simonov.

Jupiter led a consortium that was awarded a $2.65 million Cooperative Research Centre Projects grant in 2022.

Picture: Jupiter’s MacFarlane Simonov Ammonia Cell (supplied)

Further reading

Monash University’s green ammonia breakthrough