PlasmaLeap Technologies, the Australian company pioneering zero-emissions production of ammonia and nitric acid, said its recent A$30 million ($21 million) fundraising shows strong support for technology that can safeguard fertiliser supply from leading Australian agribusinesses and industry organisations.

The Series A round attracted investment from Grains Research and Development Corporation (GRDC), Hort Innovation, and GrainCorp through funds managed in partnership with Artesian, as well as New Zealand's Agnition Ventures, alongside organisations such as the Gates Foundation, Investible, Yara International, UniSuper and Twynam.

PlasmaLeap, which was spun out of the University of Sydney, has developed a patented reactor that can produce ammonia and nitrate – key ingredients in fertiliser – using only air, water and renewable electricity. Fertiliser prices have leapt following the start of the war in the Middle East, which supplies 45% of the world’s traded nitrogen fertilizer, with approximately one third of globally traded fertilisers passing through the Strait of Hormuz.

“The conflict in the Gulf has highlighted the risks to nitrogen fertiliser supply and the very real risks to farmers – and consumers – from price shocks, PlasmaLeap CEO and co-founder Frere Byrne said. “Anecdotally, we’re hearing that lack of diesel is affecting planting decisions, while local fertiliser supplies are quickly being exhausted. Our technology removes some of that risk by enabling farmers to produce fertiliser themselves, which has crucial benefits in terms of derisking supply chains, and reducing emissions.”

GRDC Managing Director Nigel Hart said technologies that improve fertiliser supply resilience and reduce emissions were strategically important for the Australian grains sector.

“PlasmaLeap’s approach to decentralised nitrogen production has the potential to strengthen supply chains while supporting more sustainable farming systems. GRDC is pleased to support the continued development and evaluation of this technology for Australian growers,” Mr Hart said.

GrainCorp Strategy and Ventures Manager Zack Atlas said: “At GrainCorp Ventures, we’re committed to investing in innovative technologies that deliver value for growers while improving the sustainability and resilience of agricultural supply chains. PlasmaLeap’s clean, decentralised fertiliser technology has the potential to help growers of all sizes lower emissions, reduce costs, and drive meaningful decarbonisation efforts.”

Anthony Kachenko, General Manager of Production & Sustainability R&D at Hort Innovation, said the investment reflects the role of innovation in strengthening grower resilience and sustainability.

“Access to reliable, affordable fertiliser is critical for horticulture growers, particularly as input costs and supply chain pressures continue to rise,” Kachenko said. “Technologies like PlasmaLeap’s, which enable on‑farm and localised production using renewable energy, have the potential to improve supply security while also reducing emissions - supporting both productivity and long‑term sustainability outcomes for Australian growers.”

This round demonstrates cross-sectorial backing for world-leading technology tackling pressing national agriculture needs and evidences a growing pool of local industry-aligned capital with tailored-strategic mandates suitable to fund industry growth and transformation.

Proceeds from the raising will be used to progress first-of-a-kind fertiliser hubs in NSW and Tasmania, expand field trials and further develop its core technology. Longer term opportunities for the technology beyond fertiliser include sustainable fuels and energy systems.