VICTORIA / Australia, 4 March 2024: Victoria's commitment to a sustainable future takes a leap forward with a $4 million investment in Jupiter Ionics, a pioneering company developing a revolutionary green ammonia technology. This innovative approach has the potential to transform agriculture by offering a clean, reliable, and regionally produced source of fertilizer.
"Green ammonia" refers to ammonia produced without fossil fuels. Traditionally, ammonia production, crucial for creating fertilizers, contributes significantly to greenhouse gas emissions. Jupiter Ionics tackles this challenge head-on with their unique electrolytic cell technology. This technology utilizes readily available air and water, combined with hydrogen produced through renewable electricity, to create carbon-neutral ammonia.
Breakthrough Victoria, the Victorian government's investment arm, is leading the charge. Their $4 million contribution joins an impressive $9 million Series A funding round, alongside established players like Wesfarmers Chemicals, Energy & Fertilisers and CIMIC Group.
This investment goes beyond environmental benefits. The modular and scalable design of Jupiter Ionics' ammonia cells allows for regional production, potentially freeing farmers from the price volatility of conventional fertilizers and fostering a reliable, shorter supply chain. This translates to economic empowerment for both farmers and regional communities.
Grant Dooley, CEO of Breakthrough Victoria, emphasizes the project's dual focus: "We are excited to invest in Jupiter Ionics... This investment aligns with our commitment to supporting innovative solutions that address both environmental and economic challenges..."
Minister for Economic Growth, Tim Pallas, highlights the additional benefit of job creation: "This $4 million investment will support jobs for Victorians..." Up to 19 new jobs are expected to be created in Victoria as Jupiter Ionics utilizes the funding to optimize and scale their technology, invest in new equipment, and propel their vision forward.
Dr. Charles Day, CEO of Jupiter Ionics, expresses both pride and enthusiasm: "Jupiter Ionics is proud of its origins... We are therefore delighted that Breakthrough Victoria has decided to support our ongoing mission to accelerate the transition to a net-zero future."
This investment in Jupiter Ionics signifies a significant step towards a more sustainable and economically robust agricultural future for Victoria, and potentially, the world. With green ammonia technology paving the way, the path to a cleaner and more secure food supply chain seems brighter than ever.
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