HOCHTIEF : Multimillion-dollar capital raise for Green Ammonia advance

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MEDIA RELEASE - 4 March 2024

Multimillion-dollar capital raise for Green Ammonia advance

A greener way to feed the world is one step closer with Jupiter Ionics' $9 million capital raise to progress their electrochemical green ammonia technology.

This world-leading technology has transformative potential as ammonia is the essential ingredient producing fertiliser and a key enabler of the low-carbon energy transition.

Traditional ammonia production is very carbon intensive which is why Jupiter Ionics' use of electrolysis to make ammonia - with potentially zero carbon emissions - is so revolutionary for global food production and the broader 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 store of hydrogen.

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.

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.

"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," 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 we're delighted to be part of that," he said.

CEO Grant Dooley said Breakthrough Victoria was excited to invest in Jupiter Ionics and their mission to make ammonia production more sustainable and decarbonise agricultural production systems.

"This investment aligns with our commitment to supporting innovative solutions that address both environmental and economic challenges and represents an important sovereign capability for Australian agriculture," he said.

The funding comes a year after Jupiter Ionics' technology was recognised by a range of leading international bodies, including the Royal Society of Chemistry and the Nature Awards spinoff prize.

-ENDS-

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About Jupiter Ionics Jupiter Ionics is a team of passionate scientists and engineers with a vision for a future economy powered by carbon neutral Green Ammonia. We are developing advanced electrochemical technologies that will help make that vision a reality through the development of modular ammonia production systems. Based at Monash University in Melbourne, Australia, our core technology is built on the foundation of research conducted in the School of Chemistry laboratory of Prof Doug Macfarlane, the company's Chief Scientist, and ARC Future Fellow Assoc Prof Alexandr Simonov.

Media Enquiries:

Charlie Day, CEO, Jupiter Ionics

1. +61 417 347 924; E:charlie@jupiterionics.com

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