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- Nitricity
Nitricity Funding, Investors & Competitors
Nitricity has raised $101M across 5 funding rounds, most recently a $64M Series B in September 2025.
Last Nitricity funding round
$64M
Series B · Sep 2025
Cumulative funding Nitricity raised
$101M
across 5 funding rounds
Key investors in Nitricity
Energy Impact Partners
Fine Structure Venture
Alumni Ventures
Khosla Ventures
Lowercarbon Capital
MCJ
Bossa Invest
Elemental Impact
About Nitricity
Nitricity is an Oakland-based producer of plant-based fertilizers derived from air-captured nitrogen. The company develops climate-smart alternatives to traditional synthetic fertilizers using renewable energy processes. Available at nitricity.co, its products aim to reduce emissions for farmers.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Nitricity Funding History
Nitricity has raised a total of $101M across 5 funding rounds.
Nitricity's first fundraising round was a $800K seed round in January 2021. The most recent completed round was a $64M Series B in September 2025.
Nitricity funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2025 | Series B | Alumni Ventures (lead); Khosla Ventures (lead); World Fund (lead); Susquehanna Sustainable Investments; Cultivate Next; Fine Structure Venture; Energy Impact Partners; Change Forces | $64M | Nitricity is a California-based climate-tech startup founded in 2018 by Stanford graduates Nicolas Pinkowski (CEO), Joshua McEnaney (President and CTO), and Jay Schwalbe (CSO), developing sustainable organic nitrogen fertilizers using air, water, renewable energy, and upcycled almond shells. Its flagship product, Ash Tea, reduces emissions by 92% compared to conventional fertilizers and addresses the 5% of global GHG emissions from nitrogen fertilizer production, while mitigating waterway toxicity and biodiversity loss. The company electrifies fertilizer production to enable regional, circular agriculture. On September 10, 2025, Nitricity closed a $50 million Series B funding round co-led by World Fund (its first U.S. investment) and Khosla Ventures, with participation from Alumni Ventures, Change Forces, Cultivate Next (Chipotle's fund), Energy Impact Partners, Fine Structure Ventures, and Susquehanna Sustainable Investments. An initial filing reported $62.6 million raised toward a $64 million offering on July 16, 2025. Proceeds will scale operations across the U.S. and into Europe, support hiring, R&D, and expansion using local waste like olive oil byproducts for high-value fruit markets and eventually row crops. This follows a $10 million project funding in March 2025 for its first commercial plant in Delhi, California. The Delhi facility groundbreaking occurred days after the announcement, set to begin operations in 2026 with 100x production capacity increase, fully sold out through 2028 via binding offtake agreements with local organic growers. Demand exceeds supply, positioning Nitricity for commercial scale amid growing European markets focused on resilience and circular economies. Earlier, a Fremont facility and Central Valley field trials were supported by 2022 investments from Elemental Impact. |
| Mar 2025 | Series A | Elemental Impact; PRIME Coalition | $10M | Nitricity Inc. develops an electrified process to produce organic nitrogen fertilizer using air, water, renewable energy, and waste biomass like recycled almond shells. The technology creates a cost-competitive, pathogen-free, odor-free product approved for organic farming by OMRI and CDFA OIM, with lower emissions than traditional Haber-Bosch ammonia-based fertilizers and reduced N2O post-application. The company operates a facility in Fremont, California, following successful field trials in the Central Valley. On March 4, 2025, Nitricity announced $10 million in project funding from providers including Elemental Impact and Trellis Climate (launched at PRIME Coalition) to build a first-of-a-kind organic fertilizer plant in Delhi, California. This funding, a mix of equity and non-dilutive project financing, supports a 100-fold production capacity increase, with full capacity sold out through 2028 via binding offtake agreements with local organic growers. The facility will create over 20 jobs in Merced County and transform agricultural waste into low-carbon nitrogen, strengthening the circular bioeconomy. Elemental Impact provided $2M via a Development-SAFE structure, catalyzing additional capital and representing 44% of the project stack. This FOAK plant builds on Nitricity's prior 2022 investment from Elemental Impact and precedes a separate $50M Series B round led by World Fund and Khosla Ventures. Elemental Impact also offers support in stakeholder engagement, policy, workforce development, and storytelling. |
| Jun 2022 | Series A | Fine Structure Venture (lead); Khosla Ventures (lead); Lowercarbon Capital; Energy Impact Partners; MCJ | $21M | Nitricity is an agtech startup revolutionizing nitrogen fertilizer production using renewable electricity, air, and water to create decentralized, low-emission fertilizers. The company raised $20 million in its Series A funding round announced on October 18, 2022, led by Khosla Ventures and Fine Structure Ventures, with participation from Energy Impact Partners, Lowercarbon Capital, and MCJ Collective. The funds aimed to bring their decarbonized fertilizer products to market within two years. Investors highlighted Nitricity's potential to address high GHG emissions, fossil fuel dependency, and supply disruptions in the fertilizer industry through its innovative approach. Nitricity later progressed significantly, raising a $50 million Series B round co-led by World Fund and Khosla Ventures, with participation from Chipotle’s Cultivate Next, Change Forces, Susquehanna Sustainable Investments, Energy Impact Partners, and Fine Structure Ventures. This funding supports scaling production of organic liquid nitrogen fertilizer Ash Tea from upcycled almond shells, expanding in the US and Europe, and building a commercial plant in Delhi, California, set for 2026 with capacity committed through 2028 via offtake agreements. The company operates a pilot plant in Fremont, California, producing 80 tons of fertilizer annually and targets the growing liquid organic nitrogen market estimated at $11 billion. |
| Aug 2021 | Seed | Energy Impact Partners (lead); Fine Structure Venture; Lowercarbon Capital; MCJ | $5M | Nitricity is a California-based startup developing electrified technology to produce nitrogen fertilizer from almond waste and other organic sources, offering a sustainable organic alternative to imported fertilizers. The company transforms agricultural waste into fertilizer using renewable power, reducing production and on-field emissions while supporting local growers. Around August 2021, Nitricity completed a Series Seed round raising $5.11 million. By May 2022, it raised $20.86 million in a Series A round. Energy Impact Partners (EIP) invested in Nitricity, aligning with their focus on clean energy transition innovations, though specific round details for December 2021 are not detailed. Nitricity has continued scaling, announcing later rounds including $50 million Series B in September 2025 co-led by World Fund and Khosla Ventures with participation from EIP and Fine Structure Ventures, and $10 million project funding in March 2025 from Elemental Impact and Trellis Climate for a first-of-a-kind organic fertilizer plant in Delhi, California. These funds support global expansion, hiring, R&D, and commercial-scale production starting in 2026. |
| Jan 2021 | Seed | Alumni Ventures; Bossa Invest | $800K | - |
Who has invested in Nitricity?
13 investors have backed Nitricity across its funding rounds, including Energy Impact Partners, Fine Structure Venture, Alumni Ventures, Khosla Ventures, Lowercarbon Capital and MCJ.
Lead investors include Alumni Ventures, Khosla Ventures, World Fund, Fine Structure Venture and Energy Impact Partners.
Nitricity Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Aug 2021 | ||
| 3 | Lead | Aug 2021 | ||
| 2 | Lead | Jun 2022 | ||
| 2 | Lead | Jan 2021 | ||
| 2 | Participant | Aug 2021 | ||
| 2 | Participant | Aug 2021 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Lead | Sep 2025 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Participant | Mar 2025 | ||
| 1 | Participant | Mar 2025 | ||
This data is available for Pro users. Sign up to see all 13 Nitricity investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialNitricity Competitors
Nitricity competitors include listed companies like CF Industries, Qinghai Salt Lake Industry, Industries Qatar and SABIC Agri-Nutrient, and private ones like Colossal Biosciences and Biobest.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $7.1B | $3.2B | $20B | 3.1x | ||
| Publicly listed | $2.3B | $1.2B | $20B | 4.5x | ||
| Publicly listed | $4.4B | $1.6B | $17B | 4.4x | ||
| Publicly listed | $3.5B | $1.4B | $16B | 4.1x | ||
| Private | - | - | $10B | - | ||
| Private | - | - | $1.5B | - |
Nitricity Public Comps
Nitricity is still privately-owned, but its public comps include CF Industries, Qinghai Salt Lake Industry, Industries Qatar, SABIC Agri-Nutrient, Zhejiang NHU, Fertiglobe, Cathay Biotech, PI Indus, K+S and Bloomage BioTechnology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $7.1B | $3.2B | 3.5x | 3.1x | 7.7x | 6.8x | |||
| $2.3B | $1.2B | 6.9x | 4.5x | 13.3x | 7.3x | |||
| $4.4B | $1.6B | 3.4x | 4.4x | 9.5x | 14.1x | |||
| $3.5B | $1.4B | 3.8x | 4.1x | 9.5x | 10.1x | |||
| $3.3B | $1.5B | 3.5x | 3.1x | 7.6x | 6.7x | |||
| $2.8B | $1B | 2.5x | 2.1x | 6.9x | 5.8x | |||
| $491M | $115M | 6.7x | 5.9x | 28.5x | 22.1x | |||
| $695M | $199M | 4.8x | 4.6x | 16.7x | 18.9x | |||
This data is available for Pro users. Sign up to see all Nitricity competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Nitricity
| When was Nitricity founded? | Nitricity was founded in 2018. |
| Where is Nitricity headquartered? | Nitricity is headquartered in San Francisco, CA, United States. |
| Is Nitricity publicly listed? | No, Nitricity is a private, VC-backed company. |
| How much funding has Nitricity raised? | Nitricity has raised $101M across 5 funding rounds. |
| What was Nitricity's last funding round? | Nitricity's last funding round was a $64M Series B in September 2025, led by Alumni Ventures, Khosla Ventures and World Fund. |
| Who are Nitricity's investors? | Nitricity's investors include Fine Structure Venture, Energy Impact Partners, Khosla Ventures, Alumni Ventures, Lowercarbon Capital, MCJ, Susquehanna Sustainable Investments, World Fund, Cultivate Next, Elemental Impact and 3 others. |
| Which companies are comparable to Nitricity? | Companies comparable to Nitricity include CF Industries, Qinghai Salt Lake Industry, Industries Qatar, SABIC Agri-Nutrient, Colossal Biosciences and Biobest. |
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