Articles from Addis Energy

Addis Energy, a company harnessing the Earth’s potential for affordable, abundant ammonia production, today announced it has raised $8.3 million in an oversubscribed seed round, bringing the company’s total funding to date to $17.3 million. The round was led by At One Ventures, with existing investors Engine Ventures and Pillar VC also participating. Addis Energy will use the fresh capital to further advance its AI-aided laboratory of chemical reactors that simulate subsurface conditions to produce ammonia at a cost advantage versus Haber-Bosch through a net energy-positive process. The company will also use the capital to expand its operations team and prepare for its first field pilot demonstration.

Addis Energy today introduced its technology platform, which harnesses the Earth’s chemical and thermal potential for clean ammonia production at low cost through a net energy-positive process. The platform unlocks energy abundance and affordability by combining next-generation chemical innovation with legacy expertise from the oil and gas industry, and will create new economic opportunities for domestic energy production with zero emissions. Addis Energy has raised $8.75 million total to date: $4.5 million from ARPA-E through its Vision OPEN program and $4.25 million in pre-seed funding from Engine Ventures, Pillar VC and Voyager Ventures. This month, the company’s co-founder Dr. Iwnetim Abate published a paper in the peer-reviewed scientific journal Joule outlining how ammonia can be produced directly from iron-rich rocks using only the injection of nitrate-source water into the Earth’s subsurface. The novel process leverages established oil and gas drilling techniques to access subsurface heat and pressure, offering a low carbon intensity alternative to conventional ammonia synthesis at cost parity.