Nottingham-based agtech group NZN – short for NetZeroNitrogen – has secured a $6.6m (£4.8m) seed investment to fuel its mission to reduce reliance on harmful fertilisers.
Founded in 2022, NZN is developing a biofertiliser that uses endophytic bacteria to replace the agricultural industry’s reliance on synthetic nitrogen fertilisers, a commonly used product that has been found to both damage soil health and increase greenhouse gas emissions.
Not only does the startup claim its product is more environmentally sustainable than synthetic nitrogen fertilisers but can also increase yields without added costs.
“Most alternatives come with a green premium but this is effectively a green discount – we’re greener and cheaper at the same time,” said Justin Hughes, co-founder and chief executive of NZN.
“The time is absolutely ripe for our product: the dependency on SNF is unsustainable. We’re taking on a challenge with global consequences.”
The round came from a handful of climate-focused investors. World Fund and Azolla Ventures co-led the round. Other backers include Zero Carbon Capital, Revent and Kibo Invest.
“Widespread use of urea, ammonium and nitrate-based fertilisers is one of the world’s largest sources of greenhouse gas emissions, and it is leaving soil microbiomes in a dire state across the world,” said World Fund principal Dr Nadine Geiser.
“NZN offers the ideal solution. This exciting biotech company faces no regulatory barriers to immediate adoption, and it has a powerful founding team with the perfect combination of scientific and entrepreneurial expertise to succeed.”
The seed investment has brought the total amount of funding raised by the company to $8.3m (£6m).
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