Participated · Equity · Jan 2023

N2 Applied builds an on‑farm plasma treatment system (the N2 Unit) that eliminates ammonia and methane from slurry while doubling the amount of plant‑available nitrogen. The processed slurry becomes a nitrogen‑enriched fertilizer that, in independently verified trials, delivered 27% higher nitrogen utilization by crops versus chemical ammonium nitrate. The hardware is designed for installation on farms and the company has licensed production to fertilizer manufacturer GEA, with manufacturing set to commence at GEA’s German factory. Units are slated to be available for installation before the end of the year, initially targeting the UK, Scandinavia and Western Europe and later the US and Canada. N2 Applied is exploring medium‑ and long‑term applications beyond dairy and beef, including pork, aquaculture (fish‑farm sludge) and biogas slurries, and plans to work with partners to optimize those concepts. Financially, the company recently received a €10m cash injection and has raised €34m (€36.8m) in equity to date. N2 Applied produces a machine—about the size of a tractor—that feeds livestock slurry and uses high-voltage plasma to draw nitrogen from the air, enhancing slurry and ‘locking in’ methane and ammonia. The process reduces greenhouse gas emissions, suppresses ammonia leakage and odors, and can improve crop yields while reducing reliance on chemical nitrogen fertilizers. The company has run trials and pilot projects across nine countries and reported strong results, including a EU-funded Arla farm trial showing an average 90% reduction in ammonia emissions over a week versus untreated slurry. N2 says treated material also improved nitrogen use efficiency in those tests. The firm is seeing growing interest in Scandinavia, the UK and the US and is seeking commercial partners to support rollout. Management plans another funding round next year to scale commercialization.