Talus Renewables Announces $22 Million Raised in Series A Financing
First-to-Market Commercial Modular Green Ammonia System Attracts Leading Early-Stage Agriculture, Energy & Tech Investors
NEW YORK, Nov. 2, 2023 /PRNewswire/ -- Talus Renewables ("Talus"), a renewable energy infrastructure company and creator of the first modular green ammonia system deployed commercially, announced its $22 million Series A financing co-led by Material Impact and Xora Innovation, a deep tech early-stage investment platform of Temasek; joined by Cavallo Ventures, the VC arm of Wilbur-Ellis, and Rice Investment Group.
With this funding, Talus will ramp up production of its green ammonia technology, using water, air, and renewable power to revolutionize production of fertilizer, and enable on-site operations that significantly reduce the carbon footprint of historically difficult-to-decarbonize industries.
Talus's systems' ability to generate lower-cost, carbon-free ammonia at or near the point of use reduces or eliminates supply chain length for agriculture, mining, and industrials, with additional applications in maritime shipping, renewable energy storage, and power generation.
Talus will deliver multiple talusOne (up to 1.4 tonnes of green ammonia daily) and talusTen (up to 20 tonnes) systems beginning later this year in US and European markets. The first talusOne was installed in partnership with the Kenya Nut Company in the Kenya Highlands.
"We are gratified by our investors' confidence in our ability to provide a more sustainable, cost-effective, and secure path forward for critical industries," said Hiro Iwanaga, Co-Founder and CEO of Talus Renewables. "The promise of rapidly deployable, modular, autonomous green ammonia systems will extend far beyond agriculture to industrial and renewable energy applications."
"Through the long-term vision that Talus has for a prosperous global economy backed by renewables, their first vertical application of creating green ammonia in situ will make a great impact in increasing the food supply chain sustainably and cost effectively," said Adam Sharkawy, Founding Partner of Material Impact. "Material Impact, which focuses on high tech scientific and engineering advances to solve large global problems, is excited to invest in Talus and support its capacity to be a clean energy game-changer."
"Xora Innovation specializes in supporting ventures tackling some of the world's greatest challenges through the commercialization of disruptive technologies and Talus Renewables embodies this investment thesis," said Phil Inagaki, Managing Director of Xora Innovation. "One of the distinguishing features of Talus is their speed of execution. While most companies in the green ammonia space are still in the product development or project planning phase, Talus has already begun delivering systems to customers and is poised for rapid growth."
"We're excited that Talus is helping transform our industry into a cleaner, more sustainable enterprise," said Brett Morris, Managing Director at Cavallo Ventures. "Talus's systems have the potential to remove an element of unpredictability by enabling local production of fertilizer, lowering costs for farmers while reducing their carbon footprint."
About Talus Renewables:
Talus Renewables pioneered the first commercial, modular, zero-carbon green ammonia system that makes the production and distribution of a critical raw material cheaper, cleaner, and more reliable. Talus locally produces lower-cost, carbon-free ammonia at or near the point of use, creating value for multiple industries. The talusOne and talusTen operate on intermittent renewable power and are fully containerized and modular, enabling rapid deployments and scaling. TalusAg, a subsidiary of Talus Renewables, focuses on green ammonia production for the agriculture sector. https://www.talusag.com/.
Contact: Liz Benjamin, [email protected], 518-424-0356
SOURCE Talus Renewables
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