STOCKHOLM, Sweden, July 16, 2024. Swedish research-based startup AmmoniQ Solutions AB has been awarded a grant from the Swedish Energy Agency to spearhead a business conceptualisation project about their groundbreaking green ammonia production invention. The envisioned modular solution has the potential to revolutionise on-demand ammonia production and the way farms manage their energy and ammonia supply, which may lead to significant cost savings, independence on imports from geopolitically unstable countries, and reduced carbon footprint.
Myrtleed Innovation AB, a specialised firm in the commercialisation of research and new hardware technologies, based in Stockholm, Sweden, will collaborate with AmmoniQ on this initiative and support in the creation of an initial business plan that will help kickstart AmmoniQ’s business operations.
"Our envisioned solution may disrupt agricultural practices by providing a sustainable, cost-effective, and an on-demand ammonia source," says Tommi Remonen, CEO of AmmoniQ. "Our partnership with Myrtleed Innovation is crucial to help us understand the target markets and accelerate the industrialisation of our green ammonia technology."
Key aspects of the project that Myrtleed Innovation will spearhead include:
Market Research: Myrtleed Innovation will be conducting extensive market research to understand the demand and potential adoption rates of the new ammonia technology, through activities such as industry dialogues, desktop research, analysis, and assessment.
Business Strategy Evaluation: Through the assessment of the needs and requirements within the agricultural sector, and other markets, Myrtleed Innovation will develop a business plan, based on the insights from the most promising market(s), including strategic recommendations such as go-to-market strategy and business growth opportunities.
"We are thrilled to collaborate with AmmoniQ on this exciting project," says Torkel Nord Bjärneman, CEO of Myrtleed Innovation. "AmmoniQ’s aim aligns perfectly with Myrtleed's mission to help commercialise cutting-edge technologies envisioned to have a positive impact on our society and the environment. AmmoniQ, and their invention, is a great addition to our client- and technology portfolio, and we are looking forward to helping them understand how the technology can bring value to the agricultural sector and beyond."
In addition to the market research and the business strategy development, a techno- economic analysis and financial analysis will also be conducted in the project. These activities will be led by Mårten Edwards from AmmoniQ, who also will also serve as the project manager. “The key concepts of the chemical technology are truly innovative, and the results in lab scale are very promising,” says Mårten. “I am happy for the opportunity of joining this exciting project, which is very timely as AmmoniQ is about to set up the first pilot.”
The Swedish Energy Agency’s support underscores the importance of advancing sustainable agricultural practices and the potential of innovative technologies to drive significant environmental and economic benefits.
About AmmoniQ Solutions AB:
AmmoniQ Solutions AB, based in Uppsala, Sweden, is developing innovative solutions for electrochemical production of ammonia from nitrogen and water using green electricity. With our first process design, we target primarily the agricultural sector; however, the technology is also highly promising for other industrial sectors and applications. A first pilot is currently being setup. During 2024, we aim at verifying the technology in pilot scale, identify key markets, and define a solid business plan towards scale-up and market launch. For more information, visit www.ammoniq.com (will be launched soon) or our LinkedIn page www.linkedin.com/company/ammoniq.
About Myrtleed Innovation AB:
Myrtleed Innovation AB, based in Stockholm, Sweden, specialises in the commercialisation of research and disruptive technologies (deep tech) with the aim to create meaningful impact through science. With a strong focus on sustainable energy technologies, advanced materials, and disruptive hardware technologies, Myrtleed Innovation supports their clients by providing hands-on business services such as market evaluations, business development, fundraising, and venture building. For more information, visit www.myrtleedinnovation.com.
For further information, please contact:
Tommi Remonen
CEO, AmmoniQ Solutions AB