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Exclusive: Modular green ammonia firm launches capital raise

A modular green ammonia firm has hired a boutique investment bank and has launched a roughly $150m capital raise.

Talus Renewables, a developer of modular green ammonia projects, has hired a boutique investment bank and has launched a capital raise.

The company has hired GLC Advisors as sellside advisor, according to sources familiar with the matter, and launched the capital raise this month, which seeks to raise $50m of equity and an additional $100m of financing.

CEO Hiro Iwanaga told ReSource last year that the company was gearing up for a Series B capital raise, including initiating talks with potential advisors.

Talus offers containerized systems that produce green ammonia from power, water, and air, in the form of the TalusOne (up to 1.4 tonnes of green ammonia daily) and talusTen (up to 20 tonnes per day).

The company delivered its first system to Kenya Nut Company, a multinational agricultural firm in east Africa, under a 15-year fixed-price ammonia offtake agreement, Iwanaga said in the interview. As of November, the company had a pipeline of approximately $1bn of indicated interest for ammonia from potential customers, which included large farms and mining companies in several global jurisdictions, including the US.

It recently completed a $22m Series A fundraising that would fund the delivery of the next three to four systems before the end of the year, Iwanaga said, stretching Talus’ footprint to Europe and the US, with one more system heading to South America.

The company is deploying to large farms and mining companies, where ammonia is used as a blasting agent. In the US, the company has partnered with agribusiness Wilbur-Ellis and farmer-owned cooperative Landus, Iwanaga said.

Iwanaga and GLC did not respond to requests for comment about the recently launched capital raise.

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