Herbert Smith Freehills Kramer advises PlasmaLeap Technologies on its A$30 million Series A Capital Raise

Herbert Smith Freehills Kramer’s (HSF Kramer) venture capital team has advised PlasmaLeap Technologies Pty Ltd on its A$30 million (approx. US$20 million) Series A capital raise, led by the Gates Foundation, Investible and Yara Growth Ventures, with participation from Twynam, GrainCorp Ventures, Uniseed/UniSuper, Artesian, Hort Innovation, GDRC, SVG Ventures and Agnition Ventures (part of Ravensdown).

The HSF Kramer team was led by partner and Co-Head of Australia Venture & Growth Capital Elizabeth Henderson, senior associate Adam Ong, solicitors James Webb and Elle Henriksen and graduate Isabelle Vrisakis. The team was supported by partners Tess Mierendorff and Toby Eggleston.

PlasmaLeap Technologies is an Australian company pioneering zero-emissions production of ammonia and nitric acid using renewable electricity, air and water. Its patented non-thermal plasma reactor technology enables decentralised fertiliser production and has broader applications in sustainable fuels and industrial chemicals.

The new capital will support first-of-a-kind fertiliser deployments in Australia, expand field trials, and accelerate development of PlasmaLeap’s core technology platform, including longer-term applications in eFuels and industrial decarbonisation.

Elizabeth Henderson said, “Congratulations to PlasmaLeap, its founders and management on this great achievement. We have enjoyed working with the company since its early days and look forward to watching it grow and achieve new successes.”

Adam Ong said, “It was great to be working again with Frere, PJ, Sam, Nick and the broader PlasmaLeap team on this transaction. On top of being great people, what the team is building is truly innovative and it is incredibly exciting to see where these finances can take them.”

“The backing of these strategic and institutional investors is strong validation of both the PlasmaLeap technology and the scale of the opportunity. We’re grateful to the team at HSF Kramer for their support throughout this process. Their advice and commitment have been invaluable, and their collaborative approach made this a true partnership as we reached this important milestone for PlasmaLeap and position the company for its next phase of growth,” said Frere Byrne, CEO & Co-founder of PlasmaLeap.

This deal is another example of HSF Kramer’s market-leading work in Australian venture capital raisings in the emerging and deep tech sector. Other recent examples include:

• Infravision on its A$140 million Series B capital raise
• Firmus Grid on its pre-IPO A$330 million equity raising
• Constantinople on its A$50 million Series A capital raise and A$32 million Series Seed capital raise 
• SafetyCulture on numerous capital raises and secondary sales including its A$165 million Series C3 capital raise
• Deputy Group on its A$111 million Series B capital raise and its strategic investments from Xero and Express Employment Professionals
• Culture Amp on its A$120 million Series E capital raise and A$135 million Series F capital raise and secondary sale