Chipotle Mexican Grill (NYSE: CMG) is investing in Nitricity, a San Francisco, California-based company seeking to tackle greenhouse gas emissions by creating fertilizer products that are better for fields, farmers, and the environment.
The minority investment is being made through Chipotle’s $50 million Cultivate Next venture fund, which makes early-stage investments into strategically aligned companies that further Chipotle’s mission to Cultivate a Better World and help accelerate the company’s growth plans.
Led by Nico Pinkowski, co-founder and CEO, Nitricity leverages air, water, and renewable energy from artificial lightning to produce a cleaner, more sustainable, and cost-efficient fertilizer.
Funding from Cultivate Next will be used to scale up Nitricity’s production of nitrogen, build out the company’s infrastructure, and support the launch of its first commercial product within the next two years. The company has started field trials for their fertilizer product with Salinas Valley farmers, including Chipotle suppliers in the region.
FinSMEs
18/12/2023