NH3 Clean Energy Limited has completed a $4 million capital raise from new institutional investors to support the next stage of development for its flagship WAH2 clean ammonia project.

The funding will primarily be directed towards front-end engineering design (FEED) work and the continued progression of key project milestones as NH3 moves towards a final investment decision (FID). The company said the raise provides the financial capacity to maintain momentum across its in-house workstreams and to strengthen customer acquisition activities.

The WAH2 project is a cornerstone of NH3’s strategy to deliver low-carbon ammonia at scale, positioning the company to play a leading role in the global energy transition. The project aims to demonstrate the commercial and technical viability of clean ammonia production in Western Australia, with potential applications in fuel, power generation and industrial sectors.

According to NH3, the additional funding also enhances the company’s ability to execute under potential Build Own Operate models, providing flexibility in delivery while minimising risk during uncertain financial conditions.