Atmonia raised money from Eyrir Invest

Atmonia, a Reykjavík, Iceland-based company manufacturing an innovative fertilizer for agriculture, announced securing capital investment from Eyrir Invest.

The funding was made via a convertible bond for around ISK 40 million ($310k).

Örn Valdimarsson, managing director of Eyrir Invest's investments, and Viktoría Valdimarsdóttir, one of the founders of Responsible Solutions, joined the board of the company.

Atmonia, founded in 2016 and led by CEO Guðbjörg Rist, develops a small-sized washing machine that takes in air, water and electricity and produces nitrogen fertilizers. The product helps farmers to produce their own nitrogen fertilizer and reduce their carbon footprint along the way.

At the end of 2018, Egill was Atmonia's largest shareholder with more than half its share, according to the annual accounts of the start-up company. Other shareholders include Helga Dögg Flosadóttir.