What NeuRizer Ltd. does

NeuRizer Ltd (ASX: NRZ), headquartered in Adelaide, is an Australian public company developing the NeuRizer Urea Project (NRUP), an integrated granular urea fertiliser production facility at Leigh Creek, South Australia, 550 km north of Adelaide. The project is designed to initially produce 1 million tonnes per annum (Mtpa) of urea with expansion potential to 2Mtpa, and is positioned as Australia's first domestic producer of granular urea, ending the country's current 100% import dependence that is sourced from the Middle East, South East Asia and China. The wholly owned subsidiary Leigh Creek Operations Pty Ltd holds the underlying petroleum and gas exploration tenements feeding the production chain.

Technically, NRUP applies Underground Coal Gasification (UCG) to produce syngas that is richer in hydrogen than natural gas; the syngas is then processed through ammonia synthesis and urea granulation to yield white, round granular urea (2-4mm spheres) for both agricultural and industrial use cases. The company controls its own gas and CO2 inputs through the integrated model, and the project is a declared Major Project for South Australia with approved Environmental Impact Reports and Statements of Environmental Objectives in force. A Pre-Commercial Demonstration (PCD) has been completed, validating the process chain prior to scale-up.

Commercially, NeuRizer operates as a B2B enterprise selling urea fertiliser to Australian farmers and agricultural cooperatives (primary segment) and to industrial buyers (including AdBlue and industrial resin manufacturers, secondary segment), with management indicating intent to serve seaborne export markets in South East Asia. Customer-facing channels are direct enterprise sales supported by ASX-level investor relations, social media and digital advertising. Revenue is currently nil, with the company in construction and development prior to commissioning; non-urea revenue optionality is anchored by a hydrogen joint venture with Meijin Energy Investments in China (announced June 2023) and a technology transfer plus equipment purchase arrangement with Reliance Industries Limited (announced March 2026).

Name

NeuRizer Ltd.

Legal name

NeuRizer Ltd

Website

https://neurizer.com.au

Company type

Public

Founded year

2022

Operating status

Operating

Short description

NeuRizer Ltd is an Adelaide-based, ASX-listed company developing Australia's first domestic granular urea fertiliser facility (NRUP) at Leigh Creek, South Australia, using Underground Coal Gasification to produce 1Mtpa (expandable to 2Mtpa) of urea for Australian farmers and industrial buyers.

Ownership category

akta.pro rank

Product category

Agricultural Fertiliser Manufacturing

NAICS

Nitrogenous Fertilizer Manufacturing (325311), Underground Coal Mining (212115)

SIC

Bituminous Coal & Lignite Mining (1220)

akta.pro primary industry

Nitrogen Fertilizers (Ammonia/Urea/UAN) (IMAEAEAA)

Keywords

• Urea fertiliser production
• Underground coal gasification
• Agricultural chemicals manufacturing
• Domestic fertiliser supply
• Industrial chemicals production

Headquarters

HQ city

Adelaide

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Urea Fertiliser Sales: NeuRizer will generate revenue from the sale of granular urea fertiliser produced at the NRUP facility. The company aims to supply the Australian agricultural market (currently 100% import-dependent) and export markets. Urea is sold as a commodity to farmers, agricultural cooperatives, and industrial users (e.g., AdBlue, industrial resins). The integrated production model provides cost control advantages.
2. Hydrogen Joint Venture: NeuRizer has established a hydrogen joint venture with Meijin Energy Investments in China, potentially diversifying revenue streams beyond urea production.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

NeuRizer Ltd is developing the NeuRizer Urea Project (NRUP), an integrated urea fertiliser manufacturing facility at Leigh Creek in northern South Australia. The company uses Underground Coal Gasification (UCG) to produce syngas from coal deposits, which is converted to hydrogen, then combined with nitrogen to produce ammonia, and finally reacted with CO2 and granulated into granular urea fertiliser. Initial capacity is designed for 1 million tonnes per annum (Mtpa), scalable to 2Mtpa, supplying Australian agricultural and industrial markets as the country's first domestic granular urea producer.

Product overview

NeuRizer Ltd operates as a single-product-focused company centred on the NeuRizer Urea Project (NRUP), a major fertiliser manufacturing initiative. NRUP is designed as an integrated urea production facility at Leigh Creek in South Australia, initially producing 1 Mtpa of granular urea fertiliser with expansion potential to 2 Mtpa. The company controls its own gas and CO₂ inputs through related petroleum tenements, securing supply and cost regardless of market conditions. The project is a declared Major Project for South Australia and represents Australia's first domestic granular urea production capability, ending the country's 100% import reliance. The company also produces industrial-grade urea for applications such as diesel additive (AdBlue) and industrial resins.

Differentiator

Problem solved

Functional benefit

Products and services

• NeuRizer Urea Project (NRUP) Integrated urea fertiliser manufacturing facility located in northern South Australia at Leigh Creek, designed to initially produce 1 million tonnes per year (Mtpa) of granular urea with potential to scale to 2 Mtpa. Uses Underground Coal Gasification (UCG) technology to convert coal deposits into syngas, which is processed into hydrogen, ammonia, and finally granular urea. Will be Australia's first domestic granular urea producer, replacing 100% import dependence.
• Granular Urea Fertiliser Nitrogen-based fertiliser produced at NRUP, containing 46% nitrogen (1 tonne of urea contains 460 kilograms of nitrogen). Used to replace nutrients in soil and improve crop production for Australian farmers, and as an industrial input for AdBlue (diesel additive) manufacturers and industrial resin producers.

Quantifiable outcome

• Australia's first domestic urea producer, replacing 100% import reliance
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered flagship, core and minor.

• Reliance Industries LimitedflagshipTechnology or Integration · 14 March 2026Reliance Industries signed technology transfer and equipment purchase agreements with NeuRizer for the urea plant project at Leigh Creek. The agreements cover equipment sale and technical support, funding NRUP's next phase. Letters of Award have been signed for technology transfer and plant sale.
• Meijin Energy InvestmentscoreStrategic or Co-development Partner · 7 June 2023NeuRizer announced a Hydrogen Joint Venture with Meijin Energy Investments. Executive Chairman Justyn Peters discussed the deal in a shareholder update, highlighting the opportunity in China, the global importance of the deal, and how it fits the NRZ business model.
• South Australian GovernmentcoreStrategic or Co-development PartnerInfrastructure Utilisation Licence Agreement executed with the South Australian Government for exclusive use of existing infrastructure at the Leigh Creek site. This includes administration buildings (approx. 1,040m2), major warehouse (approx. 3,120m2), maintenance warehouse, drill/blast shed, storage sheds, equipment wash facility, and groundwater monitoring wells. The agreement enables significant efficiencies and cost savings.
• DL E&C Co. LtdminorStrategic or Co-development PartnerSunghun Ryu, Vice President of Strategy & Planning at DL E&C Co. Ltd's Plant Business Division, serves on NeuRizer's Board. Mr Ryu has extensive experience at DL E&C, McKinsey & Company, and Daewoo Engineering, currently overseeing Strategy & Planning, New Business Development and investment projects.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• OCI Global: Dutch-listed global nitrogen and methanol producer; comparable in merchant urea economics, project development capability and capital-markets profile of mid-cap nitrogen producers.
• ICL Group: Israel-based specialty fertilizer producer with a global nitrogen footprint; relevant comparable for specialty/industrial-grade urea derivatives including AdBlue and resin inputs.
• Yara International: Global nitrogen leader producing urea, ammonia and AdBlue/DEF at scale; comparable as a benchmark for global urea economics, integrated production economics and AdBlue industrial off-take that NeuRizer is targeting.
• CF Industries: North America's largest nitrogen producer with a globally traded urea franchise; comparable cost-curve benchmarking and seaborne urea pricing dynamics relevant to an Australian merchant urea project.
• Nutrien: World's largest fertilizer producer and retailer with significant nitrogen capacity; comparable distribution reach, ag-retail customer base and global urea benchmarks relevant to NeuRizer's go-to-market model.
• Koch Ag & Energy Solutions (Koch Fertilizer): Privately held global nitrogen producer and trader; relevant comparable for global urea marketing, distribution and seaborne trading economics NeuRizer will face as a domestic entrant.

Regional players

• SABIC: Saudi Arabian petrochemicals and nitrogen fertilizer producer with low-cost gas feedstock; a key marginal seaborne supplier into Australia and the primary benchmark for import parity pricing into NeuRizer's target market.

Others

• Reliance Industries: Indian conglomerate and one of the world's largest urea operators; an active technology-transfer and equipment partner to NeuRizer rather than a direct competitor — relevant for benchmarking technology, EPC and project execution.

Direct peers

• Incitec Pivot: Australia's largest fertilizer manufacturer and distributor (Dyno Nobel, Incitec Pivot Fertilisers), directly comparable as a domestic nitrogen fertilizer supplier to Australian agriculture and industry.
• CSBP (Wesfarmers Chemicals, Energy & Fertilisers): Western Australia-based manufacturer of nitrogen fertilizers including urea and ammonia, serving Australian agriculture — the closest Australian analog to NeuRizer's domestic urea thesis.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NeuRizer Ltd.