Volta Greentech, a Gothenburg-based BioTech startup tackling global warming by reducing methane emissions from cows, has raised nearly €1.7 million (18 million SEK) to support the market launch of its methane-reducing cow feed additive, Lome.
With this round led by Axel Johnson, the company has now raised more than €9.5M (100 million SEK) since its inception.
“With Axel Johnson as lead investor in this funding round, we strengthen both our financial foundation and our industrial partnerships as we prepare to bring Lome to market. This investment allows us to accelerate the transition from scientific development to real-world impact, enabling farmers with great tools to battle global warming,” declared Fredrik Åkerman, CEO of Volta Greentech.
Founded in 2019, Volta Greentech develops feed additives that gently suppress methane-producing microbes in the rumen, reducing emissions at their source while preserving valuable feed energy.
According to the company, these innovations in animal science seek to improve modern farming by tackling one of agriculture’s hugegest climate issues. They assist farmers contribute to emission reductions, offering a cost per tonne of CO2 reduced that is highly competitive across industries.
Volta Greentech states that Lome marks a new stage in its product development. The company explains that by shifting from large-scale algae cultivation to mimicking the specific methane-reducing characteristics of algae, it has created a product that is more accurate and reliable. It asserts that Lome offers a more resource-efficient and scalable production process than the challenges encountered when expanding algae cultivation.
The startup is in the final stages of preparing the regulatory application for the EU to facilitate a wide market launch throughout Europe.
“Lome works in harmony with the cow’s rumen and its natural processes, reducing the unwanted ‘energy leakage’ cautilized by methane production. It fits seamlessly into existing farm routines, requiring no modifys to established feeding systems. With a steadrapid focus on animal welfare, research displays that Lome can ensure more efficient feed utilisation, creating the potential for improved productivity and weight gain, creating it a strong fit for modern farming operations,” the company mentioned in the press release.
With the fresh capital, the company plans to support continued R&D as well as the upcoming market launch of Lome.
“Methane emissions from livestock are one of the most significant and challenging issues facing the food system today. Volta Greentech combines strong scientific capabilities with a clear understanding of business, and we see great potential in their ability to translate research into scalable solutions,” declared Carl Dalerstedt at Axel Johnson’s investment vehicle Novax.
Its customers and partners include Coop Sverige, Axfood, Martin & Servera, Sodexo, Protos, Gäsene Mejeri, and Orkla.
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