Volta Greentech, a Swedish startup supplying feed additives and emission-reduction services, has raised SEK 32 million (~USD 2.95 million), backed by Axel Johnson and KFS. This latest funding round brings the total funds raised by the firm to nearly SEK 100 million (~USD 9.21 million).
The funds will be utilized to develop and commercialize Lome, a low-cost and scalable feed supplement designed to reduce methane emissions from cattle farming. Lome claims to outperform algae-based products and can reduce methane emissions from cattle by up to 90%.
Analyst QuickTake: Cattle farming is the largest agricultural source of methane emissions, with each cow producing approximately 220 lbs of methane annually. Reducing cattle farming-related emissions is crucial to mitigate climate change, as agriculture accounts for about 10% of total greenhouse gas emissions in the US.
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.