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Volta Greentech raises USD 2.95 million in funding to commercialize feed additives
Livestock Biotech
May 13, 2024
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Livestock Biotech

Livestock Biotech

May 13, 2024

Volta Greentech raises USD 2.95 million in funding to commercialize feed additives

Funding

  • 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.

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