HENDERSON, Nev.--(BUSINESS WIRE)--CH4 Global, a pioneer in utilizing seaweed to drastically reduce ruminant methane emissions, today announced that it has raised US$13 million in Series A funding led by DCVC and DCVC Bio with participation from several other investors with a strong interest in climate change.
Today the 1.5 billion cows on the planet produce more than 150 million tons of methane per year. This is the largest single source of methane globally, and the UN cites methane as 86 times more impactful than CO2 on global warming over the next 20 years. At more than 12.9 billion tons CO2-e per year (at an average of 100 kg methane/cow), this is a larger GHG output than from the US, the EU, and India combined. CH4 Global has established a leadership position in the development and commercialization of a unique red seaweed (Asparagopsis) which, when added to cattle feed, drastically reduces the animals’ methane emissions by up to 90% as well as improving feed conversion. In addition, Asparagopsis seaweed farming (aka aquaculture) helps to reverse the growing levels of excess CO2 in the oceans and reduce ocean acidification, thus reinvigorate local marine life.
“The team at CH4 Global is building an extraordinary company and its mission is critically important to dramatically reduce methane from ruminants now and through the coming decade. The company’s strong sense of urgency aligns with recent reports that action in the next ten years is critical for the climate crisis,” said John Hamer PhD, Partner at DCVC Bio, who has joined the CH4 Global board of directors.
Further underscoring the opportunity and impact, the recent May 2021 United Nations report stated that “methane is the single biggest lever for climate change impact in the next 25 years”. In addition, the recent IPCC 6th report has changed the global conversation on the role of anthropogenic methane in climate change.
Zachary Bogue, Partner at DCVC, will also join the company’s board and added, “The role of reducing anthropogenic methane in this current decade, globally, is pivotal for the world to reduce emissions sufficiently to meet 2030 GHG reduction targets, and we are excited to partner with CH4 Global as the recognized leader in this journey. The fact that CH4 have farmers at the center of their strategy will be a critical element as they commercialize.”
Founded in 2019, GH4 Global has made progress over the last two years in passing proof of concept and scaling toward full commercialization. With offices in the US, Australia and New Zealand, the company will use this new funding to establish a new research and production facility in Adelaide, South Australia and bring its first commercial product to market in 2022. The company will also focus on supply chain optimization to develop reliable, repeatable manufacturing capabilities to scale production in 2023 and beyond. This work is fueled by the company’s sense of urgency that we must act quickly if we are to be able to avoid a climate tipping point.
“What we've developed at CH4 Global is the hatchery, aquaculture, processing and formulation capability for Asparagopsis to reduce the methane output of those 1.5 billion cows,” said Steve Meller, PhD, co-founder and CEO, CH4 Global. “We are formulating our unique feed supplement products to meet the specific needs of each cattle market segment including for feedlot operations, dairies, as well as for remote and generally unattended cattle around the world. Our initial focus is Australia and New Zealand, the native home of Asparagopsis, as we plan to have our first product ready for market in 2022 from our market demonstration facility in Adelaide Australia.”
About DCVC and DCVC Bio
DCVC backs entrepreneurs using Deep Tech to solve problems and multiply the benefits of capitalism for everyone while reducing its cost. For more information visit DCVC.
DCVC Bio is a venture capital fund that invests in early-stage life science companies driven by deep-tech approaches. For more information visit DCVC Bio.
About CH4 Global
CH4 Global is an aquaculture solutions provider dedicated to urgently impacting climate change. Led by a world-class team of senior business builders, scientists and entrepreneurs, the company is initially leveraging proven science and technology for growing seaweed into innovative new livestock supplement that reduces methane produced by cows by up to 90%. CH4 Global is a Delaware corporation based in Hederson, NV. For more information, please visit us at CH4 Global.