🇸🇪 Agteria Biotech raises €6 million to accelerate development of novel methane-reducing products for cattle
Agteria Biotech, a Swedish start-up dedicated to reducing 1% of the global greenhouse gas emissions, has raised €6 million in a seed round co-led by Industrifonden and AgriZeroNZ, with continued support from existing investors Norrsken Launcher and Mudcake.
Methane, 28 times more potent than carbon dioxide and responsible for 30% of the current rise in global temperatures, has become a critical climate priority. The strong interest in Agteria’s recent fundraising round highlights the growing awareness and urgency to tackle methane emissions, particularly from agriculture as methane emissions from cattle accounts for 5% of global greenhouse gas emissions. The new funding will enable the company to advance toward regulatory approval for its novel methane-reducing products for cattle, focusing on essential safety studies for animals, consumers, and the environment.
“Our goal from the start has been to create a solution that is not only effective but also scalable, affordable, and, above all, safe,” said Martin Blomberg, CEO of Agteria. “Methane levels in the atmosphere have never been higher, in 2024 global temperatures surpassed 1.5 degrees for the first time, and reducing methane is the most impactful short-term action we can take to combat warming. Together with our new investors, combining deep-tech experience and strong market knowledge we are ready to accelerate this critical work.”
Founded in 2023, Agteria has developed a patent-pending molecule that significantly reduces methane emissions from cattle. The solution is scalable, low-cost, and offers the highest methane reduction per euro. The company’s solution has already demonstrated high efficacy in several in-vivo trials, and has attracted strong interest from both beef and dairy companies as well as animal feed companies.
“Agteria’s commerical progress in a short time is remarkable, driven by a small, highly ambitious, and energetic team. We’re excited to support their journey as they bring a unique, scalable, science-backed innovation platform with the potential to significantly reduce agricultural greenhouse gas emission.” said Mala Valroy, Investment Manager at Industrifonden.
“We’re actively scanning the world for innovative ventures to invest in to help farmers reduce emissions. We’re proud to back Agteria to accelerate the development of a practical, effective solution suitable for grazing systems in New Zealand and around the world,” said Wayne McNee, Chief Executive at AgriZeroNZ.
Originally published on 12 February by Industrifonden.
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