French dairy massive Danone has taken phase in a US$7m Collection A investment spherical for Symbrosia, a US company at the back of a seaweed-based feed product mentioned to dramatically scale back cattle methane emissions.
The Alpro and Activia maker invested within the start-up via its enterprise fund arm Danone Manifesto Ventures.
Hawaii-based Symbrosia manufactures seaweed feed additive SeaGraze which it says reduces methane emissions from livestock – a big contributor to international warming – through greater than 80%.
The corporate mentioned it’s going to use the cash raised to scale manufacturing of its seaweed lines and produce SeaGraze to marketplace.
It additionally plans to construct a bigger manufacturing facility to proceed the scale-up.
Founder and CEO Alexia Akbay mentioned, “All over the previous two years of analysis, we driven the bounds in seaweed breeding to broaden high-performing seaweed lines. This Collection A investment spherical marks a crucial inflection level the place we shift our focal point to bringing this innovation to marketplace at scale, as temporarily as conceivable, with strategic companions in Hawaii, California, and the Pacific Northwest.
“The beef up from Danone Manifesto Ventures and our different buyers, present and new, will allow us to extend seaweed manufacturing through an element of one,000, spherical out our group experience with strategic hires and put SeaGraze within the palms of visionary firms and cattle manufacturers to create the arena’s maximum sustainable cattle provide chains.”
Jean Prevot, vp, operations and sustainability at Danone Manifesto Ventures, mentioned: “We’re extremely joyful to be partnering with Alexia and the Symbrosia group. We’re inspired through the pressure and keenness they’ve to meaningfully cope with local weather alternate throughout the discount of cattle methane emissions.”
Symbrosia finished the arena’s first industrial A. taxiformis trial in 2020, checking out SeaGraze on an natural farm in Dover Plains, New York, the place it “showed drastic methane discount”.
Further buyers within the investment spherical come with earlier seed buyers, Pacific6 and HATCH, new investor Presidio Ventures, and new Hawaiian buyers, Kamehameha Faculties and Mana Up.
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