The Methane Revelation
Agteria Biotech, a Stockholm-based biotech startup specializing in reducing methane emissions from livestock, has secured €1.4M in pre-seed funding led by Norrsken Launcher. The investment will be channeled towards developing scalable, cost-effective solutions to address the challenge of cattle methane emissions, which account for approximately 10% of global greenhouse gases.
Agteria Biotech, a promising startup selected to participate in the Sustainability InnoCenter’s Baltic Acceleration program, secures a significant €1.4 million investment from Norrsken Launcher. This funding will empower Agteria Biotech in its mission to combat livestock methane emissions, marking a crucial step forward in addressing this pressing environmental challenge.
Research unveiled a surprising truth: Methane, a greenhouse gas 80 times more potent than CO2 and present in our atmosphere for just around 15 years, emerged as the most impactful greenhouse gas to target for reducing global temperatures. The largest source of methane? The agricultural industry, particularly from cows’ burps and farts. Yet, existing solutions for reducing these emissions were either inefficient or prohibitively expensive.
Despite various attempts to mitigate these emissions, including the use of red seaweed, scalability and cost have remained significant barriers. Agteria Biotech, co-founded by Martin Blomberg and Tommi Remonen, is breaking through these limitations with a unique enzyme-blocking molecule that promises an effective, affordable, and scalable solution.
Pioneering a Scalable Solution for Climate Change
Agteria’s innovative approach involves a patent-pending feed additive, nearly 100 times more affordable than red seaweed, and is founded on research from the Royal Institute of Technology (KTH) in Stockholm. The company is collaborating with world-class universities and regulatory authorities to validate the efficacy and safety of its product.
“We’re already in dialogue with several of the largest players in the world and have secured LOIs with some of the biggest ones in Europe,” said Martin Blomberg, Founder and CEO of Agteria. The company aims for commercial sales by 2026, with ongoing in-vivo studies and production scaling efforts.
Norrsken Launcher’s Support for Transformative Innovations
Norrsken Launcher, known for working with researchers and scientists to industrialize, commercialize, and scale innovations, sees Agteria Biotech as a company with realistic potential to reduce one percent of global greenhouse gas emissions. “Agteria could reduce emissions by an amount equivalent to nearly half of the entire global flight emissions,” remarked Erik Engellau-Nilsson, Managing Partner at Norrsken Launcher.
With the backing of Norrsken Launcher and other investors, Agteria Biotech is poised to make a significant impact on climate change by offering a scalable solution to reduce methane emissions from livestock, contributing to a more sustainable future.
Source : FoundersToday