Breakthrough Energy Ventures (BEV), an investment vehicle founded by Bill Gates, has led the latest round of financing for the Australian company Rumin8, focused on reducing methane gas emissions from livestock.
The ‘startup’ has carried out an initial round of Phase 2 financing, led by Gates’ firm together with the agri-food company Harvest Road Group, raising US$12 million (€11 million) to spend on commercial trials of its additives for eliminate methane in Australia, New Zealand, Brazil and the United States.
In this way, the funds raised by Rumin8 between both initial rounds totaled about 25 million Australian dollars (€16 million), the company indicated.
Rumin8 is an Australian climate technology company designing solutions to radically reduce methane emissions from agriculture, including identifying natural compounds with antimethanogenic properties to reproduce them in a highly efficient, low-cost, scalable, high-quality process for feed. livestock and thus reduce their emissions.
“The demand for sustainable protein has never been more evident, which is why BEV is very interested in reducing methane emissions from meat and dairy,” said Carmichael Roberts, BEV representative.