Key Takeaways:
- Innovative Solution: Introduction of Lome™ (gen2) by Volta Greentech, which claims to reduce the cost of GHG reductions tenfold.
- Significant Investments: Accumulated funding close to 100 million SEK (about 9.2 million USD), including a recent 32 million SEK (about 2.944 million USD) financing round.
- Projected Launch and Compliance: Targeted release in 2026, subject to EU regulatory approvals.
- Potential Environmental Impact: Aimed at significantly curbing methane emissions from livestock.
- Support from Major Stakeholders: Backed by prominent Swedish food industry investors emphasizing robust market support.
Enhanced Feed Additive Lome™ (gen2): A Closer Look
Volta Greentech recently announced a new iteration of its feed additive, Lome™ (gen2), designed to reduce methane emissions from cattle efficiently. This development is part of the company’s broader strategy to address one of the persistent challenges in the agricultural sector—significant greenhouse gas emissions from livestock.
Financial Backing and Development Strategy
Volta Greentech has secured funding nearing 100 million SEK, approximately 9.2 million USD, with a notable contribution of 32 million SEK (around 2.944 million USD) from the latest investment round. This financial support underscores investors’ confidence in the company’s potential to scale its technology and meaningfully impact agricultural emissions.
Addressing the Challenges of Agricultural Emissions
Despite a modest 2% reduction in agricultural emissions in Europe over the last two decades, Volta Greentech is positioning its product as a viable solution to accelerate these reductions. The new Lome™ (gen2) is touted as more effective, economical, and scalable than its predecessor.
Technological Advancements and Market Response
Initially, Volta Greentech focused on leveraging red algae Asparagopsis to mitigate methane emissions. However, following extensive research and development, the company has pivoted to a second-generation additive that promises significant cost reductions and enhanced scalability.
Fredrik Åkerman, CEO of Volta Greentech, emphasized the strategic shift, stating, “Reducing cost is crucial for large-scale impact. Our latest R&D achievements and the support from our stakeholders have propelled us towards a scalable and economically feasible solution to meet agricultural climate targets.”
Stakeholder and Investor Engagement
Major investors include the Axel Johnson group and KFS, which are notable players in the Swedish food market. Their financial commitment and market influence are seen as critical to the potential success and wide adoption of Lome™ (gen2).
Pär Warnström, Senior Investment Manager at Novax (part of Axel Johnson), highlighted the strategic importance of their investment: “Supporting innovations like Lome™ aligns with our mission to foster sustainable practices in the food industry. We believe in Volta Greentech’s vision and capacity to significantly reduce hard-to-abate bovine emissions.”
Practical Applications and Future Prospects
Angelo Demeter, Chief Product Officer at Volta Greentech, says, “Our new product integrates seamlessly into established agricultural practices, ensuring ease of adoption for farmers and scalability in production.”
Image provided by Volta Greentech
