Methane emissions from cattle account for more than 4 percent of global greenhouse gases. If cows receive a small supplement of algae in their feed, methane emissions can be reduced by as much as 80-90%. This was demonstrated in a pilot study conducted on Gotland this summer. Now, three Swedish food actors are coming together to invest in scaling up Volta Greentech's technology so that it becomes available to hundreds of farmers in the future.
During the summer, the world's first methane-reduced beef was launched in 20 Coop stores in Stockholm and on Gotland in collaboration between Volta Greentech, the grocery chain Coop, the Swedish food company Protos, and Ejmunds Farm on Gotland. The animals' feed was enriched with algae supplements from Volta Greentech's algae factory in Lysekil and added as only 0.6% of the bulls' daily feed. The result was a reduction in methane emissions during the feeding period by between 80-90 percent. The climate effects were validated by the independent research institute RISE.
To accelerate the work, Axel Johnson's investment arm Novax, the Consumer Association Stockholm, and the Swedish food company Protos have come together and invested a total of 20 million SEK in Volta Greentech as a strategic investment to accelerate the work towards achieving set climate goals.
Volta Greentech was founded in 2019 and has now raised over 50 million SEK in capital.
"Our solution to reduce methane emissions from cows is well recognized for its potential to have a rapid, measurable, and positive impact. Scaling this up sufficiently quickly to have a positive effect on the climate is challenging. But it is important that it gets done, and we are delighted to have the support of leading Swedish food actors," says Fredrik Åkerman, CEO of Volta Greentech.
The next step for Volta Greentech is the construction of Volta Factory 02. The factory is planned to commence in 2024 and will be Volta Greentech's first large-scale algae factory.
"To solve the challenges we face, the entire food chain needs innovative solutions and broad cooperation. Volta Greentech stands for just such an innovative solution, and we see great potential in the cooperation that is now being created and scaled up," says Pär Warnström, Investment Manager at Axel Johnson's investment company Novax.
Future Food is one of Novax's investment themes, and over the past year, they have invested in leading ingredient companies in both the UK and France.
"We currently collaborate with 400 farms on Gotland. The transition work towards increased sustainable meat production is part of our vision to develop and move 'from farm to region.' Therefore, we are proud to contribute to climate innovation with concrete results," says Thomas Östlund, CEO of Protos AB.
"The results delivered by the pilot study demonstrate what is possible in the transformation of the food industry. We are pleased to support Volta Greentech's important work," says Axel Boethius, Sustainability Strategist at the Consumer Association Stockholm.
Volta has previously been supported by prominent entrepreneurs such as Claes Dinkelspiel (Nordnet) and Peter Carlsson (Northvolt). They have also received financial support from the Swedish Board of Agriculture, Vinnova, and Almi Väst.
Brief Background:
During the UN Climate Conference 2021, COP26, Sweden and over 100 other countries launched The Global Methane Pledge, with the goal of reducing 30% of methane emissions by 2030. In Sweden, cows and cattle account for over 70% of total methane emissions. Swedish Volta Greentech has now demonstrated the potential to significantly reduce emissions. Against the backdrop of the positive results in the pilot study with Coop, Protos, and Ejmunds Farm, there is great potential for Sweden's agriculture to lead the transformation.
Volta Greentech aims to eliminate methane emissions from cows by 2050. The methane gas produced from cows accounts for 4% of the world's total greenhouse gas emissions (CO2e). This is twice as much emissions as from the world's airplanes. Methane emissions from the digestion of ruminants are the single largest source of greenhouse gas emissions from agriculture.
Press Images:
Photo: Volta Greentech
For interview requests and media inquiries, please contact:
Fredrik Åkerman, Volta Greentech
press@voltagreentech.com
Tel: +46 707708633
