Series A investment will advance methane reducing vaccine
R&D, providing farmers cost-effective and executable climate
solutions, while also ensuring companies can address their GHG
reduction commitments.
ArkeaBio™, a leading ag-biotech start-up developing a vaccine to
reduce livestock methane emissions, today announced the close of a
$26.5 million Series A financing round. The raise was led by
current investor Breakthrough Energy Ventures (BEV), and attracted
additional investors, including The Grantham Foundation for the
Protection of the Environment, AgriZeroNZ, Rabo Ventures, Overview
Capital, and The51 Food & AgTech Fund.
ArkeaBio’s vaccine will provide an innovative, cost-effective,
and scalable solution to reduce the world’s livestock methane
emissions, which currently generate the equivalent of 3 Billion
Tonnes of CO2 annually and represent 6% of annual Greenhouse gas
emissions. “Reducing methane emissions from the agricultural sector
is one of the most pressing challenges in today’s fight against
climate change,” said Chris Rivest, Chairman of the Board at
ArkeaBio and partner at Breakthrough Energy Ventures. “ArkeaBio’s
approach using innovative vaccine technologies will create
effective and massively scalable solutions to reduce on-farm
methane emissions, leaving them well-positioned to redefine the
agricultural landscape in the years to come.”
ArkeaBio research and development results have garnered
substantial attention from investors for the advancement of the
inaugural methane-reducing vaccine, designed for safe and rapid
implementation within existing on-farm practices. The funds raised
in this Series A financing will play a pivotal role in expanding
the research, development and deployment of the vaccine, including
large-scale field trials and engagement along the supply chain. “We
are thankful for the financial support, confidence, and trust of
our investors. This funding will accelerate the development of our
vaccine-based solution to meet a pressing global problem,” said
Colin South, ArkeaBio CEO. “To echo the sentiments of The Grantham
Foundation: ‘climate change is the greatest challenge humanity has
ever faced. It is the race of our lives.’ This capital raise allows
us to continue to create the tools necessary for farmers to achieve
globally relevant reductions in livestock methane emissions.”
ArkeaBio is dedicated to collaborative efforts with industry
partners, regulatory authorities, and environmental organizations
to bring this transformative solution to market.
Additional Investor Statements:
"Enteric methane emissions are responsible for around 10% of
global warming. Enteric methane emissions are also very hard to
abate. New technologies can help to prevent accelerating methane
emissions from the agricultural sector. We are excited to support
ArkeaBio's development of methane vaccines for ruminants on their
pathway to commercialization." - The Grantham Foundation for the
Protection of the Environment
“A methane vaccine for ruminant animals is internationally
recognised as the ‘holy grail’ to deliver methane reduction at low
cost and mass scale. It could be one of the best long-term options
to really shift the dial on agricultural emissions and a powerful
tool globally. We’re really pleased to be supporting ArkeaBio and
its innovative approach to develop this important solution.” -
AgriZeroNZ
‘'As a cooperative bank, we want to future-proof our global food
system by supporting and offering solutions that have the potential
to reduce the environmental impact of agriculture. In our search
for solutions that can lower the footprint of livestock farming and
be applicable across all feeding systems, ArkeaBio emerged as a
game-changing solution. Their cost-effective, easy-to-deploy and
high-quality vaccines have the potential to be a critical tool as
part of the broader set of solutions that enable the food systems
transition.'' - Rabo Ventures
ABOUT ARKEABIO™
ArkeaBio™ is an ag-biotech start-up developing a safe,
user-friendly, and cost-conscious vaccine to reduce ruminant
methane emissions that will work seamlessly with existing global
agribusiness practices. With a record of success and a growing
reputation in the industry, ArkeaBio has emerged as a leading
player known for its cutting-edge solutions, ground-breaking
research, and unwavering commitment to changing the sustainable
agricultural landscape as we know it. For more information, please
visit www.arkeabio.com.
ABOUT BREAKTHROUGH ENERGY VENTURES (BEV)
A founding investor at ArkeaBio, BEV is backed by many of the
world’s top business leaders, BEV has raised more than $2 billion
in committed capital to support cutting-edge companies that are
leading the world to net-zero emissions. BEV is a purpose-built
investment firm that is seeking to invest, launch and scale global
companies that will eliminate GHG emissions throughout the economy
as soon as possible. BEV seeks true breakthroughs and is committed
to supporting these entrepreneurs and companies by bringing to bear
a unique combination of technical, operational, market and policy
expertise.
BEV is a part of Breakthrough Energy, a network of investment
vehicles, philanthropic programs, policy advocacy and other
activities committed to scaling the technologies we need to reach
net-zero emissions by 2050. Visit www.breakthroughenergy.org to
learn more.
ABOUT THE GRANTHAM FOUNDATION FOR THE PROTECTION OF THE
ENVIRONMENT
The Grantham Foundation for the Protection of the Environment,
and its affiliate, Grantham Environmental Trust, believe that
innovation and technology are the best hope for an enduring future.
The Grantham Trust and Foundation have, for over 15 years, focused
almost exclusively on climate change mitigation and support over
150 grantees and 90 companies around the world. For more
information, visit https://www.granthamfoundation.org/.
ABOUT AGRIZERONZ
AgriZeroNZ is a world-first public-private partnership between
the New Zealand Government and agribusiness companies with an
ambition to reduce agricultural emissions by 30% by 2030 and enable
the development and adoption of solutions to drive towards ‘near
zero’ by 2040. It is one of two key components of the Centre for
Climate Action on Agricultural Emissions, working alongside the New
Zealand Agricultural Greenhouse Gas Reduction Centre. Shareholders
have joined forces and pooled funds to drive a focus on delivering
game-changing solutions to rapidly reduce emissions and will help
New Zealand farmers meet global customer demands while maintaining
profitability. Please see https://www.agrizero.nz/ for further
information.
ABOUT RABO VENTURES
Rabo Ventures aims to support the vital transitions needed in
the global food system, which are closely linked to Rabobank’s
sustainability ambitions. We invest across the value chain – from
farm to fork – in stellar management teams building solutions for
real problems in Food & Agriculture with demonstrable
product-market fit. For more information, please visit
https://raboinvestments.com/team/ventures/.
ABOUT OVERVIEW CAPITAL
Overview Capital invests in businesses mitigating methane and
other super pollutants in the earliest stages. To learn additional
insights, please see https://www.overview.earth/.
ABOUT THE51 FOOD & AGTECH FUND
The51 Food & AgTech Fund invests in founders solving the
planet's greatest challenges through food and agriculture
innovation. The Fund represents a joint venture between The51
Ventures and CNSRV-X. To learn more, please visit
www.51agtech.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240508726302/en/
press@arkeabio.com