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Bill Gates joined a slew of billionaires investing in an Australian climate technology startup as Microsoft Corp‘s MSFT Breakthrough Energy Ventures LLC participated in a $12 million Phase 2 seed funding round for Rumin8 Pty.
What Happened: Rumin8, an Australian startup, plans to disrupt the methane-emitting animal agriculture industry with a lab-grown feed additive, reported Bloomberg.
The Perth-based startup is developing a supplement for cows made from synthetically replicated bromoform, the active ingredient found in red seaweed.
The report noted that cows account for almost one-third of man-made methane emissions. Giving livestock seaweed in their feed could cut 98% of their methane emissions.
The investment from the Gates — which will be used on commercial trials — comes amid growing concern over the impact of greenhouse gas-emitting animal agriculture.
Gates has been an outspoken critic of the industry and has backed other firms such as Beyond Meat Inc. BYND and Impossible Foods Inc.
Other investors in Rumin8 include Australia-based Aware Super Sentient WA Growth Fund and U.S.-based Prelude Ventures.
Last year, the New Zealand government proposed taxing farmers for their cows’ burps and farts as part of a plan to tackle climate change.
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Image and article originally from www.benzinga.com. Read the original article here.