CH4 Global, a Henderson, NV-based climate tech company, raised US$29M in Series B funding.
The round, which brought the total amount to $47M, was led by DCVC, DCVC Bio, and Cleveland Avenue, with participation from other investors with an interest in climate change. As part of this funding round, Cleveland Avenue, will join the CH4 Global Board of Directors.
The company intends to use the funds to build and validate the CH4 Global EcoPark™, an aquaculture and production facility that will make its signature product, Methane Tamer™, at scale.
Led by CEO Steve Meller, CH4 Global delivers products that enable the food industry value chain to reduce GHG emissions. Its Methane Tamer™ is a feed additives for feedlot cattle that harnesses Asparagopsis seaweed to reduce enteric methane emissions by up to 90%.
The company has current subsidiaries in Australia and New Zealand.
Commenting on the news, Steve Meller said: “We are receiving massive interest from governments, food producers and farmers of all sizes, fueling our sense of urgency that we must act now to avoid a climate tipping point. The pressure is on with new regulations and the desire to produce at a measurably lower impact. What we’ve developed at CH4 Global is what we call a CH4 Global EcoPark, which enables low-cost growth and processing of Asparagopsis.”
FinSMEs
29/08/2023