Volta Greentech gears up: Swedish food companies join forces to reduce climate impact from cattle
Fredrik Åkerman and Angelo Demeter, founders of Volta Greentech
Methane emissions from cattle account for more than 4 percent of global greenhouse gases. If cows receive a small addition of algae to the feed, methane emissions can be reduced by as much as 80-90%. This was shown in a pilot study conducted on the island of Gotland in Sweden this summer. Now, three Swedish food companies are joining forces and investing in scale up Volta Greentech's technology to make the solution 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 Gotland in a collaboration between Volta Greentech, the grocery chain Coop, the Swedish food company Protos and the farm Ejmunds gård 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 results showed that methane emissions during the feeding period were reduced by around 80-90%. The climate effects were validated by the independent research institute RISE.
To accelerate the work, Axel Johnson's investment arm Novax, Konsumentföreningen Stockholm, and the Swedish food company Protos have recently joined forces and invested a total of €2 million in Volta Greentech as a strategic investment to accelerate the effort in achieving set climate goals.
Volta Greentech was founded in 2019 and has raised over €5 million in investments.
"Our solution for reducing methane emissions from cows is well recognized for its potential to have a rapid, measurable, and positive impact. Doing this on a large scale and fast enough to have a positive effect on the climate is challenging. But it is important that it gets done, and we are happy about the support we've gotten from the Swedish food industry, 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 have production start 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 such an innovative solution, and we see great potential in the collaboration that is now being created and geared up, says Pär Warnström, Investment Manager at Axel Johnson's investment company Novax.
The Food of the Future is one of Novax's investment themes, and over the past year, they has invested in leading ingredient companies in both the UK and France.
"Protos are collaborating with 400 farms in the Gotland region today. The transformation to a more sustainable beef production is a part of our vision to develop and go “from farm to region”. We are proud to contribute to climate innovation with demonstrated results, says Thomas Östlund, CEO of Protos AB.
"The results that the pilot study has delivered show what is possible in the transformation of the food industry. We are happy to support Volta Greentech's important work, says Axel Boethius, Sustainability Strategist Consumer Association Stockholm.
Volta is already backed by prominent entrepreneurs such as Claes Dinkelspiel (Nordnet) and Peter Carlsson (Northvolt). Volta has 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, intending to reduce 30% of methane emissions by 2030. In Sweden, cows and sheep account for over 70% of total methane emissions. Swedish Volta Greentech has now demonstrated the potential to reduce emissions drastically. In light of the positive results of the pilot study with Coop, Protos, and Ejmunds gård, there is great potential for Swedish agriculture to lead the transformation.
Volta Greentech aims to eliminate methane emissions from cows by 2050. The methane gas produced by cows corresponds to 4% of the world's total greenhouse gas (CO2e) emissions. That's twice as many emissions as from the world's fleet of aircraft. Methane emissions from ruminant digestion are the single largest source of greenhouse gas emissions from agriculture.
Press:
Images: Volta Greentech
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For interview requests and media questions, please contact:
Fredrik Åkerman, Volta Greentech
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