May 16, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

ArkeaBio, a bio-agtech startup working to develop a safe, user-friendly, and cost-effective vaccine to reduce ruminant methane emissions, announced it has successfully closed on $26.5 million in Series A funding led by founding investor Breakthrough Energy Ventures (BEV). 

The round also attracted new investors: The Grantham Foundation for the Protection of the Environment, AgriZeroNZ, Rabo Ventures, Overview Capital, and The51 Food & AgTech Fund.

“Enteric methane emissions are responsible for around 10 percent of global warming. Enteric methane emissions are also very hard to abate,” commented The Grantham Foundation for the Protection of the Environment. “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.”

An assessment released in 2021 by the United Nations Environment Program (UNEP) and the Climate and Clean Air Coalition determined that reducing farming-generated methane levels is of high priority for fighting climate change.

The aforementioned report explains that methane is the primary cause of the formation of ground-level ozone – a dangerous pollutant and greenhouse gas responsible for 1 million premature deaths each year, as concentrations in the atmosphere have more than doubled since pre-industrial times. Furthermore, as a greenhouse gas, methane is 86 times more potent at causing global warming compared to CO2, over a 20-year period. 

These factors, and others, have led to ruminal methanogenesis being identified as a key battleground for meeting projected climate goals by the UN Global Methane Pledge. 

Amid this reality, ArkeaBio’s vaccine, which is designed for safe and rapid implementation using existing on-farm practices, will provide an innovative and scalable solution for the reduction of global livestock methane emissions which currently generate the equivalent of 3 billion tons of CO2 annually and represent 6 percent 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,  ArkeaBio and partner, 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.”

“A methane vaccine for ruminant animals is internationally recognised as the ‘holy grail’ to deliver methane reduction at low cost and mass scale,” added AgriZeroNZ. “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.”

The company’s R&D results have garnered significant attention from investors, and the funds raised through this round will play a key 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, CEO, ArkeaBio.  

“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.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and Agtech Intel News. She can be reached at lkiernan-stone@globalaginvesting.com.

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