Hawaii-based Symbrosia, a provider of seaweed-based agriculture emissions reduction solutions announced today that it has raised $7 million in a series A funding round led by Danone’s corporate venture arm, Danone Manifesto Ventures.
Agriculture has emerged as a major focus area for climate action, as the sector accounts for a significant proportion of global greenhouse gas (GHG) emissions, and among the most difficult areas to address climate impact. According to the UN’s Food and Agriculture Organization, total emissions from global livestock represent 14.5% of all anthropogenic GHG emissions.
Founded in 2018, Symbrosia has developed a natural seaweed feed additive that reduces livestock methane emissions. The company breeds and cultivates seaweed strains and turns them into high-value products, including “SeaGraze,” a feed additive that reduces livestock methane emissions by chemically reducing the naturally occurring methane during the enteric fermentation part of a cow’s digestive process. Symbrosia aquaculture farming process involves zero fresh water and bioremediates waste from fish farms. The processing of seaweed into SeaGraze uses 100% renewable energy.
According to the company, the feed additive reduces “cow burps,” avoiding over 80% of livestock methane emissions.
Alexia Akbay, Symbrosia Founder and CEO, said:
“The support from Danone Manifesto Ventures and our other investors, existing and new, will enable us to increase seaweed production by a factor of 1,000, round out our team expertise with strategic hires, and put SeaGrazein the hands of visionary companies and livestock producers to create the world’s most sustainable livestock supply chains.”
Proceeds from the financing will be used to scale production of the company’s seaweed strains and bring SeaGraze to market. Symbrosia also plans to max out production in its pilot facility in Hawaii, and build a larger production facility to continue the scale-up.
Jean Prevot, Vice President, Operations and Sustainability at Danone Manifesto Ventures, said:
“We are thrilled to be partnering with Alexia and the Symbrosia team. We are impressed by the drive and passion they have to meaningfully address climate change through the reduction of livestock methane emissions. Given Danone’s leadership in the global dairy industry, this investment also complements our portfolio of strong solutions to help us and our partners achieve carbon neutrality across our value chain by 2050.”