Sweden-based startup Volta Greentech raises 1.7 million Euro to fight burps from cows — and is now eying to build the world’s largest algae factory
Press release, Lysekil SWEDEN, 2021.05.21
Volta Greentech is producing a feed material for cows that eliminates up to 80 percent of their methane emissions. To enable commercial production, the company has built a land-based algae production prototype in Lysekil, Sweden. The new capital contribution will be invested into establishing its pilot facility during 2021, preparing for a large-scale factory supplying enough seaweed to eliminate a significant portion of methane emissions from Swedish cattle.
“There are more than one billion cows on the planet, and the emissions from these continue to increase. Despite that, there are no widespread solutions to decrease the emissions, and research in the field is progressing far too slow. However, we are now on track to implement a solution that can reduce a large part of the emissions, and it feels exciting that such competent investors want to join our journey”, says Fredrik Åkerman, the university dropout who is today CEO and co-founder at Volta Greentech.
Claes Dinkelspiel, founder of Nordnet bank, also invested in the current investment round. He says: “I own a farm with cattle myself, and am well aware of the problems with methane emissions. Here is a solution that can make a substantial difference. It feels both inspiring and meaningful to participate in decreasing methane emissions both in Sweden and potentially internationally”. In addition to Dinkelspiel, several other well- known investors participated including Peter Carlsson (Northvolt), along with one of Volta’s customers in the retail sector.
While the company’s first pilot factory of 500 square meters has a relatively small footprint, the space is used efficiently using the company’s cultivation technique. “By constructing a closed system, we make sure that we retain constant production and quality over time, regardless of environmental factors such as water quality or weather. The approach also enables drastically improved efficiency and productivity over time by continuous iterations of the cultivation recipe in our laboratory”, says Fredrik Åkerman.
About Volta Greentech
5 percent of the world’s greenhouse gas emissions come from one single source; methane from cows’ burps and farts. Volta Greentech is developing a solution with the potential to reduce up to 80 percent of these emissions. Volta is now building the world’s first commercial land-based red algae farm on Sweden’s west coast. Meanwhile, in the company’s laboratory at the Karolinska Institute in Stockholm, the mechanisms for increasing the algae’s methane reducing abilities are under development. Read more at voltagreentech.com.
Contact / more information
CEO and Co-founder, Volta Greentech
firstname.lastname@example.org / +46 70 770 86 33
Link to images: Volta Press Kit