Symbrosia methane reducing feed additive to make market debut with US$7M funding
HAWAII—Symbrosia, a Hawaiian CleanTech startup has created SeaGraze, a breakthrough feed additive made from seaweed that reduces livestock methane emissions by more than 80% set to make a market debut soon with US$7 million in Series A funding.
The startup completed the world’s first commercial seaweed trial of Asparagopsis taxiformis— a species of red algae— in 2020, testing the feed additive on an organic farm in Dover Plains, New York, where drastic methane reduction was confirmed.
After proof of concept, the company shifted its focus to research and development, with scalable production in mind, at the Natural Energy Laboratory of Hawaii (NEHLA) Ocean Science and Technology Park.
Symbrosia spent the next two years piloting a novel seaweed breeding and cultivation technology, which led to the development of strains that are significantly more productive, potent and resilient than wild seaweed populations.
The consistent year-round Hawaiian climate, aquaculture innovation ecosystem and the State’s support have amplified Symbrosia’s success in Hawaii and the company plans to max out production at its pilot facility, and build a larger one with the infusion of Capital.
The capital from the funding round led by Danone Manifesto Ventures, will allow Symbrosia to increase seaweed production by a factor of 1,000, hire additional experts and put SeaGraze in the hands of livestock producers worldwide.
SeaGraze will be marketed to innovative brands and cattle producers to create the world’s most sustainable supply chain, said Symbrosia’s founder and CEO Alexia Akbay.
“Now is our moment to take action on methane,” Akbay said. “During the past two years of research, we pushed the boundaries in seaweed breeding to develop high-performing seaweed strains.
This Series A funding round marks a critical inflection point where we shift our focus to bringing this innovation to market at scale, as quickly as possible, with strategic partners in Hawaii, California, and the Pacific Northwest.”
Danone is one of the world’s leading food companies and the global leader in dairy with around 100,000 employees globally and operates in more than 120 countries.
Danone was one of the first 100 companies to align its carbon reduction trajectory with the Paris Agreement and in 2017, the company’s emissions reduction targets were approved by the Science-Based Targets initiative as being in line with the global measures necessary to keep global warming below 2° C.
The company’s investment and leadership in fund raising towards the realization of SeaGraze aligns with its goal of becoming carbon neutral across its full value chain by 2050.
Additional investors include previous seed investors, Pacific6 and HATCH, new investor, Presidio Ventures, and new Hawaiian investors, Kamehameha Schools and Mana Up, along with individual local investors, farmers, and seaweed enthusiasts.
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