Bill Gates joined a slew of billionaires investing in an Australian climate technology startup as Microsoft Corp‘s (NASDAQ:MSFT) Breakthrough Energy Ventures LLC participated in a $12 million Phase 2 seed funding round for Rumin8 Pty.
What Happened: Rumin8, an Australian startup, plans to disrupt the methane-emitting animal agriculture industry with a lab-grown feed additive, reported Bloomberg.
The Perth-based startup is developing a supplement for cows made from synthetically replicated bromoform, the active ingredient found in red seaweed.
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The report noted that cows account for almost one-third of man-made methane emissions. Giving livestock seaweed in their feed could cut 98% of their methane emissions.Â
The investment from the Gates — which will be used on commercial trials — comes amid growing concern over the impact of greenhouse gas-emitting animal agriculture.
Gates has been an outspoken critic of the industry and has backed other firms such as Beyond Meat Inc. (NASDAQ:BYND) and Impossible Foods Inc.
Other investors in Rumin8 include Australia-based Aware Super Sentient WA Growth Fund and U.S.-based Prelude Ventures.
Last year, the New Zealand government proposed taxing farmers for their cows’ burps and farts as part of a plan to tackle climate change.
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