Stockholm-based Agteria Biotech secures €1.4M from Norrsken Launcher to combat methane emissions

Stockholm-based Agteria Biotech, a company specilised in biotechnology solutions for reducing methane emissions from livestock, announced on Wednesday that it has secured €1.4M in a pre-seed funding round led by Norrsken Launcher. 

The Swedish company will use the capital to provide scalable, cost-effective solutions to tackle cattle methane emissions.

Cattle methane emissions constitute approximately 10% of global greenhouse gases. Despite many attempts to mitigate these emissions with solutions such as red seaweed, scalability and cost have remained significant obstacles. 

“Ultimately, it’s the large meat and dairy companies that are under pressure to reduce their emissions. We’re already in dialogue with several of the largest players in the world and have secured LOIs with some of the biggest ones in Europe,” adds Martin.

Agteria Biotech: Reducing methane emissions

Here’s where Agteria founded by Martin Blomberg and Tommi Remonen, breaks the limitations by developing a unique enzyme-blocking molecule, offering an effective, affordable, and scalable solution.

“Right now, studies are underway with world-class universities and relevant authorities to demonstrate that this is as effective and safe as preliminary studies have shown. After that, this can be rolled out globally,” says Martin Blomberg, Founder and CEO of Agteria.

The Swedish company wants to help solve climate change by offering a scalable,patent-pending feed additive almost 100 times more affordable than red seaweed.

Founded in research from the Royal Institute of Technology (KTH) in Stockholm, Agteria has been working closely with universities and regulatory authorities to validate the efficacy and safety of its product. 

The backing we’ve received allows us to accelerate our in-vivo studies and scale production, bringing us closer to our goal of commercial sales by 2026,” adds Dr. Tommi Remonen, CTO and co-founder. 

The investor

Norrsken Launcher works with researchers and scientists to industrialise, commercialise, and scale innovations that can fundamentally transform the future for people and the planet.

The platform offers access to impact capital, world-class recruitments, and a scalable growth structure.

“During my 7 years at Norrsken Foundation, I’ve never encountered a company with as realistic potential to reduce one percent of global GHG emissions as Agteria. To put this in perspective, Agteria could reduce emissions by an amount equivalent to nearly half of the entire global flight emissions,” says Erik Engellau-Nilsson, Managing Partner at Norrsken Launcher