Fremantle-based SeaStock, a carbon abatement company which farms seaweed at a unique land-based production facility, has signed its first commercial supply contract.
The Tom Puddy - led company will supply a super concentrate of natural bioactive compounds found in its farmed Asparagopsis seaweed to FutureFeed, a next-generation livestock feed which virtually eliminates emissions from cows.
The concentrate extracted from Asparagopsis works by inhibiting a specific enzyme in the gut during the digestion of feed, preventing the formation of methane.
CSIRO researchers found a diet containing 0.2 per cent Asparagopsis reduces bovine methane by 98 per cent.
It’s estimated if just 10 per cent of global ruminant producers adopted Asparagopsis as an ingredient to feed their livestock, it would have the same impact on the climate as removing 100 million cars from the world’s roads.
The energy saved from methane non-generation is believed to also see livestock growth rates increase significantly, with the CSIRO estimating the 10 per cent adoption rate would help produce enough food to feed an additional 23 million people.
The highly concentrated product allows SeaStock to export small volumes stabilised in WA-produced canola oil to demand markets, which can be diluted to required inclusion rates in feed systems.
It could be utilised for compound, mash and lick block feed applications providing customers with flexibility in terms of how the product is introduced to livestock and dependent on individual needs.
SeaStock managing director Tom Puddy said the signing of the first commercial sale was a milestone for the company.
“It’s the culmination of years of hard work by our team and solidifies our role as leaders in the seaweed industry,” he said.
“With out first commercial order now secured, we are progressing our plans for the expansion of our production and processing facilities in WA to cater for expected demand growth globally.”
FutureFeed chief executive Alex Baker said SeaStock had taken an innovative approach by applying biorefining to seaweed to produce the oil.
“This oil concentrate demonstrates progress of the growing supply base assisting our efforts to position Asparagopsis as a major contributor in driving down methane emissions in the agricultural sector,” he said.
In 2023 SeaStock won the Louis Dreyfus Company Climate Resilience Prize in Mass Challenge Switzerland competition, a major European-based global competition for startups focused on climate change. It was the only Australian company to be selected as a finalist.
Source: Business News, Author: Sam Jones, Date: 16 August 2024
