Climate Tech Company Partners with South Korean Multinational Giant to Tackle Methane Emissions from Livestock – A Game-Changing Solution to Eliminate Up to 10 Million Tons of CO2 Equivalent Per Year
HENDERSON, Nev., September 26, 2023 /PRNewswire/ — CH4 Global, Inc., a climate technology company on a path to scalable and cost-effective production of products that enable the food industry value chain to radically reduce GHG emissions, announced today today a partnership with the multinational conglomerate Lotte International. The objective of this strategic partnership is to bring Mthane Tamer™, a technology for reducing enteric methane from ruminants, to South Korea. CH4 Global and Lotte International are currently progressing studies towards regulatory approval in South Korea in consultation with the government.
Lotte International
The partnership includes the initial supply to Lotte-owned Australian feedlot Sandalwood of up to seven thousand head of cattle, primarily Wagyu beef. As an exclusive partner of CH4 Global in South KoreaLotte will supply up to four million cattle with the methane-reducing enteric feed supplement.
The climate impact, due to the reduction of emissions, for four million cattle would amount to ten million tonnes, a conservative estimate of seven million tonnes of CO.2-e per year (GWP100).
The launch target is 2025, with Lotte leading marketing and CH4 Global manufacturing and supplying the product.
“As a company that operates a beef business Australia, methane reduction is a very important ESG issue. Therefore, we are actively working with CH4 to reduce the methane generated at Sandalwood and provide low-carbon beef to the market. Additionally, we are working to introduce CH4 Global products to Korea to support the Korean government’s goal of reducing methane emissions,” said Ki-ho Jeong, CEO of Lotte International.
“From the beginning, CH4 Global has focused on developing products and partnerships that enable us to achieve our critical goal of reducing methane emissions globally. This partnership with Lotte is another step towards realizing our vision and implementing our goals. revolutionary food additive in the hands of farmers and food producers around the world,” said Steve MellerCEO and co-founder of CH4 Global.
CH4 Global’s unique solutions provide the best market opportunity to scale quickly and, with partners like Lotte, the opportunity to massively reduce climate impact.
Methane Tamer™ uses red algae (Asparagopsis) which, when added to livestock feed, significantly reduces animal methane emissions by up to 90% while also reducing food energy lost due to methane emissions.
The world’s 1.5 billion cows produce more than 150 million tonnes of methane per year, the largest source of methane in the world. More than 12 billion tonnes of CO2-e per year (with an average of 100 kg of methane/cow), this represents a GHG production greater than that of the United States, the EU and India combined. Additionally, the UN cites methane as being more than 80 times more impactful than CO.2 on global warming in the next 20 years.
About Lotte International
The Lotte Group, which includes Lotte International, is the sixth largest company in Korea. Lotte includes more than 90 business units employing 60,000 people in industries as diverse as candy manufacturing, beverages, hospitality, fast food, retail, financial services, industrial chemicals, electronics , computing, construction, publishing and entertainment. Lotte manages other businesses in China, Thailand, Malaysia, Indonesia, Vietnam, Cambodia, Uzbekistan, India, UNITED STATES, United Kingdom, Kazakhstan, Russia, Philippines, Myanmar, Pakistan, Poland, Australia and New Zealand. Lotte International, founded in 1974, is a principal company dedicated to the production and supply of agricultural products and food ingredients within the Lotte Group.
About CH4 Global
CH4 Global, founded in 2018, has an urgent mission to reduce the climate curve, through collaboration with strategic partners around the world. Led by a world-class team of seasoned business builders, scientists and entrepreneurs, the company brings breakthrough products to market that enable the food industry value chain to radically reduce carbon emissions. GES. The company’s first innovation, Methane Tamer™ feed additive for cattle in feedlots, harnesses the power of Asparagopsis algae to reduce enteric methane emissions by up to 90%. CH4 Global is headquartered in Henderson, Nevadawith current subsidiaries in Australia and New Zealand. Learn more about CH4 Global and our recent news.
Media Contacts – CH4 Global, Inc.
For press inquiries in North America, Latin AmericaAnd Europe
Charlene Moorepublic relations officer and communications advisor
(email protected) | P: +1 725 272 5732 | M: +1 831 331 5332
For press inquiries in Asia, AustraliaAnd New Zealand
Verity Edwards, Hughes Public Relations and Communications Advisor
(email protected) | P: 08 8412 4100 | M: 0412 678 942
SOURCE CH4 Global, Inc.
