CH4 Global Signs Pivotal Agreement With Ravensworth In Journey To Slash Agricultural Methane Emissions Worldwide
On path to reaching 10% of world's cattle by the end of the decade with its methane-reducing product, CH4 Global is working with large-scale food producer to bring low-methane beef to global customer base
Henderson, NV /PRNewswire/ - CH4 Global, Inc., today announced that it has entered a Letter of Intent for a commercial offtake agreement with Ravensworth to supply the large-scale food producer with its proprietary methane reducing feed supplement formulation for beef feedlot cattle. This agreement will enable both companies to make significant progress in reducing enteric methane, a major contributor to climate change.
A gateway to validate CH4 Global's production capability for large customers, this engagement is a critical step on the company's path to reaching 150 million cattle by 2030. An operational and learning build-up period will take place in 2023, with production targeting up to 40,000 head of feedlot cattle at Ravensworth over the next year and a half.
Production will take place at one of a growing number of CH4 Global EcoPark™ commercial facilities that are based on its proprietary Asparagopsis platform and are designed with sustainability and operational efficiency at the core. The relationship with Ravensworth will enable CH4 Global to continue to identify and exploit opportunities for operational and cost efficiency, the benefits of which it can pass on to its customers, thus preparing it for the next stage in its ambitious global growth plans.
"Ravensworth is a large-scale producer that supplies beef to customers worldwide, and like us, they have the vision and the commitment to make agriculture more sustainable. That's exactly what CH4 Global looks for in a partner," said Steve Meller, CEO and co-founder of CH4 Global. "We focus on where we can make the most impact, now. Our beef feedlot formulation is designed for seamless incorporation in feedlot operations, which is a gateway to agricultural methane reduction. Ravensworth is the perfect opportunity for us to enhance our production efficiencies prior to global expansion."
The star ingredient of CH4 Global's feed supplement formulations is Asparagopsis seaweed, proven to reduce enteric methane emissions in cattle by up to 90%. Ravensworth's implementation of the beef feedlot formulation is expected to dovetail with the kick-off the CH4 Global pilot carbon credit program under the Verra standard, furthering the financial feasibility of its solution and making certified low-methane beef a reality.
"Ravensworth has a long history of being on the cutting edge of innovation through our use of technologies, farming practices and techniques, with our focus always squarely directed at long term sustainable business practices supporting the food and fibre supply chains. We are excited to have a business partner in CH4 Global that shares our ethos", said Ron Harris, CEO and founder of Ravensworth. "The learning journey we are embarking upon has enormous potential to be a game changer in the reduction of methane in the environment and we hope this will be seen as a marker for all in the industry to follow"
CH4 Global's methane-reduction roadmap includes reaching 150 million cattle—10% of the world total—on all six habitable continents, which will prevent the emission of 1 gigaton of CO2 equivalent. Plans for 2023 and 2024 are focused on rapid commercial growth in Australia through Asparagopsis production by its regional subsidiaries, CH4 Australia and CH4 Aotearoa. Work is also well underway in North America to develop Asparagopsis production capacity there. In 2024, CH4 Global will focus on expanding into the remaining habitable continents, and the dairy sector, to make a global impact on climate change, at scale, with urgency.
About CH4 Global
CH4 Global, founded in 2018, is on an urgent mission to positively impact climate change worldwide. With expertise in turning ambitious ideas into successful, fit-for-purpose products, CH4 Global enables customers to radically reduce methane emissions in support of the 2-degree Celsius target. Its first line of methane-reducing cattle feed additives is derived from Asparagopsis Seaweed, for large beef and dairy producers, which, even if adopted for only 10% of cattle, would deliver more climate benefit than decommissioning 50-100 million fossil-fueled cars. CH4 Global is headquartered in Henderson, NV, with subsidiaries in Australia and New Zealand. Learn more about CH4 Global and our recent news.
As a forward-thinking agricultural specialist, the Ravensworth story began when the Harris family first arrived in the Riverina region of New South Wales, Australia in the 1990s. Our expertise comes from a dedicated team, passionate about sustainable food and fibre, leveraging against best practice and innovative approaches to business operations. Our feedlot is accredited with the National Feedlot Accreditation Scheme (NFAS) and operates to the highest standards of animal welfare. Incorporating state of the art technologies and expert advice has led to the delivery of exceptional performance outcomes. With approval for all major markets worldwide and a commitment to providing customers with safe to eat high quality beef, our systems ensure full traceability of product from paddock to plate. Learn more about Ravensworth.
Source: CH4 Global, Inc.Copyright 2023 PR Newswire. All Rights Reserved