INVESTMENT UPDATE NUMBER 8 BIO
Sector: Agrifood / Clean Economy
Breakthrough Victoria is investing $1.7 million in Number 8 Bio, a leading innovator in sustainable agriculture technologies, joining a round led by Main Sequence and including The March Group.
This investment marks a major step forward in the fight against climate change and the drive toward more efficient food production.
THE INVESTMENT
Investment Type | Venture Capital |
Investment Vehicle | Seed Preference Shares |
BV Investment | $1.7 million |
WHO IS Number 8 Bio?
Number 8 Bio, a leading innovator in sustainable agriculture technologies, based in Sydney.
They have developed a groundbreaking technology known as "Performance Digestion". This revolutionary approach utilises advanced metabolic engineering, synthetic biology, and chemistry to create feed supplements that address two critical challenges in livestock farming: reducing methane emissions and enhancing animal productivity.
THE PROBLEM
As the global population grows, so too does the demand for meat and dairy products. However, simply increasing our global livestock numbers to meet this demand has serious implications for climate and land use with ruminant methane emissions currently contributing up to 15 per cent of global greenhouse gases.
Methane is about 80 times more effective at trapping heat than carbon dioxide over a 20-year period, indicating that cutting methane is the one of the strongest levers we have to slow climate change over the coming decades.
Given that up to 12 percent of a ruminant's energy intake is usually lost as methane, cutting emissions also has the potential to improve the efficiency of livestock production.
THE SOLUTION
Number 8 Bio has developed a groundbreaking technology known as "Performance Digestion" that underpins their BetterFeed products. Their innovative method combines cutting-edge metabolic engineering, synthetic biology, and chemistry to develop feed additives. These supplements tackle two major issues in livestock farming: lowering methane emissions and boosting animal productivity.
By adding as little as 25 grams of their BetterFeed additive to daily cattle feed they could reduce ruminant methane by up to 90 per cent.
In addition to reducing methane emissions, Performance Digestion also increases the productivity of livestock. The feed supplement will contain productivity modifiers that redirect the animal’s metabolic pathways towards growth-promoting compounds. This dual-action approach not only helps the environment but also optimises the animal’s energy use, leading to increased production of meat, milk, and wool.
IMPACT FOR VICTORIA
As part of the investment by Breakthrough Victoria, Number 8 Bio will run trials with Agriculture Victoria at Ellinbank SmartFarm and has made a commitment to a research collaboration with Monash University. A proposed regional Victorian manufacturing facility post Series A funding is anticipated to create over eight skilled FTEs by 2026.