New report tracks Asparagopsis industry’s rise
Media release
Monday, 29 January 2024
A new report released today charts the growth of the Asparagopsis industry in Australia and around the world as the industry moves through early stages of commercialisation.
The FutureFeed Report to Industry 2023 – A Seaweed Solution to Address Climate Change provides a comprehensive review of investment, and research and development, in growing, processing, regulation and feeding of Asparagopsis to beef and dairy cattle.
Asparagopsis is a red seaweed native to Australia. It was first discovered to be the most efficient natural supplement available for livestock, capable of reducing methane emissions by 80% or more, by scientists from CSIRO and James Cook University, supported by Meat & Livestock Australia (MLA).
Australia’s CSIRO estimates that if just 10% of global ruminant producers adopted Asparagopsis, it would reduce emissions by the equivalent of taking 100 million cars off the world’s roads and result in productivity increases that could produce enough food for an additional 23 million people.
Established by CSIRO in 2020, FutureFeed holds the global intellectual property (IP) for the use of Asparagopsis as a livestock feed ingredient for significantly reducing methane.
The report provides insights in to how FutureFeed and its nine licensee partners across Australia, New Zealand, United States, Europe and Canada, are progressing the production and adoption of Asparagopsis as a proven livestock feed ingredient for reducing methane in ruminant animals.
FutureFeed CEO Alex Baker said from a standing start, the Asparagopsis industry has rapidly developed as its world-changing potential to address enteric methane has received global recognition and investment.
The FutureFeed Report to Industry 2023 details:
More than AUD$350 million in grants, equity funding and environmental prizes has been committed to the commercialisation of Asparagopsis. FutureFeed and its licensees have successfully leveraged public funding to attract significant venture capital funding.
Research (15 studies are referenced) has shown Asparagopsis as a feed material reduces methane emissions, is safe for animal consumption and the resulting meat and dairy products are safe for consumers.
The key challenges and opportunities are to scale up production to meet global demand and produce a lower cost product.
“A decade of rigorous scientific research has proven Asparagopsis is the world’s most effective enteric methane solution. We are supporting our licensee partners to scale up the technology to meet global demand and reduce costs,” Mr Baker said.
“Asparagopsis promises significant benefit to agriculture through reducing greenhouse gas (GHG) emissions and carbon intensity.
“Benefits extend beyond the livestock and dairy industries. Our licensees are growing and processing seaweed in the regions in which they operate, creating new industries and employment opportunities.
“FutureFeed, together with our licensees, is creating a new, sustainable, nature-based industry.”
In 2024, FutureFeed is focused on:
Actively developing an Australian enteric methane methodology with government to ensure livestock producers will be able to verify methane reductions from their animals using Asparagopsis
Development of methodologies to support licensees and other industry participants to generate value from GHG abatement (by participating in carbon markets)
Develop tools and frameworks to provide transparency to buyers and end consumers of Asparagopsis feed materials
Selection of additional market participants through issuance of additional production licenses in key international markets
Leading and contributing to scientific and on-farm trials creating more data regarding methane reduction, animal productivity, feed use efficiency, meat eating quality and evaluating feeding systems
Engaging regulators to help support regulatory approvals in markets where required.
“FutureFeed believes 2024 will be a pivotal year for the development of Asparagopsis technology. Our licensees are moving from the experimental to the early stages of commercialisation, scientific knowledge of growing and feeding Asparagopsis is building, and industry is keenly watching our progress,” Mr Baker said.
Download or read the full FutureFeed Report to Industry 2023 – A Seaweed Solution to Address Climate Change here.
Ends
About FutureFeed
FutureFeed holds the global intellectual property (IP) for the use of Asparagopsis as a livestock feed ingredient for reducing methane. It also holds granted patents and patent applications for a method of use for methane reduction, a method of use for productivity gains, and the process of manufacturing of vegetable oil-based Asparagopsis products. FutureFeed was established in 2020 by CSIRO to drive the commercialisation of this technology.
Media contact for FutureFeed Report to Industry 2023
Matt Peacock – Dentsu Creative PR
M: +61 0408 362 696
E: matt.peacock@dentsu.com