Subjects: LIC, VEN
Catalyzing Change with Climate Technology: CH4 Global and Lotte partner to Redefine Cattle Environmental Impact
Climate Tech Company Partners with South Korean Multinational Giant to Tackle Cattle Methane Emissions - Groundbreaking Solution to Remove Up to 10 Million Metric Tons of CO2-e Annually
HENDERSON, Nev., Sept. 26, 2023 /PRNewswire/ -- CH4 Global, Inc., a climate tech company on the path to scalable and profitable production of products that enable the food industry value chain to radically reduce GHG emissions, today announced partnership with multinational conglomerate, Lotte International. The intent of the strategic partnership is to bring Methane Tamertm, ruminant enteric methane-reduction technology, to South Korea. CH4 Global and Lotte International are currently advancing studies for regulatory approval in South Korea in consultation with the government.
The partnership includes the initial supply to the Lotte-owned Australian feedlot, Sandalwood, for up to seven thousand head of cattle, primarily Wagyu Beef. As CH4 Global's exclusive partner in South Korea, Lotte will provide up to four million cattle with the enteric methane-reducing feed supplement.
The climate impact, from reduced emissions, for four million cattle would be as much as ten million metric tons, or a conservative estimate of seven million metric tons of CO2-e per year (GWP100).
The target launch is 2025, with Lotte leading commercialization and CH4 Global manufacturing and supply product.
"As a company that operates a beef business in Australia, reducing methane gas is a very important ESG issue. Therefore, we are actively working together with CH4 to reduce methane gas generated at Sandalwood and supply low-carbon beef in the market. In addition, we are working to introduce CH4 Global products in Korea to support the Korean government's goal of reducing methane gas emissions," said Ki-ho Jeong, CEO of Lotte International.
"From the start, CH4 Global has been focused on developing the products and partnerships that enable us to reach our critical goal of reducing methane emissions on a global scale. This partnership with Lotte is another step in the direction of achieving our vision and putting our groundbreaking feed additive in the hands of farmers and food producers worldwide," said Steve Meller, CEO and co-founder of CH4 Global.
CH4 Global's unique solutions provide the best market opportunity to rapidly scale, and along with partners such as Lotte, the opportunity to massively reduce climate impact.
Methane Tamertm uses a red seaweed (Asparagopsis) which, when added to cattle feed, drastically reduces the animals' methane emissions by up to 90% while also reducing the feed energy lost to methane emissions.
The 1.5 billion cows on the planet produce more than 150 million tons of methane annually -- the largest single source of methane globally. At more than 12 billion tons CO2-e per year (at an average of 100 kg methane/cow), this is a larger GHG output than from the US, the EU, and India combined. Moreover, the UN cites methane as over 80 times more impactful than CO2 on global warming over the next 20 years.
About Lotte International
Lotte group, which includes Lotte International, is the sixth largest company in Korea. Lotte consists of over 90 business units employing 60,000 people engaged in such diverse industries as candy manufacturing, beverages, hotels, fast food, retail, financial services, industrial chemicals, electronics, IT, construction, publishing, and entertainment. Lotte runs additional 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 main company dedicated to producing and sourcing agricultural products and food ingredient within Lotte group.
About CH4 Global
CH4 Global, founded in 2018, is on an urgent mission to bend the climate curve, through collaboration with strategic partners worldwide. Led by a world-class team of senior business builders, scientists and entrepreneurs, the company delivers market-disruptive products that enable the food industry value chain to radically reduce GHG emissions. The company's first innovation, Methane Tamertm feed additives for feedlot cattle, harnesses the power of Asparagopsis seaweed to reduce enteric methane emissions by up to 90%. CH4 Global is headquartered in Henderson, NV, with 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 America, and Europe
Charlene Moore, Public Relations Officer, and Communications Counsel
[email protected] | P: +1 725 272 5732 | M: +1 831 331 5332
For press inquiries in Asia, Australia, and New Zealand
Verity Edwards, Hughes Public Relations and Communication Counsel
[email protected] | P: 08 8412 4100 | M: 0412 678 942
SOURCE CH4 Global, Inc.
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