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Orange-based global carbon capture technology group Loam Bio has sold its livestock methane abatement solutions spin-off ROAM Agricultural to Perth company Rumin8, which aims to 'decarbonise 100 million cattle' by 2030 with affordable supplements.
Rumin8 CEO and co-founder David Messina says the acquisition, for an undisclosed sum, complements his company's plans for its own methane and productivity solution.
"ROAM has focused on the same active ingredient as Rumin8 and has developed delivery formats that expand our portfolio to reach production systems that can benefit from an extended release profile," Messina explains.
"While early in their development stage, ROAM’s products can be accelerated into regulatory studies and commercialisation by leveraging Rumin8’s capabilities and learnings to provide an additional methane abatement solution to the world’s cattle farmers and ranchers."
Messina says ROAM had initially focused on a fungi-based technology approach to producing tribromomethane, or TBM which is recognised as the most effective methane-reducing active in livestock, but the spin-out then progressed to delivering synthesised TBM.
The acquisition of ROAM includes alternative processes for manufacturing and delivering TBM.
"Using our own experiences and technical expertise, we can accelerate the commercialisation of ROAM’s development portfolio, working with Rumin8’s key manufacturing partners to move these products into formal testing and registration, while advancing discussions with partners to support commercialisation and further farmer/rancher monetisation of carbon reduction for these exciting new products," Messina adds.
ROAM Agricultural CEO Derek Peterson describes ROAM's technological advancements as a perfect complement to Rumin8’s existing suite of products.
"Rumin8 has already made significant traction on the path to commercialisation, and it makes perfect sense to pass the baton to a seasoned team with a clear road map to market. This technology matters. It plays an important role in global climate initiatives, and we are excited to watch the Rumin8 team take it to its next stage of growth," Peterson says.
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