Microsoft’s co-founder Bill Gates has led a funding round investing in Rumin8, an Australian climate technology company aiming to reduce emissions in agriculture.

Breakthrough Energy Ventures (BEV) was founded by Bill Gates with participation from agri-food business Harvest Road Group. BEV led the funding round which raised $12 million to spend on commercial trials.

Rumin8 produces dietary supplements for farm animals, which help prevent them from producing methane. The company claims it can replicate compounds which naturally reduce methane and reproduce them in a low-cost and scalable way.

Rumin8 said phase 2 seed round had been oversubscribed, with other investors including the Australia- based Aware Super Sentient WA Growth Fund and US based Prelude Ventures, which both participated in the first round of funding.

Commenting on the news David Messina, managing director at Rumin8, said: “There is a genuine desire to fund solutions to enteric methane emissions from livestock and fortunately for Rumin8, they can see the benefits of our technology.”

He added: “Our laboratory results continue to yield excellent results, our animal trials are reflecting the laboratory results, and the financial modelling we are undertaking is indicating we will be able to supply our products at a commercial price point.”

Microsoft recently said it would cut around five per cent of it's workforce, about 11,000 roles, from its human resources and engineering divisions.

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