Volta Greentech raised $2 million from angel investors from Stockholm.

Volta Greentech, a Stockholm, Sweden-based manufacturer of an animal food supplement helping reduce gas emissions, announced completing a funding round of roughly SEK 17 million ($2M).

The money was raised from local angel investors from Sweden, including Nordnet's founder Claes Dinkelspiel and Northvolt's CEO Peter Carlsson.

Proceeds will be used as the company prepares to launch a factory in Lysekil (north of Gothenburg).

Volta Greentech was founded in 2018 by Fredrik Åkerman, Viggo Forsberg, Leo Wezelius and Angelo Demeter, aiming to reduce methane emissions from cows with a feed supplement made from a seaweed called Asparagopsis Taxiformis.

A.taxiformis is not commercially produced anywhere in the world today and based on positive research results from Australia and California, Volta Greentech will develop production methods, and build supply and distribution networks for the supplement in order to make the agricultural sector more environmentally sustainable.

Volta Greentech previously raised half a million of US dollars in 2020 and SEK 3M ($300k) in 2019.