Windfall Bio, a leader in methane-to-value solutions, announced its $28 million Series A funding round led by Prelude Ventures with participation from Amazon’s Climate Pledge Fund, Global Brain (through its Norinchukin Innovation Fund L.P.), Incite Ventures, and Positive Ventures. Existing investors, including B37 Ventures, Breakthrough Energy Ventures, Mayfield, and UNTITLED (a fund backed by the Tetra Laval family), also joined the round.
Supporting the commercial pipeline, this funding round will enable Windfall to expand pilot deployments across methane-intensive industries, including agriculture, oil and gas, and waste management. Windfall will also invest resources to continue building out the team, manufacturing capacity, and supply chain to meet growing global customer demand.
Methane is a potent greenhouse gas that is 86 times more warming than carbon dioxide over a 20-year period. Methane concentrations in the atmosphere have more than doubled since preindustrial times, and emissions from manmade and natural sources continue to accelerate. Methane contributes to 30% of the planet’s warming, and capturing these emissions is a unique opportunity to reduce global emissions quickly and significantly, especially with rising market demand and regulatory pressures. Windfall’s solution addresses this by capturing methane for a low, all-in cost while producing on-site, high-quality fertilizer for customers to use or sell.
Windfall’s nature-based solution utilizes methane-eating microbes (known as mems) that capture methane from any source and nitrogen from the air to produce organic fertilizer on customers’ sites. For agriculture and industrial customers, mems improve soil health, enable emissions tracking and reporting, improve resource efficiency, and generate new revenue streams from the sale of organic fertilizer.
Windfall exited stealth mode in March 2023 with a $9 million seed raise. And the Series A funding round brings the company’s total fundraising amount to $37 million and further validates the need and promise for its methane mitigation solution across multiple industries. This funding round builds on several milestones the company achieved over the last year, including building its executive team and Board of Advisors to support Windfall’s go-to-market strategy.
KEY QUOTES:
“While addressing methane emissions is the most impactful strategy available today to tackle near-term climate change, it has remained a critically underappreciated and underfunded problem for global warming, only recently gaining significant attention in climate discussions. However, methane represents an important resource that can create significant value for customers if they are given the right tools. We’ve seen early commercial traction and with the support of our strategic investors, Windfall will empower customers across industries to eliminate harmful methane emissions and create valuable outputs in return.”
– Josh Silverman, co-founder and CEO of Windfall Bio
“Windfall Bio’s approach to methane mitigation creates an exciting greenhouse gas emissions reduction opportunity for agricultural customers and other industries. We look forward to piloting Windfall Bio with our Whole Foods Market suppliers, and delivering results together in the coming years.”
– Nick Ellis at Amazon’s Climate Pledge Fund
“Windfall Bio is a cost effective and simple methane mitigation solution that increases the efficiency, profitability, and sustainability of methane emitting industries. Uniquely, Windfall’s approach can rapidly scale globally across large industries to meaningfully reduce methane emissions.”
– Mark Cupta, Managing Director at Prelude Ventures
