Startup SeaForest raises $13.8 million IPO for Asparagopsis feed additive

The Australian company says going public proved the best option to support scaling methane-inhibiting feed additives.

Pale pink and white coral formation surrounded by rocky marine substrate
Alexey Masliy | BigStock.com

Australian startup SeaForest believes Asparagopsis is ready for the global stage — and has taken its company public to prove it.

The company raised AUD20.5 million (US$13.8 million) via an initial public offering on the Australian Stock Exchange on November 26. Going public will not change the company's approach to developing or selling methane-inhibiting feed additives, but it will allow the company to expand production faster, according to CEO Sam Elsom.

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