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Under the multi-phase, multi-year agreement, the company and CH4 Global will develop a comprehensive roadmap targeting key livestock markets in India, Brazil, Argentina, Uruguay and Paraguay. The collaboration will establish specific business models to distribute CH4 Global’s Methane Tamer cattle feed additive in each of these markets.
Jai Shroff, chairman and Group CEO, UPL, said: “Our OpenAg purpose places collaboration at the heart of progress, and through this partnership we aim to mark an important step in showing how agriculture can deliver on overall efforts to reduce greenhouse gasses. Methane is almost thirty times as harmful for global warming than CO2 and recent reports show the highest levels in 800,000 years, so its reduction must be our top priority. This initiative will present a new model for sustainable livestock which can be scaled globally, helping the industry reach net-zero for greenhouse gasses by adopting methane mitigation technologies, and demonstrating agriculture’s positive impact on the environment.”
Steve Meller, President and CEO of CH4 Global, said: “We are thrilled to join forces with a market leader like UPL to accelerate the global adoption of Methane Tamer™. UPL’s vast footprint across the key markets and its trusted relationships with farmers make them an ideal partner as we scale up to meet the massive need for enteric methane reduction solutions.”
UPL is a global leader in sustainable agriculture solutions. The company has a diverse portfolio of biological and traditional crop protection solutions.
The company reported consolidated net loss of Rs 443 crore in Q2 FY25 as against with net loss of Rs 189 crore posted in Q2 FY24. Revenue from operations rose 9.05% YoY to Rs 11,090 crore in the quarter ended 30 September 2024.
Alpha Wave Global will acquire approximately 12.5% stake in Advanta through a combination of primary and secondary investments. The primary investment of $100 million will be used to fuel Advanta's growth initiatives, while the secondary sale of $250 million will help UPL reduce its debt.
This investment marks the second significant funding round for Advanta, following a $300 million investment from KKR in October 2022.
In another development, UPL said it will raise Rs 3,377.74 crore through a rights issue of 9.38 crore shares. Shareholders will be offered one rights share for every eight equity shares held, at a price of Rs 360 per rights share. The issue period is from December 5 to 17.
The company reported consolidated net loss of Rs 443 crore in Q2 FY25 as against with net loss of Rs 189 crore posted in Q2 FY24. Revenue from operations rose 9.05% YoY to Rs 11,090 crore in the quarter ended 30 September 2024, driven by 16% increase in volumes, 7% decline in price and near flat Fx.