Sea Forest Limited expected to be biggest launch since Huon Aquaculture in 2014
Sea Forest’s game-changing cattle feed supplement has caught the attention of international markets as the Tasmanian company readies for a landmark $110m ASX debut.
A Tasmanian company which aims to help the world cut methane emissions from livestock is set to launch on the Australian Securities Exchange with a likely market value of $110 million by the end of November.
Sea Forest Limited is based at Triabunna where it manufactures its livestock feed product SeaFeed.
The company says that when its product, SeaFeed, is added to the diet of cattle the animal’s methane emissions are reduced by eighty per cent and there is also a six per cent productivity gain in terms of meat yield and feed conversion efficiency.
The seaweed derivative Asparagopsis Taxiformis a species of red algae prevents the formation of carbon and hydrogen atoms in a bovine animal’s stomach after it has eaten grass or other fibrous plants.
The SeaFeed product inhibits production of a special enzyme which is used by cattle in digestion and generally released into the atmosphere through burping or flatulence.
Sea Forest Limited co-founder Sam Elsom was the 2025 Tasmanian entrant in the Australian of the Year.
While originally seaweed was grown on ropes on an 1800ha marine lease in the sea off Tasmania’s east coast the company has transitioned to manufacturing and harvesting on land.
It also has plans to install facilities in Queensland, NSW, WA and South Africa.
The company’s anticipated expansion comes at time when livestock producers are under pressure around the world from regulators about greenhouse gas emissions.
Denmark recently introduced a tax on livestock emissions which is expected to cause a reduction in cattle numbers and similar measures have been proposed in the Nertherlands and Ireland.
Australia has about 28 million beef cattle and 2.2 million dairy cattle but the Federal Government aims to reduce methane emissions by thirty per cent by 2030.
Sea Forest Limited is already supplying customers who run about 100,000 head of cattle with potential to expand to 236,000 cattle, predominantly in feed lots, in Australia.
“Australia provides the most direct path to profitability,” Mr Elsom said of the company’s plans.
“By concentrating on the Australian domestic market in the initial phase Sea Forest expects to be able to generate meaningful revenues quickly while building a platform for future global expansion.”
Sea Forest is already seeking regulatory approvals in South Arica, United Kingdom, European Union and Brazil.
The company has completed an initial public offering through brokers Ord Minnett to sophisticated investors which has raised about $20 million of primary capital.
It ultimately expects to trade nearly 56 million shares at $2 when it’s securities launch on the ASX on November 26, 2025.
A prospectus was lodged with the Australian Securities and Investments Commission on Friday.
The launch is set to be Tasmania’s biggest since Huon Aquaculture debuted on the ASX at $430 million in 2014.
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