An Australian company cultivating seaweed to combat climate change has been named as a finalist for a prestigious global environment award.
Prince William announced Sea Forest was in the running for the Earthshot Prize at a gathering of business leaders, philanthropists and climate activists in New York on Wednesday.
The Tasmanian company is the first in the world to commercially develop and manufacture a feed supplement for cattle and sheep based on a native red Australian seaweed called Asparagopsis
When included as part of an animal's regular diet, the SeaFeed supplement can cut the amount of methane each animal produces by up to 90 per cent.
About 15 per cent of the world's total greenhouse gas emissions come from livestock production.
Sea Forest is the only Australian company to be listed as a finalist in the Earthshot Prize, which was launched by Prince William and The Royal Foundation in 2020.
The prize celebrates and champions innovators focused on solving global climate challenges.
Sea Forest chief executive Sam Elsom said he was thrilled the company was named as a finalist.
"This is a win for Australian climate science and Australia’s leading role in emissions reduction initiatives," he said.
"The climate may be in crisis and the scale of the task not to be underestimated but our perspective has always been that there are positive steps we can all take to reduce greenhouse gas emissions and limit global warming."
Sea Forest and the 14 other finalists are in the running to receive five prizes of £1 million ($A1.9 million).
The winners will be announced at a ceremony in Singapore on November 7.
