Good Earth Dairy Eyes Camel Milk as Australia's Next Dairy Sensation
The grant propels Good Earth Dairy closer to its ambitious goals, increasing production capacity to 21.9 million liters annually, expanding international distribution, and venturing into the infant formula market. To fund this endeavor, the company plans to launch an initial public offering (IPO) on the Australian Securities Exchange in the second quarter of 2024. Additionally, Good Earth Dairy has initiated a bridging round through an equity crowdfunding campaign to enhance its current capabilities while the new facility is under construction.
Founded in 2016, Good Earth Dairy has become a prominent camel milk producer in Australia, generating nearly A$3.4 million in revenue since the commencement of distribution, with a remarkable 200% growth over the past year. The company taps into the vast feral camel population in the Australian Outback for its supply, operating on an 800-hectare property with a herd of 160 camels and plans to increase its herd size to 360. The grant will contribute to enhancing farm capabilities and primary production, creating over 90 new jobs once fully operational.
Marcel Steingiesser, Founder and CEO of Good Earth Dairy, believes that Australia is uniquely positioned to become a global leader in camel milk production. The company's strategic approach aims to capitalize on the increasing popularity of alternative milk options, positioning camel milk as a noteworthy player in the dairy market.