Reasons to Invest

• A Breakthrough in Infant Nutrition –Good Earth Dairy fills a critical gap in the A$1.48 trillion global dairy industry (by 2033). 

  Hydrolysed formulas, a A$15b segment, are designed to break down cow’s milk proteins to reduce allergy risk and aid digestion. However, this process denatures the proteins, leaves a bitter taste, raises costs, and often leads to feeding resistance. 

• Camel milk solves this naturally – Allergen-free, gentle on digestion, and neutral in taste is a unique alternative positioned to redefine infant nutrition.

• Inflection point – Our camel milk cheeses, kefir and smoothies have won multiple gold and silver medals at the 2025 DIAA WA Awards, delivering independent validation of quality. At the same time, we have strengthened our Advisory Board with leaders in global food manufacturing and exports, milestones that mark a clear step toward our future IPO.

• Primed to disrupt the Dairy and Infant Formula Industries – Over the last nine years Good Earth Dairy has developed its technology on a pilot dairy situated on 2000 acres north of Perth. Our modular dairies are designed to produce 3 million litres annually, with projected costs already below A$2 per litre and targeting less than A$1 per litre as yield improvements are achieved, supporting our goal to become the lowest-cost producer of high-quality camel milk globally.

• Leadership Team – Led by Marcel Steingiesser formerly of BHP Billiton, with an exceptional leadership team including Max Tarling (formerly led the growth of Peters & Brownes, one of the largest milk and ice cream companies in Western Australia), and Advisory Board Member Andy Yeap, (Chief Operating Officer for Kawan Food, a publicly listed Malaysian Company with over A$100m in turnover through food manufacturing). 

• Building on 9+ Years of Research and Development – Partnership with Edith Cowan University confirmed camel milk’s potential in reducing inflammation and improving metabolic health. Adding further credibility and building on our backing by the WA Government, with a A$4.4M grant secured to build Australia’s first camel milk infant formula facility.
  
  

Since our last raise.

Following a successful raise on Swarmer in early 2025, Good Earth Dairy has:

• Commenced supermarket sales of its award-winning camel milk cheeses which secured Gold and Silver awards at the 2025 Dairy Industry Association of Australia (DIAA) WA Dairy Product Competition.
• Advanced the high-level design of its infant formula manufacturing facility, with potential sites Identified for the construction of the new facility.
  
  

A Global Opportunity

Camel milk is emerging as a leading alternative in the dairy and infant formula sectors, offering both health and commercial advantages. Unlike cow’s milk, it does not contain the key allergenic proteins that drive digestive issues and intolerances, making it naturally gentler and more digestible.
While large herds have been established in the UAE and Saudi Arabia, these operations face challenges from disease and extreme climates, limiting their ability to supply formula-grade milk. 

Good Earth Dairy is uniquely positioned to fill this gap, offering an enzyme-rich, naturally digestible alternative to hydrolysed formulas, which are costly, bitter-tasting and often rejected by infants.

Our R&D driven approach, validated by the Edith Cowan University, enables us to scale ethically by utilising wild camels, turning an ecological issue into a global nutritional solution.

The Science behind Camel Milk

The Problem: Cow’s milk proteins challenge every baby: allergies for some, digestion issues for all. Cow’s milk is hard to digest for all babies because it forms hard curds in the gut. Current solutions taste bad, are expensive, and don’t truly solve the problem.

The Solution: Camel milk addresses these issues naturally. It is allergen-free, easy to digest, and has a neutral taste. Molecularly, it is the closest to human milk, making it a uniquely well-suited base for infant nutrition.

Our tech-first, ethical model also enables us to scale up by utilising wild camels, turning an ecological issue into a global nutritional solution.

Business Model

Good Earth Dairy’s model combines three revenue streams with a phased go-to-market strategy to scale globally:

• Branded infant formula: A premium, allergy-addressing formula, export-led with recurring demand.
• Ingredient supply (powder): B2B camel milk powder to manufacturers, anchored by offtake agreements.
• Fresh milk & camel meat: Adjacency revenue supporting cash flow during scale-up.

This model is rolled out in three phases:

• Phase 1 – Local Fresh Market: Retailing fresh camel milk and camel meat to build awareness and trust.
• Phase 2 – Powder Facility in Australia: Own-brand camel milk powder and B2B supply to local partners, co-funded by a A$4.4m WA Government grant.
• Phase 3 – International Expansion: Exports via e-commerce and B2B distribution in Asia and MENA, with China as the first global target market.
  
  

Industry & Competitive Advantage

• Exclusive access to Australia’s wild camel population: Australia has the largest wild camel population in the world and the highest quarantine standards globally, providing disease-free animals ideal for dairy.

• Sustainable and low impact: Camels emit less methane, need less water, and tread lightly on soil; making them environmentally superior to cows. These benefits align strongly with the Australian Climate Smart Agriculture scheme and other environmentally aligned agriculture funding programs.

• First Mover in Formula-Grade Production: We are the only Australian producer with the planned infrastructure and regulatory alignment to manufacture camel milk-based infant formula at commercial scale.
  
  

The Company

Good Earth Dairy is led by CEO Marcel Steingiesser, formerly of BHP, and supported by a multidisciplinary team with over 300 years of collective experience in dairy, agriculture, FMCG, and food export.

Since March 2025 we have welcomed new advisory board members including Andy Yeap, COO at Kawan Food (a publicly listed manufacturing & food distribution company with A$100M turnover), who brings food manufacturing expertise, and Rory Coffey, a global trader and camel feed specialist, who enhances our supply chain and trade capabilities.

Our team has cultivated strong buyer relationships with Australian supermarkets representing over A$780M in annual turnover.

Use of Funds

Funds from this raise will be used to:

• Secure the site for our new infant formula manufacturing facility,

• Purchase long-lead items critical to the facility build, and

• Expand our dairy to 360 milking camels, delivering a turnover capability of A$6 million.

While we have already raised funds over the past five years to support research, development, and early-stage growth, Good Earth Dairy is now rolling out operations for our full-scale commercialisation plan. 

Key Risks

Funding.
The Company is in the process of raising funds to achieve its strategic business objectives and cover its projected operating expenses associated with growing the company. The Company may not raise all of the required funding and therefore may not achieve all of its business objectives. Depending on the success of the Offer, the Company may also need to raise additional funds in the future from investors or third parties. There is no assurance that the Company will be able to obtain additional rounds of funding on substantially the same terms as outlined in this Offer Document or at all. The Company’s value may be materially affected if the required additional funding is not available.

Dilution. 
A shareholder’s interest in the Company could be diluted if the Company raises further capital via share issuance and existing shareholders do not participate in future fundraising.

Returns are not Guaranteed. 
There is no guarantee of any income distribution or capital return on the shares in the Company nor is there a guarantee of repayment of capital amounts. Shareholders will not be entitled to any guaranteed distributions of profits or capital. There is no guarantee that distributions will be at a certain level or that there will be distributions at all. 

Dividends. 
Any future determination as to the payment of dividends by the Company will be at the discretion of the Directors and will depend on the financial condition of the Company, future capital requirements and general business, and other factors considered relevant by the Directors. No assurance in relation to the payment of dividends or franking credits attaching to dividends can be given by the Company.

Competition Risk.
The Company operates in a competitive market, with several known competitors. There are however moderate barriers to entry that could give rise to new and unknown competitors. If the Company is unable to successfully compete with existing and/or new competitors, this would have a negative impact on the revenue, profitability, and future prospects of the business.

Unforeseen Expenditure Risks.
Expenditure may need to be incurred that has not been taken into account in the preparation of this Offer Document. Although the Company is not aware of any such additional expenditure requirements, if such expenditure is subsequently incurred, this may adversely affect the expenditure proposals of the Company.

About Swarmer

Swarmer is an Australian equity crowdfunding platform connecting businesses and investors. Designed to support start-ups, growth companies and scale-ups we allow everyday investors to own a share in businesses that are the future. We hold Australian Financial Services License (AFS License #507867). 

Find out more about becoming a shareholder via Equity Crowdfunding through Swarmer.