Nordic SeaFarm operates the largest seaweed farm in Sweden, located near the coastal village Fjällbacka, off the west coast of Sweden.
Photo: Nordic SeaFarm
Nordic SeaFarm, which operates the largest seaweed farm in Sweden, has announced the completion of a successful funding round, totalling SEK 25 million (EUR 2.1m / USD 2.8m).
The investment round was led by EIT InnoEnergy, the world's largest sustainable energy innovation ecosystem, together with Inter IKEA Group, with the capital intended for further development of Nordic SeaFarm's R&D capabilities, and for the scale-up of ocean seaweed cultivation in Europe.
“We are thrilled to welcome InnoEnergy and Inter IKEA Group as key investors in Nordic SeaFarm. Their support not only validates our mission to make seaweed truly available to the masses, but also provides us with the resources and expertise needed to accelerate our growth and innovation, especially within future materials, said Simon Hilmersson, CEO of Nordic SeaFarm.
The company notes that, due to seaweed’s versatility and low climate footprint, "a variety of sustainable solutions across multiple sectors can be offered; including but not limited to next generation materials replacing synthetic polymers in plastic and textile, food ingredients, and ocean restoration", and highlights the potential for synergies between renewable energy and seaweed cultivation as another promising area of development.
“We are excited to invest in Nordic SeaFarm, whose seaweed cultivation addresses multiple environmental challenges. It not only taps into novel sources of proteins and biomaterials but also serves as a renewable alternative to fossil fuels and as an effective carbon sink," said Jonas Nordlund, Investment Manager at InnoEnergy.
"With favorable conditions for seaweed cultivation across Europe and an experienced and talented team in place, we see significant potential for growth and impact. Besides, Nordic SeaFarm’s ambition to collaborate with offshore wind players to use sea infrastructure for seaweed farms aligns well with our ecosystem. We look forward to supporting them in realizing their vision.”
Meanwhile, Inter IKEA Group said it views the investment as an important step to further explore the potential of marine materials as a feedstock.
“To accelerate innovation and transformation on topics that are strategic to our business, we are open and curious to explore new opportunities," said Robert Carleke, Innovation Ventures Manager from Inter IKEA Group.
"Through our investments we aim to support companies that are leading the next generation of recycled and renewable materials, and Nordic Seafarm’s dedication to pushing boundaries of research and development and their strong focus on sustainability and scaling exemplifies that goal," Carleke added.