Nordic SeaFarm has secured €2.1 million (25 million SEK) in funding, led by EIT InnoEnergy and Inter IKEA Group. The investment will advance the company’s research and development efforts and expand its seaweed cultivation operations across Europe. The capital aims to support Nordic SeaFarm’s initiatives in creating sustainable materials and solutions, including replacements for synthetic polymers and food ingredients, while contributing to ocean restoration.
Nordic SeaFarm, located in Gothenburg, Sweden, specializes in the cultivation of seaweed with a focus on sustainability. The company employs advanced aquaculture methods to grow seaweed in European waters, aiming to utilize this resource for various applications, such as developing eco-friendly materials and food ingredients. Their work also includes efforts in ocean restoration. By exploring the versatile uses of seaweed, Nordic SeaFarm addresses environmental challenges and contributes to resource management in the context of sustainable practices.
“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, says Simon Hilmersson, CEO of Nordic SeaFarm.
The funds will primarily be used to further develop R&D capabilities and to scale up ocean cultivation in Europe to meet the rising global demand for regenerative solutions. Due to seaweed’s versatile functionality 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.
The involvement of InnoEnergy in this funding round underscores the strategic importance of connecting renewable energy with sustainable plant cultivation. Jonas Nordlund, Investment Manager at InnoEnergy commented: “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.
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.”
Inter IKEA Group views this investment as an important step to further explore the potential of marine materials as a feedstock.
Robert Carleke, Innovation Ventures Manager from Inter IKEA Group stated “To accelerate innovation and transformation on topics that are strategic to our business, we are open and curious to explore new opportunities. 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.”
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Read the orginal article: https://arcticstartup.com/nordic-seafarm-raises-e2-1m/
