Gothenburg, Sweden-based Nordic SeaFarm, a company specialised in sustainable seaweed cultivation, announced on Tuesday that it has secured 25M SEK (approximately €2.1M) from InnoEnergy and Inter IKEA as lead investors.
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.
Seaweed is a versatile, eco-friendly resource. It can be used in sustainable solutions for various industries including materials, food, and ocean restoration.
Led by Simon Hilmersson, Nordic SeaFarms mission is to make seaweed available to the masses, through large-scale ocean farming.
“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.
InnoEnergy: Supporting energy transition
Founded in 2010 and supported by the European Institute of Innovation and Technology, EIT InnoEnergy is a central force in the energy transition, driving sustainable innovation with technology, business model expertise, and skills.
The firm supports innovations in energy storage, transport, renewables, efficiency, industries, smart grids, and sustainable urban development.
InnoEnergy boasts a portfolio of over 200 companies, projected to generate €110B in revenue and save 2.1G tonnes of CO2e by 2030. These companies have collectively raised over €25B in investment.
The organisation spearheads three strategic European initiatives: the European Battery Alliance (EBA), the European Green Hydrogen Acceleration Center (EGHAC), and the European Solar Photovoltaic Industry Alliance (ESIA).
Jonas Nordlund, Investment Manager at InnoEnergy says, “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 realising their vision.”
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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