Nordic SeaFarm, based in Gothenburg, Sweden, has secured funding to bolster its seaweed cultivation efforts. The company announced a 25M SEK (around €2.1M) investment from InnoEnergy and Inter IKEA, marking a significant milestone in its journey towards large-scale ocean farming. This investment aims to enhance Nordic SeaFarm’s research and development capabilities while scaling up operations to meet increasing global demand for regenerative resources. Seaweed, known for its versatile applications, plays a crucial role in sustainable materials, food industries, and ocean restoration.
In 2021, Nordic SeaFarm received notable investments but on a smaller scale compared to the current funding. While previous investments focused on establishing initial farming operations and proof of concept, the recent funding emphasizes scaling and R&D advancements. This shift highlights the growing confidence in seaweed’s potential as a sustainable resource. The company’s ongoing collaboration with offshore wind players to use sea infrastructure for seaweed farms aligns with broader renewable energy and sustainability trends observed over the past few years.
Seaweed offers an eco-friendly solution for multiple industries, including materials and food production. Nordic SeaFarm, led by CEO Simon Hilmersson, aims to make seaweed accessible to a wider audience through large-scale cultivation. Hilmersson expressed enthusiasm about the new investment, stating,
“We are thrilled to welcome InnoEnergy and Inter IKEA Group as key investors in Nordic SeaFarm. Their support not only validates our mission but also provides resources and expertise needed to accelerate our growth and innovation, especially within future materials.”
InnoEnergy: Supporting Energy Transition
InnoEnergy, established in 2010 and backed by the European Institute of Innovation and Technology, is a pivotal player in the energy transition. The organization drives sustainable innovation through technology, business models, and skill development. With a portfolio of over 200 companies, InnoEnergy aims to generate significant revenue and reduce CO2 emissions by 2030. Investment Manager Jonas Nordlund highlighted the synergy between seaweed cultivation and renewable energy, stating,
“We see significant potential for growth and impact. Nordic SeaFarm’s ambition to collaborate with offshore wind players aligns well with our ecosystem.”
Inter IKEA: Fostering Innovation
Inter IKEA’s support exemplifies its commitment to sustainable and innovative materials. Innovation Ventures Manager Robert Carleke emphasized the importance of supporting companies like Nordic SeaFarm that push the boundaries of research and development in renewable materials. Carleke noted,
“Through our investments, we aim to support companies leading the next generation of recycled and renewable materials, and Nordic SeaFarm’s dedication to sustainability and scaling exemplifies that goal.”
Nordic SeaFarm’s latest funding round signifies a growing interest in sustainable seaweed cultivation. With enhanced R&D and expanded operations, the company is well-positioned to address global environmental challenges. By integrating seaweed farming with renewable energy initiatives, Nordic SeaFarm could set a precedent for sustainable practices in the industry. This investment not only supports the company’s immediate goals but also aligns with broader global efforts in sustainability and renewable resources.
