Seaweed is one of the most underused resources on the planet, according to the team at Seaweed Solutions AS, a company partly based in ShareLab at Oslo Science Park. It grows faster than any land plant, require no freshwater or pesticides and pose no conflict with land use or food supply.
Seaweed Solutions AS, a pioneer in seaweed cultivation, has secured NOK 46M (EUR 4.4M) in new funding from World Wildlife Fund (WWF-US), Blade and other investors. This puts the company in a position to ramp up production and become one of Europe’s leading seaweed companies.
“Seaweed production has the potential to help address our planet’s dual climate and nature crisis,” says Paul Dobbins, senior director of impact investing and ecosystems services, at WWF-US.“
“Seaweed is fast-growing and highly efficient at absorbing CO2 and other excess nutrients from the ocean. With minimal impacts on freshwater or land, its low carbon footprint can help mitigate the worst impacts of climate change while providing a nutritious source of food for our growing population. But unlocking the many benefits of seaweed will only be possible by expanding farmed seaweed production. WWF is providing capital to Seaweed Solutions to support them as they deliver sustainable food and feedstock at a scale that will positively impact both people and the planet,” says Dobbins.
“We have all the elements for our expansion in place, from seeding to harvesting - and the right people. This will ensure the supply of world-class raw materials that will contribute to environmentally friendly blue growth in the future,” says Hallvard Muri, Chairman of the board.
To lead the expansion, Ole Christian Norvik, an experienced leader in the aquaculture industry has joined the company as CEO, bringing broad management and production experience from land- and sea-based aquaculture.
Read full press release here.