Ocean Rainforest, which grows kelp in the Faroe Islands and California, has secured a €2.5 million investment, in a round led by Triodos Food Transition Europe Fund.
Triodos Food Transition Europe Fund has made its first investment in sustainable aquaculture by acquiring a minority equity stake in Ocean Rainforest, a seaweed cultivation company. This investment aligns with Triodos’ Nature-based Solutions goals, as seaweed positively impacts biodiversity and helps capture carbon. Other shareholders include the Grantham Foundation and WWF.
Ocean Rainforest, founded in 2007 in the Faroe Islands, aims to meet the rising global demand for sustainable seaweed, which enhances marine biodiversity, contributes to sustainable agriculture, and supports coastal communities. The company, which began cultivation in 2013, is Europe’s largest seaweed producer, expecting to harvest 400 tonnes in 2024. Seaweed from Ocean Rainforest is used in various markets, such as cosmetics, food, animal feed, and nutraceuticals.
CEO Olavur Gregersen expressed that the investment supports the company’s strategy to scale production and strengthen its contribution to sustainability. Ocean Rainforest is also expanding into the US, growing giant kelp off the coast of California with plans for further commercial cultivation.
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