🇸🇪 Nordic SeaFarm secures 25m SEK in capital with EIT InnoEnergy and Inter IKEA Group as lead investors

Gothenburg, Sweden – 27th of August 2024

Nordic SeaFarm, a pioneering company in sustainable seaweed cultivation, proudly announces the successful closure of a capital increase round totaling 25 million SEK. The round was led by European innovation engine in sustainable energy InnoEnergy and Inter IKEA Group, marking a significant milestone in the company’s growth trajectory.

“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.”

Contact:

Simon Hilmersson
CEO Nordic SeaFarm
[email protected]
+46 72 0192183

About EIT InnoEnergy

InnoEnergy is a leading European innovation engine, dedicated to accelerating the transition to a sustainable energy future. InnoEnergy was established in 2010 and they bring together innovators, industry, and academia to foster the development of market-ready solutions that address the world’s most pressing energy challenges. For more information, visit https://www.innoenergy.com/

InnoEnergy Contact:

Jonas Norlund, Investment Manager
[email protected]

Originally published on 27 August by Nordic Seafarm.

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