Blue economy

Alotta, which has developed floating solar solutions, has raised NOK 63.5m and announced a power purchase agreement with Chilean salmon farmer Mowi Chile.  

According to Katapult, the 13 companies taking part in the fourth and final programme for the fund represent the “most technically advanced and commercially mature” group of startups to date, with an average valuation of €25m.

The fund aims to help close the SDG 14 funding gap in Asia by investing into early-stage and growth companies in sectors such as maritime decarbonisation and sustainable aquaculture.

The investment, underpinned by backing from West Yorkshire Pension Fund, will help Oyster Heaven provide environmental benefits by restoring lost oyster habitats.

The Oslo-based investor has already invested from its second fund in three firms providing technology and services to the sustainable fish farming industry.

Renowned for its record-breaking waves which attract surfers from all over the world, Portugal’s coastline may produce as much as 15 gigawatts of wave energy.  

The fund will invest in startups working to support the regeneration of ocean biodiversity and has secured backing from the European Investment Fund and a range of institutional investors.

Six public development banks from Europe and Asia launched the Clean Oceans Initiative 2.0 as the third United Nations Ocean Conference kicked off this week.

Enthos Circular Feed Technologies will use the funds to run a new plant that relies on insects to transform organic waste into protein and oil products for the animal and aquaculture feed industry.

Ocean Panel’s paper on ocean employment highlights the challenges and opportunities for employment and economic growth in the transition to a sustainable blue economy.