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Sep 03 2021 · 2 minute read

AQUA-SPARK

The Seaspiracy exposé of the worst of the fishing industry’s impact on our oceans left many viewers shocked. The aquaculture industry was not spared either. Fortunately, there are efforts out there to make aquaculture sustainable. Within our portfolio Aqua-Spark, a global investment fund based in the Netherlands, is investing in small and medium sized enterprises across the aquaculture value chain that are working towards the sustainable production of aquatic life, such as fish, shellfish and plants.

The fund’s most recent addition to its portfolio of 20+ impact focussed companies takes agriculture to the seas. Sea6 Energy, an Indian based biotech research firm, has developed a sea tractor — the SeaCombine — that harvests and replants carbon capturing seaweed on a floating farm.

Sea6 Energy
Video on Sea6 Energy. Reads "This start-up can farm seaweed on a mass scale"

Watch video on Sea6 Energy

Seaweed can play a role in fighting climate change by absorbing carbon emissions, regenerating marine ecosytems, creating bio plastics and biofuel as well as generating marine protein. Unlike trees, seaweed does not require fresh water or fertilisers and grows at a much faster rate than trees — up to two feet per day. But seaweed needs to be produced at a larger scale and lower cost to achieve its potential and that is where the sea tractor and Aqua-Spark’s investment comes in.

Aqua-Spark led the US$9m funding round in July this year which will contribute towards the financing of additional SeaCombines. Through harvesting seaweed at scale, Sea6 hopes to begin making bioplastics in the next five years and eventually to produce biofuels.

We’ve found hope in the positive step of putting Snowball capital towards a developing eco-system of sustainable aquaculture businesses, which together are trying to transform the aquaculture industry.

Learn more about Aqua-Spark.

If you have any thoughts about this article or would like to learn more about Snowball, please email us at hello@snowball.im.

Abigail Rotheroe, Investment director, Snowball
Abigail Rotheroe, Investment director, Snowball