Climate Fund Managers, Eos Capital to develop large-scale kelp farm in Namibia

Climate Fund Managers (CFM) and Eos Capital have announced a partnership between Climate Investor Two (managed by Climate Fund Managers), Kelp Blue and the Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, for the commercial development of the world’s first large-scale kelp farm

brian yurasits EQlwRGr5sqk unsplashKelp Blue will create employment opportunities in coastal communities and contribute to economic growth in outlying areas. (Image source: Brian Yurasits/Unsplash)

Investment of approximately US$60mn will be required over a five-year period. This will be funded by both international and local Namibian sources through CI2 and NIDIF, pending investment approvals. Kelp Blue will seek the necessary Namibian regulatory approvals and will liaise closely with local authorities.

Kelp Blue will cultivate giant kelp in nutrient-rich waters 3-10km off the coast of Namibia, near Lüderitz. The seaweed canopy will be sustainably harvested to produce alternative agri-food, bio-stimulant and textile products.

Kelp is a fast-growing seaweed and has the ability to sequester more CO2 than terrestrial forests while boosting marine biodiversity and improving fish stocks and generating additional ecological benefits, including counteracting ocean acidification and de-oxygenation.

Kelp Blue’s business model will add value across the entire kelp value-chain. The introduction of offshore engineering innovations and novel processing technologies will reduce overheads and increase scalable process efficiencies. Economic development will be promoted through the creation of value-added products in Namibia for local consumption and export.

Kelp Blue will also create employment opportunities in coastal communities and contribute to economic growth in outlying areas. Kelp Blue is directly aligned with the goals of the CI2 facility as it offers a viable alternative to existing water and waste management practices and current approaches to ocean system management. It is also aligned to Eos Capital and NIDIF’s shared mission of contributing to the growth of the Namibian economy. The business will contribute to the attainment of the United Nations’ Sustainable Development Goal Number 14: Life below water through the creation of marine ecosystems.

Nicole Maske, the managing partner of Eos Capital, said, “In addition to the positive impact on our ocean and our local fish stocks, this is an exciting opportunity to add to the infrastructure and growth of Lüderitz, thereby enhancing prospects for the local community, and to secure inward investment into Namibia on an environmentally responsible basis.”


LATEST NEWS IN Aquaculture

Youth’s challenges in artisanal fisheries and aquaculture discussed at IYAFA 2022

Youth’s challenges in artisanal fisherie…

Themes including the need for African governments to have youth-focused fisheries policies, came strongly to the fore as Food and Agriculture Organization (FAO) brought experts and activists together to consider...

Fish project tackles malnutrition in Uganda

Fish project tackles malnutrition in Uga…

 Ugandan Lake catches are mostly dominated by three highly-nutritious fishes, known locally as 'muziri', 'ragoogi' and 'mukene'

African flag registries exploited by high-risk fishing operators: Report

African flag registries exploited by hig…

Ensuring that high-risk fishing operations and vessels are excluded from national flags is a critical step to securing the waters of Africa for the legitimate and sustainable enrichment of coastal...

Angola sees boost in aquaculture and agriculture output

Angola sees boost in aquaculture and agr…

The output in the agriculture and fishing (+12.9% y-o-y) sector in Angola continues to record blockbuster growth and has surpassed pre-pandemic levels, according to the National Statistics Institute’s (INE) latest...

Wanda Fish Technologies Ltd signs agreements to advance goals in cultivated fish

Wanda Fish Technologies Ltd signs agreem…

Israel- FoodTech start-up Wanda Fish Technologies Ltd has signed two agreements with Tufts University to advance the company’s goals in the emerging field of cultivated fish

Ghana imports US$200mn fish annually

Ghana imports US$200mn fish annually

Illegal fishing is having a negative impact on Ghana's fish stock and economy, and the country is spending around US$200mn annually to import fish to meed the demand

Prev Next

OTHER RELATED ARTICLES - Aquaculture

Wanda Fish Technologies Ltd signs agreements to advance goals in cultivated fish

Wanda Fish Technologies Ltd signs agreem…

Israel- FoodTech start-up Wanda Fish Technologies Ltd has signed two agreements with Tufts University to advance the company’s goals in the emerging field of cultivated fish

Namibia receives support from Cuban aquaculture experts

Namibia receives support from Cuban aqua…

Three Cuban aquaculture experts were called upon by Namibia's Ministry of Food and Industry to help boost fish production levels in the country 

Aquaculture and fisheries sector boosts Africa’s economy

Aquaculture and fisheries sector boosts …

The fisheries and aquaculture sector has contributed greatly to Africa’s overall economy, according to a study carried out by the FAO

Ghana’s President inaugurates Elmina fishing project

Ghana’s President inaugurates Elmina fis…

Ghana’s President Nana Addo Dankwa Akufo-Addo has inaugurated the construction of Elmina Fishing Port Project

Chinese firm to set up fish processing plant in Kenya

Chinese firm to set up fish processing p…

A Chinese company has signed an agreement with a Kenyan regional government to set up a fish processing plant at the cost of US$9mn

Eritrea launches training course for fishermen

Eritrea launches training course for fis…

Eritrea has launched a training course for traditional fishermen in the port city of Massawa

New products for aquaculture hatcheries launched

New products for aquaculture hatcheries …

Meriden Animal Health is launching a unique breakthrough product for the early days of larval rearing which mirrors an optimal wild larval diet  

Rwanda improves fish storage infrastructure

Rwanda improves fish storage infrastruct…

Rwanda Agriculture Board (RAB) has announced that it had set up infrastructure for cold chain system at Kigali in a bid to curb post-harvest losses of fish

New EU- Morocco fisheries partnership including Western Sahara

New EU- Morocco fisheries partnership in…

Members of the European Parliament (MEPs) have adopted new fisheries partnership with Morocco including Western Sahara, which aims to sets fishing opportunities for EU vessels and promote sustainable fishing policy...

Namibian fish exports increase by US$67.4mn

Namibian fish exports increase by US$67.…

Namibia’s fish consumption doubled in 2012 from levels of fish consumption reported the previous year, according to the Namibia Fish Consumption Promotion Trust (NFCPT)

Fish farming companies account for more than 80% demand of autogenous vaccines for aquaculture

Fish farming companies account for more …

Fish is a widely consumed food across the world

Nigerian scheme extends aid to fishermen and fish farmers

Nigerian scheme extends aid to fishermen…

The Nigerian Ministry of Agriculture has announced that it is supporting 18,580 fishermen and 14,800 fish farmers across the country through its Growth Enhancement Support (GES) scheme

Prev Next