© Cascadia Seaweed
Whilst shy of its $7 million target, the funding round, which recently closed after raising $4 million from investors including WWF Impact, Norfolk Green Ventures, and Potato Impact Partners, will enable Cascadia Seaweed to construct a commercial-scale seaweed biorefinery on Canada’s west coast. Through the construction of this new facility, Cascadia aims to increase biomass production and expand the sales and marketing of its liquid kelp extracts, biostimulants, and livestock products.
“We are thrilled with the support from both new and existing investors. We’ve built a vertically integrated business that delivers real environmental and economic benefits, and this funding will enable us to scale up and provide surety of supply of innovative inputs to our customers while contributing to more resilient food production in North America,” said Michael Williamson, Cascadia Seaweed chief executive, in a press release.
Cascadia Seaweed prides itself on its expertise in cultivating large quantities of high-quality seaweed on low-impact ocean farms in partnership with coastal First Nations. Each of its eight farms is owned by a First Nation community, with benefits flowing to local communities. Using this sustainably farmed seaweed, Cascadia produces agricultural products, such as biostimulants, to provide regenerative solutions to increase crop yields and livestock productivity, while reducing agricultural emissions.
In just five years, Cascadia Seaweed has secured more than $18M in equity and non-dilutive capital to design, develop, and advance technologies in its value chain, making regenerative products for crops and livestock that improve outcomes for farmers, particularly in the face of climate change impacts.
“Cascadia’s model provides benefits to our oceans, our environment, coastal communities, and can help mitigate climate change. When scaled, cultivated seaweed can also reduce the footprint of our global food system by providing a nutritious source of food and livestock feed with less land and resource inputs,” commented WWF’s Paul Dobbins.
