The king has already eaten their sea salad – now Nordic Seafarm is increasing by 76 percent

The researchers believe in filling stomachs with crops from the sea. And seaweed and sea lettuce will soon be in a grocery bag on its way to your home, if the foodtech company Nordic Seafarm gets to decide.

Breakit has read the latest financial statement. That’s how it goes for the company that is backed by the Stena owner.
Nordic Seafarm was founded by six researchers back in 2016 to investigate the possibilities of cultivating climate-smart alternatives in the oceans. It’s about seaweed and the green plant called sea lettuce.

Last year we wrote that the company made common cause with the then newly formed investment company Ocean Collective. The idea with the company, which is half-owned by the two companies, is to develop several new food concepts where marine ingredients should be prominent.

”Seaweed is a completely renewable crop that can reduce the demand for traditional agricultural products while helping to save the oceans by absorbing carbon dioxide and strengthening biodiversity,” said Simon Johansson, CEO and founder of Nordic Seafarm, at the time.

Now the fresh financial statements have arrived from Nordic Seafarm. And it is moving forward. Turnover increased by 76 percent and landed at SEK 2.2 million.

The company has harvested around 50 tons of seaweed and sea lettuce on its eight-hectare rigs. These have been sold to 108 direct paying customers, of which 94 were in the food segment.

King Carl XVI Gustaf and Queen Silvia have already tasted. It is the case that last year Nordic Seafarm’s products were delivered to the Nobel dinner for the second year in a row.

It’s a big device to farm at sea and it shows. Operating profit landed at minus 12.4 million kroner, an increase in the loss from minus 10.2 million in 2022.

Nordic Seafarm has taken in around SEK 30 million in capital. The largest owner is Dan Sten Olsson, principal owner and CEO of the Stena Group, and his wife Jane Olsson Thorburn. They own 10.35 percent each, according to the data service Eivora.

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