The European Investment Fund has announced a €20m investment, as part of the InvestEU programme, in the Blue Revolution Fund, signifying a substantial boost for sustainable aquaculture. Targeting the restoration of marine ecosystems and fostering innovation, this investment is set to support early-stage aquaculture enterprises in achieving sustainability and innovation, the press release on Thursday 7 March.
Managed by Hatch Blue, an entity noted for its profound aquaculture industry experience, the Blue Revolution Fund is set to play a pivotal role in marine ecosystem restoration efforts, said the EIF. It does so in collaboration with The Nature Conservancy, an NGO, which is set to offer advisory services focusing on conservation and sustainability practices.
The fund’s strategy, which resonates with the European Green Deal, centres on minimising climate and environmental impacts. It seeks to fill gaps in the aquaculture sector by facilitating the commercial production of finfish, shellfish and seaweed. Additionally, it aims to introduce sustainable technologies and alternative seafood protein solutions, aligning with the strategic objectives of the European Union towards fostering a sustainable blue economy.
Marjut Falkstedt, chief executive of the EIF, expressed satisfaction with the fund’s mission in the announcement, highlighting its alignment with the EU’s commitment to promoting economic growth while safeguarding marine ecosystems. Georg Baunach, managing partner and co-founder of Hatch Blue, also welcomed the EIF’s investment, underscoring the shared commitment to advancing the sustainable aquaculture industry. Baunach emphasised the importance of collaboration and the value that Hatch Blue’s extensive network and expertise bring to the table.
The European commissioner for the environment, oceans and fisheries, Virginijus Sinkevičius, marked the occasion as a significant milestone for innovative aquaculture solutions in Europe. He lauded the InvestEU Blue Economy fund, initiated in 2022 with support from the European Maritime, Fisheries and Aquaculture Fund, for its ongoing success and focus on ocean ecosystem restoration. Sinkevičius stressed the importance of blending EU public funds with private capital to foster the development and scaling up of innovative technologies related to ocean sustainability.
By combining financial resources with expertise, this partnership is set to accelerate the development of sustainable aquaculture farming practices, make a significant contribution to tackling climate change, and help restore marine ecosystems, stated the EIF. The EIF is part of the European Investment Bank (EIB) Group.