European Investment Fund Fuels Blue Economy with €20 Million Aquaculture Investment

European Investment Fund Fuels Blue Economy with €20 Million Aquaculture Investment

(IN BRIEF) The European Investment Fund (EIF) has announced a €20 million investment under the InvestEU program to support the Blue Revolution Fund, managed by Hatch Blue. This investment aims to boost early-stage aquaculture enterprises, address market deficiencies, and promote innovation and sustainability in the sector. The fund’s strategy aligns with the goals of the European Green Deal, focusing on climate impact and environmental sustainability. In partnership with The Nature Conservancy, the Blue Revolution Fund seeks to restore the marine ecosystem. The investment underscores the EU’s commitment to supporting impactful investments in the blue economy, combining financial resources and expertise to accelerate the development of sustainable aquaculture practices and contribute to the restoration of marine ecosystems.

(PRESS RELEASE) LUXEMBOURG, 7-Mar-2024 — /EuropaWire/ —  The European Investment Fund (EIF), part of the European Investment Bank Group and established to support Europe’s micro, small and medium-sized enterprises (SMEs), has pledged €20 million under the InvestEU program to bolster the Blue Revolution Fund, aimed at propelling sustainable aquaculture investments. This initiative underscores the EIF’s commitment to fostering innovation and sustainability in the aquaculture sector, in line with the objectives of the InvestEU programme.

Announced at BlueInvest, the EIF’s support for the Blue Revolution Fund highlights its dedication to driving positive change in the blue economy. Managed by Hatch Blue, the Blue Revolution Fund seeks to address market deficiencies and drive innovation in early-stage aquaculture enterprises. It aims to support the commercial production of finfish, shellfish, and seaweed while introducing sustainable technologies and alternative seafood protein solutions. The fund’s strategy aligns with the goals of the European Green Deal, focusing on climate and environmental impact, and is set to contribute significantly to the restoration of the marine ecosystem.

A notable aspect of the Blue Revolution Fund is its collaboration with The Nature Conservancy, which will provide advisory services in conservation and sustainability, further enhancing the fund’s impact on marine ecosystems.

Marjut Falkstedt, Chief Executive of the EIF, expressed enthusiasm for supporting the Blue Revolution Fund’s mission. She commented, “We are very glad to support the Blue Revolution Fund in its mission to drive innovation and sustainability in the aquaculture sector, with the backing of the InvestEU programme. This investment is in full alignment with the EU’s commitment to fostering a blue economy that promotes economic growth while protecting our marine ecosystems.”

Georg Baunach, Managing Partner and Co-founder of Hatch Blue, welcomed the EIF’s investment, noting its alignment with their mission to foster the growth of a sustainable aquaculture industry. “We are thrilled to welcome the EIF as an investor in the Blue Revolution Fund. It is encouraging to see the EIF’s commitment to the blue economy, a commitment that resonates deeply with our own mission to foster the growth of a sustainable aquaculture industry. With the fund’s second close now completed, we are exceptionally well-positioned to support entrepreneurs in our sector. As a specialized fund, our approach is to collaborate closely with teams where we can offer significant value. The expertise and extensive network within our investment team, the broader Hatch Blue group, and our extended ecosystem play a critical role in providing such value.”

Virginijus Sinkevičius, EU Commissioner for the Environment, Oceans, and Fisheries, hailed the progress of the InvestEU Blue Economy fund through the Blue Revolution Fund. He said, “Today marks another significant milestone in supporting innovative aquaculture solutions across Europe. I am glad that the ‘InvestEU Blue Economy fund’, launched in 2022 with the support of the European Maritime, Fisheries and Aquaculture Fund, continues its successful progress through the ‘Blue Revolution Fund’ with a strong focus on restoring ocean ecosystems. Blending EU public funds with private capital is crucial in developing and scaling up innovative technologies related to the ocean.”

The EIF’s participation in the Blue Revolution Fund underscores the European Union’s commitment to supporting impactful investments in the blue economy. Through this collaboration, financial resources and expertise will be combined to accelerate the development of sustainable aquaculture farming practices, address climate change, and contribute to the restoration of the marine ecosystem.

Background Information

The European Investment Fund (EIF) is part of the European Investment Bank Group, supporting Europe’s micro, small, and medium-sized enterprises (SMEs) by helping them access finance. The EIF designs and develops venture and growth capital, guarantees, and microfinance instruments to target this market segment, fostering EU objectives in innovation, research and development, entrepreneurship, growth, and employment.

Hatch Blue is a global specialist firm dedicated to advancing farmed and alternative seafood, driving innovation, supporting impactful businesses, and fostering a sustainable transition. With operations across several countries, Hatch Blue is committed to creating a climate-smart, sustainable, and equitable seafood future.

The InvestEU program provides crucial long-term funding to the European Union, leveraging substantial private and public funds to support a sustainable recovery. It aims to mobilize private investments for EU policy priorities like the European Green Deal and the digital transition, making funding for investment projects in Europe simpler, more efficient, and more flexible.

The InvestEU Blue economy Fund is a dedicated equity fund for the blue economy (i.e. economic activities based on or related to the oceans, seas and coasts) under the InvestEU Equity product within the InvestEU Fund. It is made possible by a top-up contribution from the European Maritime, Fisheries and Aquaculture Fund matched with additional InvestEU resources and EIF/EIB own funds. It is expected to mobilise up to 500 million of additional EU finance until 2027, to be made available through intermediaries such as venture capital funds to innovative and sustainable blue economy SMEs and start-ups. The initiative supports research, development, demonstration, upscaling, commercialisation and scaling of clean technologies or environmental solutions.

Press contacts 

Serena Sertore, s.sertore@eib.org, tel.: +352 4379 70859
Website: www.eif.org — Media Office +352 4379 21000; press@eib.org

Georg Baunach, georg@hatch.blue, tel.: +491725463249
Website: www.hatch.blue

Flora Matthaes, flora.matthaes@ec.europa.eu, tel.: +32 2 298 39 51

SOURCE: European Investment Fund