Ocean Rainforest raises $1.5 million to scale farming operations
Ocean Rainforest, the Faroe Islands company, has raised US$1.5 million in an investment round led by the World Wildlife Fund (WWF), which contributed $850,000.
Besides WWF, the rest funding came from a mix of existing Faroese backers and board members, including Gregersen himself.
“Seaweed cultivation holds the potential to reduce these pressures and contribute to a more balanced relationship with nature,” WWF president and CEO Carter Robertssaid.
“This investment by WWF and others will allow Ocean Rainforest to deploy new farms at scale, enabling the company to meet the growing demand for its products,” Olavur Gregersen, CEO of Ocean Rainforest, announced.