The Investment Committee for the Origination Facility of the Dutch Fund for Climate and Development (DFCD) approved a EUR 250,000 grant and SNV technical assistance package for SeatechEnergy on 15 May 2020.
The grant will help to further develop a proposal to test and build a seaweed farming cooperative project in South Sulawesi (Indonesia) using SeatechEnergy’s developed pod technology.
This seaweed farm will sustainably cultivate Gracilaria, which is a group of warm water seaweeds. Agar is a common food ingredient that is extracted from this seaweed species. Once fully operational, the Takalar site is expected to produce 65,000 tons of seaweed per annum, create employment for over 500 men and women, sequester 275 tons of CO2 from the ocean per annum, and support the biodiversity of marine life in this area of the coral triangle.
The DFCD supports the development of new farming methods, which can improve climate change resiliency at scale. Both the DFCD and SeatechEnergy are positive that this project can contribute to achieving Sustainable Development Goal 13 by promoting climate-resilient, economic growth for the local community.
About the DFCD
The Dutch Fund for Climate and Development (DFCD) enables private sector investment in projects aimed at climate adaptation and mitigation in developing countries. The Dutch Ministry of Foreign Affairs has made available €160 million to increase the resilience of communities and ecosystems most vulnerable to climate change. The DFCD is managed by a pioneering consortium of Climate Fund Managers (CFM), Worldwide Fund for Nature Netherlands (WWF-NL) and SNV Netherlands Development Organisation, led by the Dutch Entrepreneurial Development Bank, FMO. For more information, please visit: www.thedfcd.com
SNV is a not-for-profit international development organisation that makes a lasting difference in the lives of people living in poverty by helping them raise incomes and access basic services. We aim for premium quality and focus on only three sectors: agriculture, energy and water, sanitation and hygiene (WASH). With a long-term, local presence in over 25 countries in Asia, Africa and Latin America, we know how governments work, which written and unwritten rules exist, and how relationships are built. Implementing our mission exclusively through project financing requires us to work efficiently and invest in operational excellence every day. Our team of more than 1,300 staff is the backbone of SNV.
SeatechEnergy is a privately held company based in Hilversum, The Netherlands. Founded in 2015, the company developed patented technologies for the large-scale cultivation and anaerobic digestion of organic material such as seaweed. The company is working on various applications of seaweed including but not limited to agar, protein, animal feed and biofuels. SeatechEnergy is a spin-off company from the Inrada Group which was founded in 1955 and specialized in the design and manufacture of systems and controls for Oil & Gas systems operating in extreme environmental conditions. For more information, please visit: www.seatechenergy.com
For more information about this project, contact:
To read the full project disclosure document, please download it here.