The EIBThe loan is intended to support Oceanloop's expansion in two key phases: First, the company will invest the funds in expanding its research and development farm in Kiel, Germany, from five to 60 tons of annual capacity. Second, the company plans to build the first industrial indoor farm for white tiger shrimp on Gran Canaria, with an annual capacity of 2,000 tons.
Oceanloop was founded in Munich in 2012 and is a German food-tech company that operates two land-based shrimp farms in Kiel and Munich in the pilot phase and, through its sister company Honest Catch The company supplies restaurants, supermarkets, and consumers directly with premium-quality shrimp. The company offers a sustainable, traceable, and animal-welfare-compliant alternative to imports from countries outside the EU.
Oceanloop's technology enables operators to control all production parameters to increase efficiency and optimize the use of natural resources. Oceanloop also uses digital technologies such as computer vision and AI to detect biomass and stress levels in real time, ensuring better animal welfare.
The company is also working on reducing waste through a circular economy. Waste materials are converted into biochar fertilizer through thermal carbonization and into biogas through anaerobic digestion. The company also plans to generate renewable energy for its own consumption with a wind turbine and PV system.
“New ways to produce seafood in an environmentally friendly way”
EIB Vice-President Nicola Beer about the innovative strength of the Munich-based company:
"The European Investment Bank supports European technology pioneers with European ambitions who are driving innovative solutions. Oceanloop is a perfect example of our commitment to supporting startups and scale-ups in their growth phase with the right financing solutions. Oceanloop's innovative technology, developed in Europe, opens new avenues for environmentally friendly seafood production by integrating new technologies into aquaculture. Reducing water consumption and CO2 emissions helps protect the environment while producing protein-rich, high-quality seafood on land."
And Fabian Riedel, founder and CEO of Oceanloop, adds:
"While demand for sustainably produced animal proteins will increase significantly in the coming years, their sources are particularly vulnerable today. Decades of overfishing and an unsustainable aquaculture industry that is difficult to control in times of climate change are leading to an increasing risk of supply chain disruptions to Europe. We are very pleased that the EU has recognized this and is supporting us in commercializing our innovative technology on an industrial scale."
The EIB loan is supported by the InvestEU programme, which aims to trigger additional investments in new technologies of more than EUR 372 billion by 2027.
