Fremantle Seaweed, an aquaculture company focused on sustainable food sources and reducing methane emissions through seaweed cultivation, has successfully raised $1.26M through Birchal Crowd Sourced Funding (CSF).
This funding mechanism allows companies like Fremantle Seaweed to attract investments from both retail and wholesale investors online. The company aims to address climate change and food security by expanding its seaweed production, leveraging a 32ha aquaculture lease and technologies from existing industries.
Supported by a $4M grant from the State of Western Australia, which underscores the project's reduced risk, Fremantle Seaweed plans to scale up its operations.
Mick Holland Installing Longlines -- Source: Ryan Chatfield at Commotion Media .
Achievements include assembling a skilled team, securing a significant aquaculture lease, conducting successful trials, and establishing partnerships for expansion.
The recent funding will be matched by the State of WA, facilitating increased production capabilities, the deployment of a hatchery, the design of a specialized vessel, and further team and partnership development to enhance the seaweed industry in Australia.