CI2 has been invited by Dutch company Kelp Blue to invest construction equity capital as well as actively participate as codeveloper to develop, finance, build, own and operate a project aimed at the commercial production of kelp from multiple offshore floating giant-kelp forest farms to be located in close proximity to the town of Lüderitz in southern Namibia, starting with a pilot project from 2020 to 2022.
Our Development Partner
Kelp Blue
We Invest
Up to USD 2.4 million
Development Fund funding
Estimated Project Impact
820 ha of coastal and marine ecosystem under management
520 construction jobs
CI2 E&S Rationale
The Project has been assigned a B+ rating which reflects the potential for largely reversible social or environmental impacts that can be addressed through relevant mitigation measures.
Funding Objective
Parties have agreed on commercial terms and are now in process of engaging the several advisors to further map out the business case, including:
- Proving the technical feasibility of Kelp Blue’s offshore engineering solution
- Confirmation of local and international market and pricing commercial quality confidence levels in forecast cashflows.
Region
Africa
Country
Namibia
Business Model
Seaweed Cultivation
Environmental & Social Category
B+
Sector
Oceans
Project Location
Why Climate Investor Two Wants to Invest in This Project
The Project will entail the cultivation of a crop with carbon sequestration potential and the potential to displace more carbon-intensive land-based agriculture. A specialist Rio Marker assessment is being conducted to assess the Project’s carbon sequestration potential and confirm whether the Project can achieve a score of ‘2’ for Mitigation as provided for under the wider CRS purpose code: 311 – Agriculture.
