Marine pioneers secure funding for growth

A marine business that has found a way to improve ocean health through the cultivation of seaweed and shellfish is set for expansion.

Scarborough-based SeaGrown has secured a six-figure loan via NPIF II – Mercia Debt Finance. 

Founded in 2018 by former fisherman Captain Wave Crookes and marine scientist Professor Laura Robinson, SeaGrown operates a 25-hectare site offshore and has completed successful trials with windfarm operators, alongside a £2.8 million Government demonstration project. 

Its innovative Kelpedo system allows seaweed and shellfish to be grown at scale, operated by fishing boats, creating opportunities for local fleets while improving water quality, biodiversity and carbon capture.

SeaGrown offers a variety of seaweed products in partnership with local businesses and operates a Plant a Tree in the Sea initiative, helping corporate clients achieve their sustainability targets. 

Its largest potential market, however, lies with ports, offshore operators and utility companies looking to reduce their environmental impact.

The company has already collaborated with leading windfarm operators Orsted and RWE and was last year’s winner of an international biodiversity competition organised by RWE.

Bosses say the funding will support the company in scaling up operations and taking on new commercial contracts.

They add that the company, which currently employs 16 staff, aims to double its workforce in the next two years and expand to new sites across the UK and Europe, strengthening the UK’s role in the emerging blue economy.

Captain Wave Crookes, founder and operations director of SeaGrowb, said: “As someone from a fishing family who has spent their life on the water, I have been saddened to see the state the oceans are in. 

“Laura and I decided to dedicate our talents and experience to tackling this crisis. 

“With the Kelpedo system now tried and tested and backed by scientific data, it is exciting to be able to roll it out to the wider world.”

Andy Clough, investment manager at Mercia Debt, added: “There has been growing interest in cultivating seaweed in recent years as businesses start to recognise the benefits. 

“Seagrown’s unique system could drive rapid uptake by enabling cultivation at scale. 

“The funding will help the company to take on new commercial contracts and establish itself as a key player in the UK’s ‘blue economy’.”

The £660 million Northern Powerhouse Investment Fund II (NPIF II) fund, operated by British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help small and medium-sized businesses.

Lizzy Upton, senior investment manager at the British Business Bank, added: “SeaGrown is a great example of how innovative Northern businesses are leading the way in developing sustainable technologies that benefit both the economy and the environment. 

“This is the type of ambitious business we aim to support through the Northern Powerhouse Investment Fund II, and I look forward to seeing what is next for them.”

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