Seaweed firm grows with six-figure boost

A seaweed and shellfish cultivation firm helping improve coastal waters is eyeing expansion after a six-figure boost.

SeaGrown has been backed by NPIF II – Mercia Debt Finance.

Bosses say the funding will allow the Scarborough-based company to double its 16-strong team, take on new contracts and open further UK and European sites.

Founded in 2018, the business nurtures seaweed – said to improve water quality, increase biodiversity and draw down carbon – and shellfish used to boost ocean health.

Operating a 25-hectare site off Scarborough, it has completed a number of trials with wind farm operators including Orsted and RWE, and taken part in a £2.8 million Government demonstration project.

Its cultivation system has also been designed to be used by fishing boats.

Captain Wave Crookes, a former fisherman who works alongside marine scientist Professor Laura Robinson as SeaGrown’s founder and operations director, 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 our system now tried and tested and backed by scientific data, it is exciting to be able to roll it out to the wider world.”

NPIF II – Mercia Debt Finance is managed by Mercia Debt, as part of the Northern Powerhouse Investment Fund II.

Andy Clough, of Mercia Debt, said: “Seagrown’s unique system could drive rapid uptake by enabling cultivation at scale.

“The funding will help the company 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 is overseen by British Business Bank and provides loans from £25,000 to £2 million, and equity investment up to £5 million, to help a range of small and medium-sized businesses grow.

Lizzy Upton, British Business Bank senior investment manager, added: “This is the type of ambitious business we aim to support, and I look forward to seeing what is next for them.” 

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