The Dutch sustainable oceanic aquaculture company Kelp Blue has been chosen to develop a giant kelp farm on the Namibian coast near the port city of Lüderitz for around $60 million. A partnership has been concluded to this effect between Climate Investor Two (managed by Climate Fund Managers), Kelp Blue and the Namibia Infrastructure Development and Investment Fund (NIDIF), both managed by Eos Capital, a Namibian private equity fund manager.
Namibia may well be home to the world’s first large-scale kelp farm. Climate Investor Two, Kelp Blue and the Namibia Infrastructure Development and Investment Fund (NIDIF) recently signed an agreement to develop a giant kelp farm in the southern African country. According to Climate Fund Managers, the fund management company that manages Climate Investor Two (CI2) the Kelp (a fast-growing marine algae, editor’s note) will be grown in nutrient-rich waters between 3 and 10 km off the Namibian coast near the port city of Lüderitz in the region ǁKaras. According to Climate Fund Managers, an investment of around 60 million USD, or almost 916 million N$, will be required over a five-year period. The funds will come from local and international sources through CI2 and NIDIF, managed by Eos Capital, a Namibian private equity fund manager.
Protecting marine biodiversity
Kelp Blue (managed by Eos Capital) will cultivate the giant kelp farm. These algae will be harvested sustainably for the manufacture of food products, bio stimulants and alternative textiles. More importantly, “the giant kelp farm will enable Namibia to absorb CO2 released into the environment faster than land-based forests; restore the health of marine ecosystems through commercially viable solutions that improve fish reproduction. The kelp farm will also limit acidification and deoxidation of the oceans,” explain Climate Fund Managers. The development of a giant kelp farm in Namibia will also help create jobs in coastal communities and contribute to economic growth in peripheral areas.
“We are proud to partner with Kelp Blue in its efforts to accelerate the resilience of marine biodiversity. Together we will address the effects of climate change on marine and coastal resources, and build the capacity of local decision-makers and regulatory authorities to manage marine resources in an integrated manner,” said Andrew Johnstone, CEO of Climate Fund Managers. By implementing this project, Kelp Blue will contribute to the achievement of the United Nations (UN) Sustainable Development Goal (SD Goal) number 14, which calls for the conservation and sustainable use of oceans, seas and marine resources for sustainable development.