Company also aims to expand land-based shrimp farming operations in Germany.
The European Investment Bank (EIB) is lending approximately $38 million to Oceanloop, a German aquaculture technology startup, to help expand its operations in Germany and establish the first large-scale land-based shrimp farm in Spain. The Munich-based company specializes in recirculating aquaculture systems (RAS), a method of indoor seafood farming designed to be more sustainable than traditional open-water methods.
The EIB loan will support two major projects: an expansion of Oceanloop’s research and development facility in Kiel, increasing its annual production from about 11,000 to 132,000 pounds, and the construction of a high-capacity inland shrimp farm in Gran Canaria, Spain, which is expected to produce 4.4 million pounds per year.
“Developed here in Europe, their innovative technology opens new ways to produce seafood environmentally friendly by integrating new technologies in their aquaculture business,” said EIB Vice-President Nicola Beer. “Public water usage and CO2-emissions support preserving the environment while producing protein-rich high-quality seafood on land.”
White-leg shrimp is the most widely farmed seafood species worldwide, with annual production exceeding 11 billion pounds. The European Union (EU) primarily relies on imports to meet consumer demand. Oceanloop’s land-based aquaculture technology offers an alternative to improve sustainability, efficiency and production quality. Its software-controlled, modular farming systems are scalable and adaptable to different locations, aiming to provide a more controlled and potentially lower-impact shrimp farming method compared to traditional approaches.
Taking a circular economy approach, the company employs vapor-thermal carbonization to convert organic residues into bio-coal-based fertilizer and soil enhancers, while anaerobic digestion transforms waste into biogas. To further reduce its environmental footprint, Oceanloop plans to generate renewable energy on-site through wind and solar power, supporting its goal of self-sufficient, low-impact aquaculture.
“While the demand for sustainably produced animal proteins will increase significantly in the coming years, their sources are particularly at risk today,” said Oceanloop’s founder and CEO Fabian Riedel. “Decades of overfishing and an unsustainable aquaculture industry that cannot be controlled in times of climate change are leading to an increasing risk of supply chain disruptions to Europe. We are thrilled that the EU has recognized this and is helping us to bring our innovative technology to industrial-scale commercialization.”
Currently, Oceanloop operates two land-based shrimp farms in Kiel and Munich, testing new ways to produce high-quality shrimp. Through its sister company, Honest Catch, it supplies fresh shrimp directly to restaurants, supermarkets and consumers. The company provides a sustainable, traceable and animal-friendly alternative to imported shrimp. Using advanced technology, Oceanloop allows farmers to control all aspects of production, making the process more efficient and reducing the use of natural resources. It also employs digital tools like computer vision and AI to monitor shrimp health in real-time, helping to improve animal welfare.
The EIB loan is backed by the InvestEU program, which aims to generate more than $405 billion in additional investment in new technologies by 2027. The funding aligns with InvestEU’s objective of advancing research, development, and innovation, supporting projects that drive sustainable economic growth and technological progress.
Source - https://www.globalseafood.org
