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European Investment Bank backs Oceanloop with €35 million investment

Germany 14/11/2024 | Oceanloop, already operating in Munich and Kiel, sets its sights on Gran Canaria for a large-scale shrimp farm

Oceanloop shrimp land-based farm in Germany

The European Investment Bank (EIB) has granted a €35 million loan to German start-up Oceanloop, a company at the forefront of sustainable aquaculture technology. This funding, under the European Union’s InvestEU guarantee programme, will enable Oceanloop to expand its operations in Germany and establish an innovative shrimp farm in Gran Canaria, Spain.

The EIB loan will support two major developments: increasing the capacity of its Kiel facility from 5 to 60 tonnes per year and building a large-scale, land-based shrimp farm in Gran Canaria, capable of producing 2,000 tonnes annually.  

Oceanloop employs recirculating aquaculture systems (RAS), which allow full control over production parameters, ensuring efficiency and sustainability. Their technology leverages artificial intelligence and computer vision to monitor animal welfare in real-time. Additionally, the company embraces a circular economy model, converting waste into biogas and sustainable fertilisers, while also planning to produce renewable energy through wind turbines and solar panels.  

“Oceanloop’s cutting-edge technology marks a major step forward in sustainable seafood production. This project aligns perfectly with the EU’s goals of reducing carbon emissions and protecting the environment, all while meeting the growing demand for sustainable protein sources,” said EIB Vice-President Nicola Beer.

Reducing reliance on imports

Oceanloop shrimp land-based farm in Germany

The tropical whiteleg shrimp (Litopenaeus vannamei), the most widely farmed seafood species globally, enjoys high demand across the EU, which largely relies on imports. Oceanloop’s modular and scalable technology aims to set a new benchmark in sustainable shrimp farming, strengthening food security and sustainability in Europe.  

Oceanloop’s founder and CEO, Fabian Riedel, highlighted the importance of the EIB’s support: “As demand for sustainably produced animal proteins rises sharply, supply chains are increasingly at risk due to overfishing and the challenges of conventional aquaculture in the face of climate change. We’re thrilled that the EU recognises the value of our technology and is helping us scale it up to industrial levels.”  

About InvestEU and the EIB

The InvestEU programme aims to mobilise over €372 billion in investment by 2027, supporting projects that drive innovation, sustainability, and digital transformation within the EU. Since 2015, the EIB has channelled €6 billion into venture debt, backing more than 200 start-ups in fields such as cleantech and biotechnology.