European Investment Fund is providing €20 million to help drive innovation and sustainability in the aquaculture industry.
The funding under InvestEU and managed by Hatch Blue will help the Blue Revolution Fund work together with The Nature Conservancy to support endeavours aimed at restoring marine ecosystems.
The EU Commissioner for the Environment, Oceans and Fisheries, Virginijus Sinkevičius said that the investment marked a significant milestone in supporting innovative aquaculture solutions across Europe.
“I am glad that the ‘InvestEU Blue Economy fund’, launched in 2022 with the support of the European Maritime, Fisheries and Aquaculture Fund, continues its successful progress through the ‘Blue Revolution Fund’ with a strong focus on restoring ocean ecosystems,” he said.
“Blending EU public funds with private capital is crucial in developing and scaling up innovative technologies related to the ocean.”
By combining financial resources and expertise, the collaboration between InvestEU and the Blue Revolution Fund is better placed to accelerate the development of sustainable aquaculture farming practices, address climate change, and contribute to the restoration of the marine ecosystem, says the EU.
The EIF is part of the European Investment Bank Group, helping micro, small and medium-sized enterprises across the continent to access finance.
