BlueInvest Day 2024: unlocking an ocean of opportunities

A gong signalled the start of the event, just as on the stock market: may the BlueInvest deal-making begin!

For the fifth time, BlueInvest Day came back to Brussels, bringing together a growing community of investors, innovative SMEs and start-ups in the blue economy.

Since its launch in 2019, BlueInvest has coached nearly 300 companies, providing targeted support in all business areas to bring innovation to market. The support has resulted in more than 60 closed deals with private investors worth nearly €300 million.

It is not surprising that 110 companies attended the event, taking advantage of the opportunity to meet one-to-one with some of the most prominent investors in the blue economy sector.

And not just one-to-one. As per tradition, three pitching sessions took place before of a jury of investors, ready to ask burning questions to the companies presenting.

Pitching innovative ideas to the investors’ community

14 pitchers, divided into 3 categories, competed for the prestigious BlueInvest Awards.

• For the “Net Zero, Ocean Pollution and Water Management” category, the German-based company ICODOS won over investors with its patented e-methanol production technology.
• For “Sustainable Food and Feed from the Ocean”, Poseidona scored the prize. The company extracts plant-based proteins from algal waste and invasive algae species, a brilliant way to value biomass that would otherwise be discarded or harmful.
• SmartOcean was awarded the prize in the category “Blue Deep Tech and Ocean Observation”. This Norwegian company crafts smart buoys that help fishers locate their gear, even in challenging weather conditions.
• Seawater Cubes won the People’s Choice Award. The company won over the hearts and minds of the public with its aims of establishing a decentralised supply of fresh sea fish using closed recirculation aquaculture systems.

New investment trends in the blue economy were unveiled

The remarkable success of BlueInvest in helping secure investments in ocean innovation is well reflected in the investment trends in Europe.

The latest version of the BlueInvest Investor Report, launched at the event, shows a clear increase in funding activity for this area. According to the latest data, in just 10 years, the volume of disclosed investments tripled, exceeding €13 billion over the last five years.

All eyes are on aquaculture, blue renewable energy, blue tech and ocean observation, which were the three most dynamic sectors in terms of transactions.

From 2018 to 2023, aquaculture attracted (disclosed) investments totalling €930 million. Sustainable aquaculture is seen as a solution to some of the most pressing issues, such as providing nutritious food with a lower carbon footprint and environmental impact than other types of farming. As a result, the sector is popular with investors due to these dynamics and because the business models are well-established and understood.

Today, more than 30 private equity and venture capital funds focused on the blue economy are active in Europe. A huge change compared to 5 years ago, when we counted only a few pioneers investing in the sector.

Innovation in aquaculture: Blue Revolution Fund backed up by the European Investment Fund

There is also more good news for aquaculture companies looking for investors. At BlueInvest Day, the European Investment Fund announced its support to the Blue Revolution Fund, providing €20 million under the InvestEU Blue Economy fund.

This venture capital fund specialises in investing in early-stage aquaculture enterprises and supporting their scale-up. “We typically invest between a few hundred thousand and a few million euros in the first funding round, and we keep on following the companies over multiple rounds after, for around seven to eight years.” said Georg Baunach, one of the experts behind the Blue Revolution Fund.

Another BlueInvest day ended after in-depth discussions, matchmaking opportunities and face-to-face meetings.

As we strive towards a zero-net Europe, we need to bear in mind that we will not be able to achieve our green transition targets if we do not support and accelerate innovation in the blue economy and advanced ocean technologies. The BlueInvest initiative has done some pioneering work in this respect, bridging the gap between innovation and capital across Europe.

Background

BlueInvest is an EU platform to unlock investment opportunities in ocean innovation. It is funded by the European Maritime and Fisheries Fund and supported by the European Investment Bank Group.

BlueInvest offers investment and market readiness assistance to innovative SMEs and start-ups, promotes them to its growing investor community, and helps them to raise finance.

It offers dedicated capacity-building training for private investors, guiding them to specialise their investment strategies in the blue economy.

Examples of projects supported by BlueInvest