EU launches US$6M blue economy funding to boost regenerative ocean farming 

EUROPE – The European Commission has unveiled a new €5.7 (approximately US$6.3) million funding initiative to bolster sustainable blue economy projects across European sea basins. 

This funding, part of the European Maritime, Fisheries, and Aquaculture Fund (EMFAF), is designed to promote the development of strategic regional flagship projects. 

These projects will advance regenerative ocean farming and algae innovation, aligning with the EU’s broader goals of creating a sustainable, circular economy and achieving net-zero climate targets.

The funding call is part of the EU’s ongoing effort to harness the vast potential of its seas and coasts, fostering innovation and technological advancement in sectors such as fisheries, aquaculture, marine renewable energy, and blue biotechnology. 

The EU’s vision for a sustainable blue economy closely aligns with its environmental and climate ambitions, making these initiatives crucial for long-term economic and ecological resilience.

One of the core focus areas under this funding initiative is the creation of strategic interregional partnerships that develop cutting-edge solutions in several key sectors. 

These sectors include fisheries, aquaculture, coastal and maritime tourism, and blue biotechnology. 

Marine renewable energy is also a priority, with the initiative seeking to drive progress in how Europe taps into its maritime resources for clean, renewable power.

The funding targets projects within specific European sea basins, including the Black Sea, Atlantic Ocean, Western Mediterranean Sea, and the EU Outermost regions. 

This approach allows for tailored solutions that reflect each region’s unique challenges and opportunities, fostering cooperation and innovation across borders.

Focus on regenerative ocean farming 

A significant portion of the funding is earmarked for regenerative ocean farming, a growing sector that focuses on sustainable practices like seaweed and shellfish farming. 

These projects aim to demonstrate the feasibility and environmental benefits of such practices. 

Seaweed farming, in particular, is gaining traction as an eco-friendly industry with the potential to support ocean health, carbon sequestration, and sustainable food systems.

As seaweed cultivation expands across the EU and globally, this funding is expected to spur further innovation in the algae sector, promoting the development of new products and technologies. 

Eligible regions for regenerative ocean farming projects include the Black Sea, Baltic Sea, North Sea, Atlantic Ocean, and Mediterranean Sea, making this a broad-reaching initiative with the potential to impact multiple industries and environmental systems.

Aligning with EU’s climate and economic goals

This funding call reflects the EU’s commitment to achieving a sustainable blue economy, focusing on projects contributing to climate action, ecosystem restoration, and biodiversity conservation. 

By supporting regenerative ocean farming and algae innovation, the EU aims to leverage these industries’ ecological benefits, including carbon capture and the reduction of nutrient pollution.

In addition to environmental sustainability, the funding will help drive economic growth in coastal communities, providing new opportunities for jobs and investment. 

This dual focus on environmental and economic resilience is critical as Europe seeks to meet its climate targets and transition to a more sustainable economy.

The deadline for submitting proposals for the blue economy funding is February 18, 2025. Interested parties across the eligible sea basins are encouraged to develop innovative projects contributing to the EU’s vision for a sustainable and regenerative ocean economy.

Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE.