BASF Venture Capital joins forces with Aqua-Spark to invest in tropical marine agriculture company Sea6 Energy

THE WHAT? BASF Venture Capital has joined forces with Dutch investment fund Aqua-Spark to invest in tropical marine agriculture company Sea6 Energy as part of a Series B round.

THE DETAILS Sea6 Energy is said to be a leader in in the production and processing of tropical red seaweed, and has adapted its cultivation technology to the conditions in deeper water and adverse weather conditions and covers both parts of the value chain with its integrated business model.

Other existing investors include Tata Capital Innovations Fund. With this investment, Sea6 Energy will complete its Series B transaction of INR 1402 million (approximately US$18.5 million) in total.

THE WHY? Markus Solibieda, Managing Director of BASF Venture Capital GmbH, said, “Sea6 Energy convinced us with its integrated business model. 

“With its extensive experience in the field of biotechnology, the team has created very good upstream conditions for cultivating red seaweed as biomass on a large scale while also demonstrating success downstream through its biorefinery. This opens up opportunities for transitioning traditionally crude-dependent industries such as the chemical industry to renewable feedstocks.”