This past year marked major milestones for Sustainable Ocean Alliance (SOA) on our ocean impact investing journey.
In 2023, SOA deployed the most it ever has in a single year—$1.08 million USD in grants and investments, and another $694,000 through our affiliate venture capital fund, Seabird Ventures. This two-pronged approach helped startups face increasing fundraising challenges.
2023 saw higher interest rates, uncertainty surrounding the future of U.S. climate policies, and the climate venture market hit a 30% drop. Despite persistent obstacles, SOA is proud to have deployed $4.66 million uSD to visionary founders and grantees since 2018.
We were honored to launch the Ecopreneur Network and introduce the inaugural Class of 2023. In deepening our commitment to visionary ocean startup founders, we pioneered an entirely new model of support for the ocean-climate sector. This leap ushered in a new era of for-profit ocean innovation. Gone is the age of costly, time-bound accelerators. Our founders now receive lifetime venture support.
The mentorship and funding we’ve poured into the sector have advanced equity for ocean advocates of all ages, genders, geographies, and backgrounds. The proof is in the results: the average age of SOA grantees is 28; half of all Ecopreneur Network startups are female-founded or led, and 56% of all grant initiatives to date have been female-led. In 2023 specifically, $676,000 USD in investments and grants went directly to developing countries, and Indigenous people led 16% of grant-funded initiatives.
Measured against 30+ scientific metrics, the collective efforts of our investees and grantees have decreased pollution, reduced bycatch, mitigated greenhouse gases, and beyond—more so than in any previous year SOA has recorded.
This success is only possible thanks to SOA's supporters who fueled our unprecedented impact in 2023.
I know our founders and grantees will continue building on the foundation laid this past year. And 10 years after its founding, SOA is doubling down on our commitment to fueling their evolution, while ushering in new initiatives over this next decade.
Daniela V. Fernandez
Founder & CEO
Sustainable Ocean Alliance
SOA differentiates itself in the ocean impact space by being able to rapidly provide nimble, friendly capital to a diverse global community of ocean-focused people and organizations.
We added over 100 solutions to our porfolio in 2023, bringing our total to 376 (56 companies and 320 grants) across 83 countries since 2018.
Of the 130+ solutions who contributed data to the 2023 report, SOA and our affiliate venture capital fund Seabird Ventures have supported them to-date with over $4 million USD in grants and investments, enabling the creation of blue jobs and stimulating blue economies in critical ecosystems.
Data are from the time of first investment in 2018 and first grant in 2020.
SOA takes a unique approach to solving key ocean challenges by deploying capital through a combination of grants to grassroots orgs and leaders as well as investments in for-profit startups. This strategy has led to SOA supporting a diverse community of people driving ocean solutions and measuring a range of metrics and magnitudes.
For this report, SOA collected self-reported data from companies and grantees active in 2023. We analyze and aggregate data guided by a methodology informed by scientists, investors, startups, and ocean experts. We classify data by five critical ‘areas’ of impact that relate to UN SDG and Ocean Decade 2030 targets, and map to our goal to decarbonize, detoxify, regenerate, and replenish, the planet.
This report represents the work of hundreds of people dedicated to restoring ocean health and we are indebted to them as the driving force behind SOA.
—
Craig Dudenhoeffer
Chief Impact & Investments Officer
Co-founder, Ocean Solutions Accelerator
Taylor Garrett
Associate Director of Grants & Impact
2023 IMPACT: 28,212 Tonnes of CO2 Avoided or Removed | 16 Countries
Decarbonization was a focus of our 2023 grantmaking and investments strategy. As a result of increased capital deployed as well as scaling by previously supported solutions, the amount of carbon dioxide removed and avoided increased significantly as compared to 2022. An estimated 18,959 tonnes was sequestered by blue carbon ecosystems (mangrove, seagrass, marsh, kelp) and 9,253 tonnes was avoided, primarily through more efficient and sustainable material production. According to the EPA, the average passenger vehicle emits 4.6 tonnes of carbon dioxide per year, so these reductions are roughly equivalent to taking over 6,000 cars off the road for a year.
2023 IMPACT: 17,981 Tonnes of Solid Pollution Avoided or Removed and 4,000 Tonnes Upcycled | 26 Countries
Detoxifying our planet requires removing waste and avoiding creating even more through efficient use and re-use, as well as maintaining ecosystems that naturally filter and remove waste. In 2023, SOA solutions removed 12,400 tonnes of pollution, primarily in India, Indonesia, Kenya, Colombia, Ghana, Guatemala, and the United States. Over 5,000 tonnes of waste was avoided, mostly by startups implementing alternative solutions for product, packaging, and fishing gear. In addition to mitigating solid waste, over 150,000 cubic meters (60 Olympic swimming pools) of water wasn’t polluted by toxic brine or agricultural runoff thanks to solutions leveraging bio and technical remediation.
2023 IMPACT: 227 Hectares of Coastal Ecosystems Restored | 19 Countries
Regenerating ecosystems is a broad category, but in terms of 2023 SOA solutions it predominantly means seeding and monitoring mangroves, seagrass, kelp, marsh/estuaries, and reefs. In 2023, 60% of all area restored was mangrove forest, and over 35,000 mangroves were planted. Over 10,000 corals were planted across the Bahamas, Indonesia, Madagascar, Tanzania, Brazil, and Timor-Leste, and 736 hectares of coastal ecosystems were monitored for ongoing restoration progress. The average New York City block is two hectares, meaning a relatively small group of organizations restored over 100 city blocks in a year.
2023 IMPACT: 4,203 Tonnes of Blue Food Generated and 215 Tonnes of Catch Avoided | 16 Countries
Replenishing our fisheries requires improving monitoring and fishing practices, expanding biodynamic aquaculture and mariculture, and implementing more sustainable alternatives to environmentally taxing foods and agricultural processes. Exploring the impact of kelp as a sustainable food source and carbon sink was a focus of 2023 grantmaking, and included: grants to three farms in Alaska and British Columbia; researching kelp and potential farming impacts in Ireland and Namibia; and using AI to estimate its biomass in Canada and the Philippines. Over 200 square kilometers of fisheries were monitored by advanced technologies meant to improve efficiency and reduce waste, and 405 vessels were using new tech to make fishing more sustainable.
2023 IMPACT: 1.9M Hours of Data Collection, 139 Reports Published, 12,325 People Trained, 136,566 People Engaged by Grant Initiatives | 36 Countries
This impact area pertains to equipping decision-makers and the next generation of ocean advocates with accurate data, as well as providing education, opportunities, and exposure to people that need it most. Many of the recipients are students and young grassroots leaders (average age of 26) working on small but locally impactful initiatives. Advocating for a moratorium on deep sea mining was a focus in 2023, and grants supported activation in 14 countries and helped increase the number of signatures on SOA’s joint petition for a moratorium to over 300,000.
In 2023, SOA awarded 98 grants and invested in 12 companies—operating across a combined 61 countries—in addition to welcoming 11 new companies to the Ecopreneur Network. The average SOA grant was $5,930 and the average investment amount was $71,800 by SOA and $138,800 by Seabird Ventures.*
Of all capital deployed, 38% supported operations in developing countries and $302,000 was invested in companies that joined the Ecopreneur Network in 2023.
SOA funded more grants and investments in 2023 than any previous year.
*All dollar amounts are in USD.
Grant
Indonesia, Netherlands, Colombia
Region
Ecosystems and Species: Preservation & Restoration
Marcel Kempers
2023
Open Coral AI aims to accelerate data analysis and reporting of coral reef health by developing a free, online tool that employs AI to address bottlenecks in coral reef monitoring. Unlike many available tools that require sophisticated equipment, Reef Support (a Netherlands-based social enterprise) is developing a tool that allows for citizen scientists to participate in coral monitoring with easy-to-use cameras. Data will be collected from reef monitoring sites in Indonesia and Colombia, with staff and volunteers trained to take pictures, in coordination with Indonesia Biru Foundation and Corales de Paz. The collected data will be labeled and used to create a baseline AI model, validated by external experts, and tested in-situ by partner organizations. The final version of the AI tool, along with a guidebook, will be launched and shared via social media by the end of 2023.
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Canada
Region
Ecosystems and Species: Preservation & Restoration
Tom Campbell
2023
Rapidly changing ocean environments has led to the global decline of kelp forests and the ecological services they provide. Although excitement around kelp forest restoration has grown in recent years, the capacity to implement large-scale projects has remained largely unchanged due to an insufficient supply of kelp seed. Through this project, the startup West Coast Kelp (WCK) will construct an efficient and innovative system to produce kelp seed (at a lower cost than other producers), plant 400 kelp plants, and monitor their growth over a 4-month period. By increasing the supply of high quality kelp seed, WCK will enable Canada's emerging kelp restoration projects focusing on the other components of restoration such as modeling and genomics.
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Brazil
Region
Ecosystems and Species: Preservation & Restoration
Giovanna Scagnolatto
2023
Associação Tatauga Dive is a nonprofit along the Brazilian coast that exposes youth to ocean science and recreation through their TransforMAR project, which SOA has supported with multiple grants since 2020. In 2022, it was endorsed by the IOC Secretary as part of UN Ocean Decade. This grant supports their exciting initiatives to establish a coral nursery in a local public school, which will be implemented into their science curriculum. They will evaluate the Paraty mangrove conservation status, carried out by their students. Since the major mangrove problem in Paraty is an expansion of the enterprises as marinas, we expect to raise awareness of the Paraty population of this situation to increase political pressure to conserve the mangrove areas. And in continuation of their core mission, they will take 110 local students diving to expose them to the wonders of the ocean for the first time. Importantly, this initiative takes place in a location of high poverty, low education and ocean literacy, and no treated sewage. Brazil, with its 8,000 km of coastline and vast mangrove communities has great potential to impact blue carbon sequestration worldwide, but lags behind other countries due in part to the actions of the last political administration.
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Brazil
Region
Ecosystems and Species: Preservation & Restoration
Letícia Rama
2023
With this grant, Instituto Monitoramento Mirim Costeiro (IMMC) will build on previous SOA support for their work to educate and inspire children living in Garopaba, Santa Catarina, Brazil (Junior Ocean Guardian and Junior Coastal Monitors) by incorporating drone survey and data processing into their curriculum for 500 public school students. To date, MMC's curriculum includes traditional scientific methods which may become insufficient in the face of technological advances. Through the purchased and deployed drone, MMC will introduce children to advanced methods for monitoring biotic and abiotic interactions at the coastal interface. And by guiding them through simple analysis exercises, familiarize them with data science. Training the next generation is especially important in Brazil, which boasts the largest subtropical coastline in the world (8,000 km.) Ortho-mosaics of drone images will be produced as final products.
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Indonesia
Region
Greenhouse Gas Reduction: Blue Carbon & CO2e Removal or Avoidance
Indri Addini
2023
Carbon Ethics (PT Iklim Muda Sentosa) has received multiple grants from SOA to support the enhancement and scaling of their blue carbon activities to over four hectares in Dompak (where they are the only organization implementing restoration) and Pangkil Islands in the Indonesian state of Bintan. Indonesia is among the top global areas for blue carbon sequestration through mangrove forests. Through impactful partnerships and support from the World Resources Institute and the Indonesian Ministry of Environment and Forestry, Carbon Ethics is well positioned to continue their innovative leadership in this space. With this grant, they will conduct a feasibility study, select a new restoration site, establish a mangrove nursery, enhance their waste reduction infrastructure, as well as continue their work to plant 2000 mangroves per month and conduct various capacity-building exercises.
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France
Region
Ocean Literacy or Advocacy
Léa Godiveau
2023
Every year, there are thousands of boats sailing all over the ocean. And thousands of scientists, meteorologists, climatologists lacking in-situ data or means to deploy their equipment (buoys, floats). Oceanovox is bringing innovative citizen science to the sailing world to capitalize on this data-gathering opportunity. Using offshore racing such as IMOCA and Class 40 sailing races in 2023, they will engage sailors and the public in their effort to deploy sensors on sailboats to benefit French oceanographic and climatology organizations like Ifremer, CNRS, and Météo France, which will benefit from in-situ data on atmospheric pressure, temperature, and salinity as they work to understand and communicate around climate and climate change.
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Malaysia
Region
Ecosystems and Species: Preservation & Restoration
Melissa Beata MARTIN
2023
The University of Malaysia's South China Sea Repository and Reference Centre (RRC) has received two previous SOA grants to digitally archive over 1000 marine specimens from its database in Malaysia into national and international biodiversity inventory platforms (e.g. MyBIS and OBIS) and update their website as a public resource to incite interest in preserving the unique species of the South China Sea, publishing two articles in peer-reviewed journals along the way. As a final step, they’ll complete a final addition to their website: their enhanced digital repository interface “Malaysia Aqua Archive,” adding high resolution photos and enabling analysis of large datasets. The larger goal is to engage a broader range of stakeholders, support conservation efforts, and inform policy decisions for resource management.
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Japan
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Robin Takashi Lewis
2023
mymizu (“mizu” means water in Japanese) is a tech-driven free water refill platform that connects people to 11,500+ locations around Japan & 200,000+ globally where they can refill their water bottle, instead of buying bottled water. Last year, they partnered with a leading coding school, creative agency, and tech experts to build an open source web app version of mymizu via a tech hackathon. With this grant, they will further develop their open source platform and app to improve the quality and impact of the crowdsourced refill spot data they make available to hundreds of thousands of users for free. They will also develop “Action Packages” for city governments, nonprofits, schools, universities and companies to use as a guide to self-organize and grow the mymizu movement (eg. organizing local events). They aim to double the number of partner stores from 2,250 to 5,000 by 2024 and are currently exploring growing chapters in Vietnam, Kenya and Ethiopia.
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Spain
Region
Ecosystems and Species: Preservation & Restoration
Jorge Pablo Rodríguez García
2023
The AIAM project will introduce Artificial Intelligence (AI) in marine movement tracking ecology. Collecting marine animal movement is a laborious and expensive process, and AI tools can help optimize it, by, for example, suggesting optimal deployment locations. The AIAM project will first classify tracking data, inferring features of each individual (e.g., species, sex, age) from the spatiotemporal properties of its movement track record, and secondly forecast new locations given the segment of a trajectory. These tools will compose an open-source toolkit available for the marine ecology research community and can complete partial datasets and generate synthetic data.
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