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
Portugal
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Annalisa SAMBOLINO
2020
This project helps tackle the problem of disposable plastic by offering a solution. SOA Maderia noticed that almost no reusable cups are proposed and the main bars have a lot of customers with a tremendous amount of plastic cups distributed and then discarded, especially on the weekend. They are offering a solution with reusable cups that will be personalized with drawings of sea animals made by art students. The idea is that the public will feel more responsible for their reusable cup if they are personalized.
Learn MoreGrant
Indonesia
Region
Ecosystems and Species: Preservation & Restoration
Aditya Salim
2021
This project in collaboration with the YPAC Southeast Asia Deep-Sea Mining Coalition worked to raise awareness about Deep Sea Mining among high-level government officials in Indonesia. They developed a policy brief containing deep-sea mining key action plans and launched the brief through webinars and a campaign.
Learn MoreGrant
Norway
Region
Ecosystems and Species: Preservation & Restoration
Martin Skadal
2022
World Saving Hustle's (WSH) is engaging their 600 members to continue their important campaign for a moratorium on deep seabed mining in Norway. In collaboration with WWF Norway and Friends of the Earth Norway, WSH will produce talks and articles, circulate 11 petitions throughout Norway, and make connections with at least 5 political parties to inform them about the issue and its impacts.
Learn MoreGrant
Trinidad and Tobago
Region
Ocean Data, Literacy & Research
Khadija Stewart
2020
The Sea Our Seas Docuseries is a joint project between Ecovybz Environmental Creatives and 4 Change TT where six short documentaries will be created that highlight the oceans, marine resources, and problems and challenges facing effective ocean management in Trinidad and Tobago. The topics addressed include: fisheries, pollution, coral reefs, ghost gear, the Blue Economy, and climate change. This docuseries will educate on ocean resources and ocean problems, showcase solutions and mobilize actions, present stories from different stakeholders involved in ocean management, and aid in sharing information with schools and other interested bodies.
Learn MoreGrant
Trinidad and Tobago
Region
Ocean Data, Literacy & Research
Diva Amon
2021
SpeSeas raises awareness about key ocean issues in Trinidad and Tobago, led by a founding team of ocean science experts, including Diva Amon, who has worked in close partnership with SOA's Campaign Against Deep Sea Mining. With SOA support, they will amplify their social media presence, helping them to grow their network and make ocean literacy more accessible in the country.
Learn MoreGrant
Ghana
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Richmond Quarcoo
2021
Ghana is one of the top 10 most polluted countries in the world. This project addresses marine pollution by organizing two beach clean-ups on the turtle nesting areas of Nungua in collaboration with the NGO Plastic Punch. These two events will be edutainment and a citizen science approach for data.
Learn MoreGrant
Japan
Region
Ecosystems and Species: Preservation & Restoration
Mitani Yuiko
2020
Mobile Sea Otters work with local fishermen, volunteer divers, and dive shops to regenerate kelp forests by decreasing and ultimately eliminating the sea urchin population. Activities included monitoring of both kelp and sea urchin population growth, direct extermination of urchins, and estimation of CO2 absorption per unit area of kelp. Surveys and calculations were conducted by Teruhisa Komatsu (Technical Advisor of Japan Fisheries Resources Conservation Association).
Learn MoreGrant
Japan
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Ninomiya Ami
2020
Northern Okinawa's main island, generally called “Yanbaru”, is an area with many unique landscapes such as subtropical laurel forests, cloud forests, rivers, mangroves, and limestones. Yanbaru natives have lived in harmony with nature for hundreds of years, however, vast quantities of debris have begun to collect along the coastline of Yanbaru. For this project, the project leader will work with the local association of Yanbaru to create an exhibition by picking up and vacuum-sealing debris/making it into art work.
Learn MoreGrant
Portugal
Region
Ocean Data, Literacy & Research
Filipa Vieira
2021
M do Mar is an ocean literacy project that has 3 components involving over 26 activities over 6 months: 1. Menu do Mar: partnerships with coastal restaurants on the shoreline of Vila Nova de Gaia (North of Portugal) to develop ocean literacy activities for the children that go to the restaurant with their families; 2. Mães do Mar (mothers of the sea), is an educational and leisure project in the Algarve (Albufeira), south of Portugal that promotes ocean literacy through the Rock Pooling experience and it is articulated for family experiences on the beach, schools, kindergartens; 3. Mar Profundo (Deep Sea): a board game of strategic management of deep-sea ecosystems, to be used as an educational resource
Learn More