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
Region
Ocean Data, Literacy & Research
Mikhael Tefa
2020
Divers Clean Action Network (DCA) created a learning platform for youth leaders by holding campaigns and webinars with the topic "Let's Talk About Deep Seabed Mining in Indonesia" (Bahasa Indonesia: Yuk, Ngobrolin Deep Seabed Mining di Indonesia) that will be incorporated into their monthly SOA Indonesia webinar. They invite academicians, experts, public figures, and activists to gain comprehensive knowledge about DSM. They first hosted a webinar with Indonesian panelists, and then one with international-level panelists , as well as a social media campaign that will be held along the way.
Learn MoreGrant
Philippines
Region
Ocean Data, Literacy & Research
Harold Banggay
2021
Kampo Mariknows will educate maritime students and professionals about marine conservation, maritime security, maritime law and encourage and guide them on the current and most pressing issues about environmental impacts of shipping, environmental impacts of ports, and marine pollution so that they will enrich their knowledge and skills through this camp to preserve and protect our ocean, maritime domain, the marine environment while onboard, in port and to ensure the sustainable development and future operation of our Ocean and the Maritime Industry.
Learn MoreGrant
Indonesia
Region
Ocean Data, Literacy & Research
Janis Argeswara
2020
This project collects data on Manta Rays in The Nusa Penida Marine Protected Area (MPA), and couples this information with individual sightings data to understand their population demographics and dynamics. The information garnered from this study will provide data on manta ray life-history parameters and lend insights into whether sites repeatedly used by smaller individuals can be considered nurseries for this species, which is an understudied aspect of manta ray ecology. The information from this study will be used to inform tourism management within the MPA.
Learn MoreGrant
United States of America
Region
Ecosystems and Species: Preservation & Restoration
Kristy Drutman
2022
Kristy Drutman (@browngirlgreen) will create podcasts, tik-toks and social media posts to humanize deep seabed mining while engaging and educating global youth on the issue.
Learn MoreGrant
Romania
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Marian Paiu
2020
This project stems from an initiative started by Mare Nostrum in 2014, wherein twice per year participants are recruited, trained, and integrated into the #plajecurate community (English: "clean beaches") as an example of citizen science and civil involvement. The report generated was forwarded to authorities and stakeholders with the goal of providing scientifically reliable information of marine litter and encouraging stakeholders to take action.
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Indonesia
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Dicky Dwi Alfandy
2020
Bandar Lampung has been ranked the 2nd dirtiest city in Indonesia, and is also home to the second longest coastline in Sumatra. There are no specific initiatives focused on recycling in Lampung, so last year, this group hosted an ocean and waste literacy Summit, the Lampung Youth Marine Debris Summit 2.0, with the theme “Youth and Debris, to Creative Eco-Economy”.
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Portugal
Region
Ocean Data, Literacy & Research
Eugénia Barroca
2020
Ocean Hub Portugal will organize and host a series of webinars and podcasts, talking to experts on different aspects of the Deep Seabed Mining conversation. This will raise awareness about the issue in Portugal and throughout Portuguese-Speaking countries. In addition, Ocean Hub Portugal will create a board game - both physical and virtual, that circles around the theme deep seabed mining to make learning about the policies and international processes surrounding deep seabed mining entertaining. The game will be launched and promoted during World Oceans Day, in June 2021.
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United States of America
Region
Blue Foods: Fisheries, Aquaculture, & Seafood Alternatives
Janelle Gaun
2021
This project seeks to understand the public's perception of offshore aquaculture in southern California (Santa Barbara and Venture Counties). Public perception has previously been an obstacle to implementation and the survey results informed communication and engagement strategies for Ocean Rainforest, a commercial kelp producer. Additionally, an executive summary was created and distributed to key stakeholders and interest groups.
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Germany
Region
Ocean Data, Literacy & Research
Leonie Meier
2020
This project seeks to engage wider audiences in the German-speaking world by making use of the social media graphics and material already developed by SOA, translating them into German, and engaging a social media expert to develop a sound communications strategy to engage specific target audiences.
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