Hi-tech Seaweed Farm

About this project

In the project “Takalar” SeatechEnergy (STE) is rolling out a large-scale seaweed farm for the cultivation of Gracilaria. STE’s farm consist of 600 floating platforms (“Pods”) which are anchored to the seabed. With STE (patented) technology STE can optimize the growing conditions for the seaweed and STE is not limited to the shallow waters. STE works in this project together with the local cooperative Kospermindo. The seaweed will be supplied to a reputable Indonesian agar producer under a 10 year off-take agreement. The volume of the off-take agreement is 10.000 ton dried seaweed per year with an estimated value of ca. US$ 69M. The capital expenditures required to set up the farm is US$ 5.2M with an estimated annual EBIT of US$ 3.1M. Seaweed is a fast-growing crop, with a seeding-harvesting cycle of ca. 45 days STE estimates to harvest. Together with partner Kospermindo STE is in the process of setting up process, procedures and systems required for the certification of seaweed securing traceability and sustainability. With this we differentiate from other farmers and we anticipate the future demands of the market is for high-quality certified products. Once fully operational the seaweed farm in Takalar will employ ca. 500 people.