Seaweed Energy Solutions, a Norwegian company focused on seaweed-to-fuel business, has reached an agreement to acquire 100 percent of Denmark’s Seaweed Seed Supply AS, a move that sharply reinforces SES’ position as Europe’s leading player in large-scale seaweed cultivation for renewable energy and other uses.
The acquisition of Seaweed Seed Supply marks a key step for SES in its strategy of pioneering large-scale seaweed farming due to Seaweed Seed Supply’s position as Denmark’s leading commercial producer of seaweed for fish and livestock feed on a sustainable basis. Financial terms of the agreement were not disclosed.
With the purchase, Seaweed Seed Supply’s goal of increasing production to 100,000 tons by 2017 from the current 5,000 tons capacity can become a reality. SES technology will be introduced in Denmark and the two companies will jointly improve and adapt the technology to the local environment.