The European Investment Bank (EIB) has awarded a EUR 35 million (USD 37.63 million) loan to Oceanloop, a German aquaculture technology startup, to drive its ambitious expansion. With plans to enhance its operations in Germany and establish a large-scale shrimp farming operation in Gran Canaria, Spain, Oceanloop’s sustainable aquaculture vision has received a strong endorsement. The Munich-based startup, founded in 2012, aims to accelerate the development of its proprietary recirculating aquaculture system (RAS) for indoor shrimp farming, creating an advanced, eco-friendly alternative to traditional seafood imports.

The EIB’s venture debt funding will support two major phases in Oceanloop’s growth. Firstly, the company will scale up its research, development, and innovation (RDI) facility in Kiel, Germany, expanding its annual shrimp production capacity from 5 tons to 60 tons. Secondly, Oceanloop will use the funding to construct Europe’s first large-scale land-based shrimp farm in Gran Canaria, designed to yield an impressive 2,000 tons per year of whiteleg shrimp.

Scaling Sustainable Shrimp Production

Oceanloop is one of Europe’s frontrunners in land-based aquaculture, pioneering an approach that promises transparency, traceability, and high-quality shrimp. The company’s innovative model aims to replace shrimp imports from non-EU countries with locally produced, environmentally sustainable options. Operating pilot farms in Kiel and Munich, Oceanloop provides shrimp through its sister company Honest Catch, catering directly to supermarkets, restaurants, and consumers with a focus on sustainability and animal welfare.

Oceanloop’s RAS technology gives farmers granular control over environmental factors, optimizing the use of natural resources while maintaining stringent animal welfare standards. Using digital tools such as computer vision and AI, Oceanloop has taken a forward-thinking approach, monitoring shrimp biomass and stress levels in real time to ensure an ethical and efficient production process.

Investing in a Future-Oriented Aquaculture

The EIB loan, backed by the InvestEU program, represents the EU’s commitment to supporting technological pioneers like Oceanloop. The InvestEU program, which aims to spur over EUR 372 billion (USD 400 billion) in new technologies by 2027, underlines the EU’s dedication to funding scalable, innovative projects that align with sustainable economic objectives. According to EIB Vice President Nicola Beer, Oceanloop exemplifies the type of high-potential startups the bank seeks to support: “The European Investment Bank supports European tech pioneers with European ambitions that push forward innovative solutions.”