SES snap up Danish seaweed cultivating business
Seaweed Energy Solutions (SES) has reached an agreement to acquire 100% of Danish company Seaweed Seed Supply (SSS) to reinforce its position in large-scale seaweed cultivation for renewable energy.
SSS´ goal of increasing production to 100,000 tons by 2017 from the current 5,000 tons capacity can now become a reality via this purchase.
SES technology will be introduced into Denmark and the two companies will jointly improve and adapt it to the local environment. Financial details of the deal have not been disclosed.
‘The deal in Denmark reinforces our ambition to develop seaweed as a sustainable source of biomass for fuel, feed and other products – and we will make the ocean cleaner at the same time,’ said SES CEO Paal Bakken.
SES is currently seeking investors for its technology development and its plans to increase production in Norway and Denmark.