World Ocean Day 2023: Why do we need to invest in the Ocean?

Katapult Ocean Team KFF23

At the core of Katapult Ocean’s mission is a belief that a thriving ocean and sustainable economic development can exist in harmony. We implement this belief by investing in and accelerating the most impactful Ocean-tech startups. To mark World Ocean Day, we asked the Katapult Ocean Team ‘Why do we need to invest in the Ocean?’ Here’s what they had to say:

“Our oceans are not only a vital part of Earth’s ecosystem, but also a tremendous source of untapped potential for sustainable development. The health of our oceans directly impacts the well-being of our planet and every living being that calls it home. By investing in and accelerating the most impactful companies, we can address pressing global challenges such as climate change, food security, the transition to renewable energy, and biodiversity loss.

It is through positive Ocean Impact that we can unlock innovative solutions and technologies that will not only help us preserve and restore our oceans, but also drive economic growth and create new job opportunities. By investing in and accelerating Ocean-tech startups, we can catalyze positive change, foster sustainable growth, and pave the way for a future where the ocean thrives as a vital resource and a source of economic prosperity for generations to come.”

Jonas Skattum Svegaarden, CEO and General Partner Katapult Ocean

“The Ocean is the largest and most interconnected ecosystem on the planet, if our aim is a thriving (blue) planet, then the ocean impact investment opportunity becomes obvious. There is a double upside here: Firstly, it is necessary to reverse pre-existing damage. Secondly by responsibly working with the ocean, we can harness its resources as a powerful source of natural capital and blue growth engine. The ocean reaches its tentacles through our river systems far inland, and in the same way that a Salmon would deliver nutrients up river to support life, I believe that many solutions to land based problems can be found at sea.”

Ross Brooks, Investment Director and General Partner Katapult Ocean

“The ocean covers 72% of the planet and it is our greatest ally against climate change! The ocean generates 50% of the oxygen we need, absorbs 25% of all carbon dioxide emissions and captures 90% of the excess heat generated. There is so much that is yet to discover about the ocean, still we keep pushing the limits of what we think it can tolerate. In the world of Katapult Ocean we invest in and support ocean startups that have a positive impact on the ocean. We see great opportunities both when it comes to creating a positive impact, and to make good investments. The ocean can be a big part of the solutions to climate change and we see huge opportunities for Ocean energy, food, transportation, circular resources and clean water.

Personally, I couldn’t live without the ocean! During summer I love spending time in, on, and by the ocean, and I want to do my part so that my children and future grandchildren can experience the same.”

Ingrid Maurstad, Impact Director Katapult Ocean

“Considering the oceans absorbing 90+% of anthropogenic excess heat since the industrial revolution, the extent to which ocean impact investing lags broader climate investment is shocking. It is a no-brainer for me to commit my career to helping save the marine ecosystems and biodiversity underpinning the oceans that serve as the foundation for life on Earth. I am excited everyday to work at Katapult Ocean, where we are on the forefront of catalyzing capital for the advancement of ocean solutions across ocean organics, energy systems and circular resources. If we want to right the ship towards a sustainable future, we need all hands on deck!”

Sam Selig, Senior Investment Associate Katapult Ocean

“We’ve seen very concerning trends in our oceans over the past few decades, particularly in regard to marine biodiversity decline where we’ve seen an estimated drop of 20-50% variable across different species. Such losses are a result of larger, generally human-caused problems such as plastic pollution, agricultural runoff, rising water temperatures driven by increased GHG emissions, and overfishing to name a few. If allowed to proliferate, these problems will continue to degrade ocean life and the many resources it provides us such as oxygen, food, coastal protection, and novel compounds for medicine. Additionally, worsening weather conditions as a result of warmer water have the potential to cause significant supply chain disruptions, given over 90% of the world’s goods travel via sea. To help combat these problems directly and indirectly, it’s imperative we invest in technologies whose aim is to mediate the primary drivers of them, or whose goal is to rewrite the systems that are causing them altogether.”

Anthony Bellafiore, Investment Manager Katapult Ocean

“For me one of the biggest disruptions to the ecological balance of our Ocean is improper waste management. The thought of waste debris, microplastics and other non-recyclable objects floating in our oceans affecting marine life, affecting the quality of water, changing water currents and thereby contributing to more extreme weather events is concerning.

Knowing that there is not just one but five garbage patches or gyres in our biggest oceans is alarming. I’m proud to be a part of this team investing in solutions that are capturing ocean bound waste, investing in desalination of ocean water like Desolenator and are also simultaneously investing in alternate biodegradable products made from seaweed, algae, coconut waste etc. . Katapult gives me the opportunity to work with such organizations developing solutions for problems that we have collectively created. Solving these problems is not only enriching but also imperative to ensuring the well-being of our planet and leaving a better place for our future generations!”

Rutha Veena Shashank, Scout Katapult Ocean

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