Thriving in the Blue Economy | Sea to Sale

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Welcome, everyone.

 

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Happy Tuesday. Um, I’m so excited you’re joining us

 

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for our final session in our 2024 C to sale series.

 

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Today you’ll hear from folks leading the charge in the blue

 

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economy, um,

 

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and we’ll send you off with resources, opportunities,

 

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and information to help you scale

 

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your emerging seaweed business.

 

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Just in case you don’t already know me,

 

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my name’s Grace Collary

 

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and I’m the senior Market Development Program

 

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manager here at GreenWave.

 

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We’re kicking it off with some introductions in the chat,

 

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so if you haven’t had a chance to say hello, uh,

 

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please go ahead and post your name, your current

 

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or intended roles in the industry

 

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and where you’re joining us from.

 

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I’ll run through just a few logistics in the meantime.

 

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So once I hand it over to our speakers, um,

 

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we’ll be closing the chat

 

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and we encourage you to post all

 

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of your questions using the q and a function on Zoom.

 

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Um, you’re welcome to ask questions throughout

 

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what the webinar and we’ll be sure to save time at the end,

 

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um, to answer all of those with our speakers.

 

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And lastly, make sure you look out for our follow-up email

 

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where we’ll share the recording of the session

 

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and, um, other resources, uh,

 

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that were mentioned in the session.

 

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So today we’re just so incredibly lucky

 

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to have three outstanding speakers.

 

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Um, first Camila Vega from Sustainable Ocean Alliance

 

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will provide an overview of SOAs programs

 

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and opportunities, um,

 

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for ocean entrepreneurs and change makers.

 

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Then, um, Jason Engle

 

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of Third Nature Investments will walk us

 

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through his blue economy investment strategy.

 

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And finally, Alex Chesky will share KE Lab’s growth story

 

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and offer advice for fellow entrepreneurs.

 

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As I mentioned, we’ll have about 15 minutes at

 

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the end for q and a.

 

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Um, so please ask lots

 

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of questions today.

 

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Um, we’re focused not just on the new blue economy,

 

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but specifically organizations within the new blue economy

 

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who want to help you succeed.

 

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Um, although it’s sometimes eclipsed

 

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with a greater focus on the green economy,

 

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the new blue economy holds massive un untapped potential,

 

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um, and there’s really a renewed interest.

 

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Um, the OECD predicts

 

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that the ocean economy may double in size

 

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to 3 trillion by 2023.

 

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So as a company bringing regeneratively farmed kelp

 

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to market, you can really be on the forefront

 

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of this massive new movement.

 

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Um, here I’ve listed just a sample

 

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of Blue Economy accelerators, programs, fellowships,

 

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and financing opportunities.

 

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Um, as I said, this is just a sample

 

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and if I listed all of them,

 

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it would be much too long for a slide.

 

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Um, but if you’re on the Green Wave Hub community,

 

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you’ve probably seen posts about these opportunities

 

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as they arise today.

 

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I’ll mention just a few, um, beyond our incredible speakers.

 

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So our friends at the Gulf

 

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of Maine Research Institute have an open call

 

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for applications for their Blue Tech

 

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Boost Incubator program.

 

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Um, and I also really recommend checking out opportunities

 

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for government grants and funding.

 

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Um, currently the USDA is accepting applications

 

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for the small business innovation research

 

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and small business technology transfer programs.

 

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Um, and we’ll go ahead

 

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and share all those opportunities in the chat in case

 

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you want to learn more.

 

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And speaking of organizations

 

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who are invested in your success, um,

 

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GreenWave is definitely on that list.

 

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So beyond the series in our other freak programming,

 

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we offer extensive support

 

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to help companies in the seaweed value chain.

 

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If you’ve joined us for this entire series, um,

 

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you definitely have a solid understanding of what it takes

 

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to bring kelp to market,

 

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and you might even be ready

 

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to create your strategic sourcing strategy.

 

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If that’s you, we really encourage you to apply

 

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for Seaweed Source, which I know I’ve mentioned before, um,

 

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but I haven’t had the chance to take you

 

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all through it in detail.

 

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So Seaweed Source is a free app that streamlines connections

 

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between any business in the seaweed value chain, um,

 

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which means active hatcheries, farms, processors

 

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and buyers qualified companies can share their supply

 

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or purchasing needs, learn about the market ecosystem

 

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and tap into opportunities for growth

 

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and collaboration to ensure users on the app are, um,

 

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active businesses.

 

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Companies must apply and Greenway verified

 

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its Everly application.

 

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Um, so it’s a really powerful ecosystem

 

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and community to be a part of.

 

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Here’s just a quick preview of the Seaweed Source homepage,

 

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um, and you’ll notice that the app enables you

 

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to find key partners.

 

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You can search and filter by keyword,

 

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company name species and more.

 

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Um, and here’s just a look at the side-by-side view of map

 

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and the business card page.

 

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Um, and you’ll notice that companies are operating across

 

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the United States and Canada,

 

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which are current geographies of focus.

 

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And then lastly, here’s a profile, um,

 

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or a preview of what the company profiles look like.

 

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Um, you can see what companies source

 

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or supply their capacity, their species of focus,

 

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and you also have the option

 

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to directly message organizations one-on-one,

 

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or you can post a listing

 

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to notify all companies on the app about an opportunity if

 

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you have, um, some seaweed to sell

 

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or you wanna make a purchase.

 

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And beyond this, GreenWave also offers, um,

 

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free value chain coordination services to businesses looking

 

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to set up kelp supply chains.

 

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So, um, we can actually directly connect you with farmers

 

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and suppliers who meet your needs

 

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and support you in developing a long-term sustainable

 

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and scalable supply.

 

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Um, so with that, let’s go ahead

 

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and pass it off to some opportunities outside of GreenWave.

 

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Um, and our blue economy experts will share their advice for

 

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how to find, apply

 

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and leverage opportunities available to you.

 

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Um, so first I am so excited to welcome Camille Vega,

 

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who’s an entrepreneur with a background in social

 

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impact startups.

 

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She’s the solutions portfolio manager at Sustainable Ocean

 

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Alliance, where she empowers Ocean tech founders

 

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to help drive innovation in the sustainable blue economy.

 

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Over to you.

 

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Thank you so much, grace,

 

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and thank you everyone for being here today.

 

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It’s a pleasure to be connected

 

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and appreciate your time today.

 

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Um, as Grace mentioned, my name is Camina Vega.

 

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Um, here to share a little bit background about

 

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Sustainable Ocean Alliance.

 

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You can see here, um, the company was started back in 2014

 

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by our founder Daniella Fernandez,

 

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and with the onus to really pres work to preserve

 

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and protect the future of our ocean.

 

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So far since 2014, we’ve been able

 

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to support over 382 solutions

 

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across all different impact areas,

 

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which I’ll dive in a little bit more, uh, grace.

 

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Next slide please. So at Sustainable Ocean Alliance,

 

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we have two approaches.

 

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One is to support investing in people

 

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and as well as funding in solutions.

 

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So we’re working to not only amplify

 

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and support startups as well

 

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as community-led nonprofit projects all around the world.

 

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So the people side is more focused around

 

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bringing forward innovation

 

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and supporting our young ocean leaders across multiple hubs

 

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all around the world as they focus on key projects

 

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that are important to their local communities.

 

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And then we have the solution side, which is my role

 

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focusing on supporting for-profit ocean tech companies

 

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that are building the most innovative solutions

 

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to the threat spacing ocean.

 

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Today. These solutions are, uh, incredible companies,

 

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which I’ll give you a little bit

 

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of a preview on the next slide.

 

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So as you can see here, our impact to date, um, we offer

 

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funding to both, um,

 

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the for-profit startups through our Ecopreneur network

 

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and the Seabird Ventures.

 

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So anyone that has joined our, uh,

 

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sustainable Ocean Alliance ecopreneur network is able to,

 

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is eligible to receive funding of up

 

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to a hundred thousand dollars.

 

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Where, um, you can see

 

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so far we have 56 companies in our portfolio

 

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and over 30, 30 different countries.

 

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Um, and SOA has invested around $1.4 million.

 

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Um, all of these companies have gone on

 

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to raise over $250 million in the lifetime

 

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of their companies.

 

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And, um, as SOA, we also have a

 

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separate venture arm called Seabird Ventures,

 

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where we invest in our portfolio companies.

 

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Um, so far we’ve invested in, uh, 10 of our startups of up

 

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to $1.9 million.

 

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And then we have our grants program, which is more focused

 

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around our small, um,

 

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grassroots initiatives.

 

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Um, partnering with our solutions, uh, uh, I’m sorry,

 

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our regional representation across the world,

 

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across 83 different countries.

 

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Um, we’ve been able

 

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to distribute grants in 73 different countries, um,

 

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around $1.2 million so far.

 

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And all of these different grant projects are more

 

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grassroots or nonprofit initiatives, um, driven

 

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by our community of change makers.

 

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Next slide, please. Um, so

 

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our organization, um, initially started out

 

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as an accelerator program.

 

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We’ve since then transitioned to an ecopreneur network

 

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where we accept applications from for-profit,

 

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ocean tech companies from all around the world

 

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that are focused on our key impact areas.

 

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This ecopreneur network offers a lifetime of support to the,

 

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the startups that are, uh, accepted into our program

 

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where we support them across, um, fundraising support,

 

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so connecting them to our global network of investors, um,

 

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as well as, um, mentorship.

 

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Um, we have incredible volunteer network of mentors

 

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that support our companies across their,

 

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the lifecycle of their startup.

 

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Um, we also connect them to our global network of partners.

 

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Um, we’re so happy to have GreenWave as one

 

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of our incredible partners.

 

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Um, and then lastly, we also support our startups through,

 

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um, marketing and thought leadership.

 

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So helping to amplify their voice

 

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and showcase the incredible solutions that they’ve created.

 

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Um, we currently have an open call for applications

 

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for our 20 class of 2024 for the Ecopreneur Network.

 

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Um, the deadline to apply is in October.

 

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So highly recommend, um, you check it out if you have any

 

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companies that you know of or if you’re a founder yourself

 

239

00:11:30.455 –> 00:11:33.265

that are looking for connecting in the sustainable blue

 

240

00:11:33.265 –> 00:11:36.265

economy sector, especially in the ocean tech space.

 

241

00:11:36.885 –> 00:11:39.965

Um, come and join us. Next slide please.

 

242

00:11:42.015 –> 00:11:46.195

So at SOA we focus on five key impact areas.

 

243

00:11:46.945 –> 00:11:49.715

I’ll dive in with you about our pollution reduction

 

244

00:11:50.415 –> 00:11:53.195

and circular economy sector.

 

245

00:11:53.505 –> 00:11:56.925

But, um, so you’re aware we have the other impact areas

 

246

00:11:56.925 –> 00:12:00.805

that we focus on are greenhouse gas reduction, ecosystem

 

247

00:12:00.905 –> 00:12:02.285

and species preservation

 

248

00:12:02.285 –> 00:12:05.225

and restoration, sustainable blue seafood,

 

249

00:12:05.415 –> 00:12:08.785

including victories, aquaculture and seafood alternatives.

 

250

00:12:09.205 –> 00:12:12.305

And then lastly, ocean data literacy and research.

 

251

00:12:12.685 –> 00:12:15.905

You can actually take a look at our for full portfolio, um,

 

252

00:12:15.905 –> 00:12:18.385

here at the Bitly link provided in this slide.

 

253

00:12:18.805 –> 00:12:21.625

So it’s the bitly slash SOA startup.

 

254

00:12:23.065 –> 00:12:27.655

Next slide, please. So, as I mentioned, um,

 

255

00:12:28.545 –> 00:12:29.855

we’ll dive in a little bit more

 

256

00:12:30.045 –> 00:12:33.655

with you all about our pollution reduction in circular

 

257

00:12:33.685 –> 00:12:36.895

economy startups, um, as we would like to see

 

258

00:12:38.405 –> 00:12:43.225

the industry drive forward the huge amount of waste

 

259

00:12:43.255 –> 00:12:45.625

that is being produced, um,

 

260

00:12:45.685 –> 00:12:47.785

and helping to find different solutions

 

261

00:12:47.805 –> 00:12:50.545

to address the plastic issues.

 

262

00:12:51.365 –> 00:12:52.625

Um, next slide please.

 

263

00:12:54.505 –> 00:12:58.805

So, as you can see here, um, our circular economy

 

264

00:12:59.675 –> 00:13:03.985

solutions that we focus on, um, you know, are working

 

265

00:13:04.085 –> 00:13:06.625

to tackle this issue including, um,

 

266

00:13:07.365 –> 00:13:10.705

highly efficient recycling systems such as Nova Loop

 

267

00:13:10.925 –> 00:13:14.945

or re reusable container systems for takeout food such as

 

268

00:13:15.625 –> 00:13:17.025

dispatch goods and Muse.

 

269

00:13:17.475 –> 00:13:20.785

These are just a, a sampling of our portfolio of companies

 

270

00:13:20.785 –> 00:13:24.345

that have been able to achieve over, um,

 

271

00:13:24.485 –> 00:13:29.065

1,755 metrics, tons of solid waste removed, cycled

 

272

00:13:29.065 –> 00:13:31.065

or avoided through their solution.

 

273

00:13:31.925 –> 00:13:35.545

And we are at SOA, our strategy

 

274

00:13:35.805 –> 00:13:39.605

to combat these, um, systemic issues

 

275

00:13:39.625 –> 00:13:42.525

of plastic pollution are really helping

 

276

00:13:42.625 –> 00:13:44.485

to support these diverse

 

277

00:13:44.745 –> 00:13:48.605

and, um, incredible startups that are startup,

 

278

00:13:48.605 –> 00:13:52.085

both driving technological innovation shifts in consumer

 

279

00:13:52.485 –> 00:13:54.245

behavior, um, as well as helping

 

280

00:13:54.265 –> 00:13:55.685

to drive some policy changes.

 

281

00:13:56.355 –> 00:14:00.495

Next slide, please. Um, so yeah,

 

282

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these are the more of our companies.

 

283

00:14:02.595 –> 00:14:06.575

As we understand no single solution can address all

 

284

00:14:06.575 –> 00:14:08.215

plastic waste issues.

 

285

00:14:08.675 –> 00:14:11.775

Um, we were working on supporting a multi-pronged approach

 

286

00:14:12.285 –> 00:14:15.695

involving, um, al alternative

 

287

00:14:16.495 –> 00:14:17.935

materials such as cruise foam.

 

288

00:14:18.085 –> 00:14:21.575

This is a incredible company that has, um,

 

289

00:14:21.605 –> 00:14:26.055

created a solution to reduce the waste that’s coming from,

 

290

00:14:26.555 –> 00:14:28.815

um, styrofoam by creating their own product

 

291

00:14:28.885 –> 00:14:32.255

that is fully biodegradable, made out of shrimp byproducts.

 

292

00:14:32.835 –> 00:14:37.255

Um, we also have ocean work, um, working with brands

 

293

00:14:37.515 –> 00:14:40.535

to take action against plastic pollution, um,

 

294

00:14:40.675 –> 00:14:42.575

and then pollution reduction as well.

 

295

00:14:42.955 –> 00:14:47.015

So Ecospheres, um, they’re a company working to

 

296

00:14:47.605 –> 00:14:51.490

that net zero future environmental cleanup environ using

 

297

00:14:51.490 –> 00:14:53.445

environmental technology from nasa.

 

298

00:14:54.545 –> 00:14:56.565

Um, if you go to the next slide, please,

 

299

00:14:57.345 –> 00:14:59.445

you can see a little bit more of our startups here

 

300

00:14:59.715 –> 00:15:01.685

that are focused on seaweed.

 

301

00:15:02.305 –> 00:15:05.965

Um, so we would love to see the seaweed industry advance

 

302

00:15:06.105 –> 00:15:07.805

for all of the societal

 

303

00:15:07.825 –> 00:15:10.805

and climate climate benefits that seaweed farming

 

304

00:15:11.385 –> 00:15:14.645

can provide, but we won’t be able to realize these benefits

 

305

00:15:14.705 –> 00:15:16.245

unless there’s a market for it.

 

306

00:15:16.585 –> 00:15:19.285

That’s what the yeas startups do here at SOA

 

307

00:15:19.285 –> 00:15:21.005

through their ecopreneur network.

 

308

00:15:21.095 –> 00:15:23.885

We’re supporting this incredible group of seaweed startups

 

309

00:15:23.885 –> 00:15:25.405

that are helping to shape the industry.

 

310

00:15:25.985 –> 00:15:28.885

And I’m excited to share with you all here this group

 

311

00:15:28.945 –> 00:15:30.365

of startups in our portfolio

 

312

00:15:30.365 –> 00:15:32.325

that are creating a market for seaweed.

 

313

00:15:32.785 –> 00:15:35.565

Um, these are companies that you may have seen already

 

314

00:15:35.835 –> 00:15:38.605

that are part of the GreenWave community as well,

 

315

00:15:38.825 –> 00:15:41.635

but, um, I’ll share them here as also.

 

316

00:15:41.735 –> 00:15:45.195

Um, so we, havewe, physios

 

317

00:15:45.195 –> 00:15:49.715

and lolly wear, they’re all working to, um, you know, scale

 

318

00:15:50.305 –> 00:15:53.715

seaweed based, rapidly compostable replacements for plastic.

 

319

00:15:54.375 –> 00:15:58.675

Um, sway is beginning with flexible packaging, um, theos,

 

320

00:15:59.055 –> 00:16:03.555

um, these really offering, um, some packaging solutions

 

321

00:16:03.705 –> 00:16:06.675

that are able to combat the issues of plastic.

 

322

00:16:06.895 –> 00:16:10.715

And then, um, lolly wear, I think you all know, is working

 

323

00:16:10.855 –> 00:16:15.435

to design the decarbonized future, um, with products

 

324

00:16:15.435 –> 00:16:16.835

that are designed to disappear.

 

325

00:16:17.255 –> 00:16:22.145

Uh, next slide please. Um, these are some of our other,

 

326

00:16:22.365 –> 00:16:25.025

um, seaweed startups that we have here today.

 

327

00:16:25.245 –> 00:16:27.505

Um, Flexe is one of our newer companies.

 

328

00:16:27.965 –> 00:16:29.225

Um, they’re based outta Europe.

 

329

00:16:29.255 –> 00:16:30.425

They’re both innovative

 

330

00:16:30.525 –> 00:16:33.025

and have created a truly home compostable

 

331

00:16:33.595 –> 00:16:36.385

biopolymer material de derived from seaweed

 

332

00:16:36.385 –> 00:16:38.545

and other sustainably sourced materials.

 

333

00:16:39.905 –> 00:16:42.125

Um, Oceania, oh, apologies, there’s a,

 

334

00:16:43.255 –> 00:16:45.795

um, typo in the slide here.

 

335

00:16:45.795 –> 00:16:49.915

But Oceania, um, is working across, um,

 

336

00:16:50.225 –> 00:16:54.995

many different, uh, seaweed implementations to use the full,

 

337

00:16:55.375 –> 00:16:57.195

um, product of seaweed.

 

338

00:16:57.215 –> 00:16:59.235

So not just bioplastics,

 

339

00:16:59.235 –> 00:17:03.315

but also thinking about how you can utilize seaweed for, um,

 

340

00:17:03.675 –> 00:17:07.355

biomaterials, um, such as pharmaceuticals, um,

 

341

00:17:07.935 –> 00:17:09.315

and, and other products.

 

342

00:17:09.575 –> 00:17:11.475

And then Sea Forestation, um,

 

343

00:17:11.605 –> 00:17:14.515

isn’t directly creating products out of seaweed,

 

344

00:17:14.535 –> 00:17:18.835

but they’re working to, um, help seaweed a forestation

 

345

00:17:19.175 –> 00:17:23.975

and to help reverse the climate change to improve the,

 

346

00:17:24.115 –> 00:17:25.255

our healthier oceans.

 

347

00:17:25.835 –> 00:17:29.815

Um, and with that, um, I’d love to invite you all

 

348

00:17:29.835 –> 00:17:33.135

to check out our incredible startups and follow us along.

 

349

00:17:33.195 –> 00:17:34.895

We have a LinkedIn newsletter

 

350

00:17:34.895 –> 00:17:36.775

where we share all of their latest updates.

 

351

00:17:37.475 –> 00:17:39.355

So thank you so much for your time.

 

352

00:17:39.585 –> 00:17:41.475

Feel free to reach out to me anytime.

 

353

00:17:42.545 –> 00:17:43.855

Thank you so much, Camila.

 

354

00:17:43.955 –> 00:17:45.655

Um, if you could share that call

 

355

00:17:45.715 –> 00:17:48.295

for Oakland applications in the chat, that would be awesome.

 

356

00:17:48.555 –> 00:17:53.395

I’m sure folks would love to learn more. Um, awesome.

 

357

00:17:53.705 –> 00:17:57.835

Well, next up I’m really excited to bring on Jason Engle.

 

358

00:17:58.375 –> 00:17:59.955

Um, Jason is the founder

 

359

00:18:00.015 –> 00:18:02.395

and managing partner of Third Nature Investments,

 

360

00:18:02.455 –> 00:18:04.555

an integrated impact capital platform,

 

361

00:18:04.825 –> 00:18:07.195

investing in the most promising innovations

 

362

00:18:07.295 –> 00:18:10.075

and technologies seeking to address urgent

 

363

00:18:10.255 –> 00:18:12.395

and massive challenges we face within our

 

364

00:18:12.395 –> 00:18:13.755

most critical earth systems.

 

365

00:18:15.035 –> 00:18:18.595

Previously, Jason Co-founded Closed Loop Capital in 2010

 

366

00:18:19.015 –> 00:18:22.115

as one of the first early stage venture funds investing in

 

367

00:18:22.115 –> 00:18:25.435

exceptional entrepreneurs leading ventures in agriculture,

 

368

00:18:25.435 –> 00:18:28.355

technology, um, and food system innovation.

 

369

00:18:28.865 –> 00:18:29.865

Over to you, Jason.

 

370

00:18:31.575 –> 00:18:34.285

Great. Uh, thanks Grace, and thanks Camilla.

 

371

00:18:34.285 –> 00:18:36.285

It’s always great to hear all the great work

 

372

00:18:36.285 –> 00:18:37.285

that SOA is doing.

 

373

00:18:38.185 –> 00:18:41.285

Uh, as Grace just mentioned, um, you know, I’ll,

 

374

00:18:41.355 –> 00:18:45.405

I’ll talk a little bit about our, our role within, uh,

 

375

00:18:45.405 –> 00:18:46.605

the seaweed economy,

 

376

00:18:46.825 –> 00:18:48.885

but first we’ll give a little bit of context.

 

377

00:18:49.665 –> 00:18:52.805

So as, as was referenced, you know, we’re coming, uh, from,

 

378

00:18:53.265 –> 00:18:56.725

um, more of a food, uh, and ag investor

 

379

00:18:56.725 –> 00:18:59.085

and food systems investor experience

 

380

00:18:59.085 –> 00:19:00.165

over the last dozen years.

 

381

00:19:00.945 –> 00:19:05.485

And, uh, 2021, as we all were reflecting during covid,

 

382

00:19:05.625 –> 00:19:09.645

we reflected, um, as a group on our first, uh, on our decade

 

383

00:19:09.745 –> 00:19:11.285

of investing in Food and Ag.

 

384

00:19:11.345 –> 00:19:14.965

And, and what we found was that all systems interact

 

385

00:19:14.965 –> 00:19:18.365

and overlap and to just focus on one vertical

 

386

00:19:19.105 –> 00:19:22.045

was ultimately creating, uh, blind spots and biases.

 

387

00:19:22.265 –> 00:19:26.245

And so for us, you know, we, we started to look at, hey,

 

388

00:19:26.315 –> 00:19:29.445

it’s a great thing that we have, uh, more and more awareness

 

389

00:19:29.545 –> 00:19:31.685

and engagement on climate tech

 

390

00:19:31.945 –> 00:19:34.165

and the need for decarbonization.

 

391

00:19:34.265 –> 00:19:36.085

But at the end of the day, uh,

 

392

00:19:36.105 –> 00:19:38.245

if we decarbonize our atmosphere, uh,

 

393

00:19:38.245 –> 00:19:40.925

that doesn’t necessarily get us to where we need to get

 

394

00:19:41.265 –> 00:19:44.685

as far as rejuvenating all of our natural systems.

 

395

00:19:44.945 –> 00:19:48.445

And so, ultimately, uh, we set out to,

 

396

00:19:48.625 –> 00:19:51.925

to form a new entity that allows us, uh,

 

397

00:19:52.215 –> 00:19:55.045

wider aperture across these systems and to,

 

398

00:19:55.065 –> 00:19:58.805

and to find some of the more innovative, um, technologies

 

399

00:19:59.065 –> 00:20:02.765

and talented entrepreneurs across a number of these, uh,

 

400

00:20:02.975 –> 00:20:04.725

earth systems as we’re calling it.

 

401

00:20:04.905 –> 00:20:09.835

Uh, next slide. So of course, within that, uh,

 

402

00:20:09.935 –> 00:20:13.835

as we set out, uh, to create third nature investments, uh,

 

403

00:20:14.055 –> 00:20:18.555

we were looking at, um, you know, across all these spaces

 

404

00:20:18.805 –> 00:20:21.355

where, where were we seeing patterns that were similar

 

405

00:20:21.455 –> 00:20:23.435

to a decade earlier in food and Ag?

 

406

00:20:23.535 –> 00:20:26.715

So kind of in, in, uh, the early, you know,

 

407

00:20:27.405 –> 00:20:31.715

let’s call it 2012, 1314, there was starting to be more

 

408

00:20:31.715 –> 00:20:34.475

and more interest and awareness in the,

 

409

00:20:34.655 –> 00:20:36.755

in the food systems investment space,

 

410

00:20:37.455 –> 00:20:41.355

but still very underappreciated, undercapitalized, um,

 

411

00:20:42.375 –> 00:20:44.755

and ultimately a fragmented investor base.

 

412

00:20:44.855 –> 00:20:48.765

And, and honestly, that was something we were seeing, uh,

 

413

00:20:48.955 –> 00:20:53.405

kind of going into kind of 20 20, 20 21 on the,

 

414

00:20:53.505 –> 00:20:54.645

uh, ocean based side.

 

415

00:20:54.745 –> 00:20:56.805

And so, as referenced,

 

416

00:20:56.805 –> 00:21:00.565

and I’m sure not, um, surprising to anybody on,

 

417

00:21:00.665 –> 00:21:04.965

on this call, we, we see ocean based investing, seaweed,

 

418

00:21:05.315 –> 00:21:07.805

economy, blue tech, whatever you wanna call it,

 

419

00:21:07.835 –> 00:21:11.085

blue economy, um, as a tremendous opportunity

 

420

00:21:11.145 –> 00:21:14.405

and having many of the same, uh, characteristics

 

421

00:21:14.465 –> 00:21:17.525

and, uh, you know, current landscape as, uh,

 

422

00:21:17.725 –> 00:21:20.245

terrestrial based food and ag had about a decade ago.

 

423

00:21:20.425 –> 00:21:23.285

And so with that, um, we set out and,

 

424

00:21:23.285 –> 00:21:26.645

and certainly have seen seaweed become a big part of

 

425

00:21:26.645 –> 00:21:28.285

that, uh, next slide.

 

426

00:21:31.085 –> 00:21:34.505

So I’m not gonna bore anybody with all of the, uh,

 

427

00:21:35.045 –> 00:21:37.905

all the attributes, but, um, you know, in our minds,

 

428

00:21:37.925 –> 00:21:39.945

you know, looking at, um, seaweed,

 

429

00:21:40.215 –> 00:21:43.585

certainly it is a transformative opportunity.

 

430

00:21:43.645 –> 00:21:46.785

The way that we look at it is, you know, if we were

 

431

00:21:46.785 –> 00:21:50.225

to look at the 20th century economy versus 21st century

 

432

00:21:50.295 –> 00:21:54.625

economy, we know much more now based on science, uh,

 

433

00:21:54.625 –> 00:21:58.345

based on research and ultimately have the opportunity both

 

434

00:21:58.345 –> 00:22:03.305

with innovation and entrepreneurship to really harness,

 

435

00:22:03.765 –> 00:22:07.185

uh, some of these more regenerative base building block

 

436

00:22:07.465 –> 00:22:10.505

materials, of which in our mind, seaweed is at,

 

437

00:22:10.605 –> 00:22:13.225

at the center of that, along with a number of others

 

438

00:22:13.335 –> 00:22:16.785

that ultimately can be, uh, a source of

 

439

00:22:17.415 –> 00:22:19.425

this new economy and, uh,

 

440

00:22:19.425 –> 00:22:22.985

and look to displace some of the more damaging, uh,

 

441

00:22:23.375 –> 00:22:27.105

impactful, um, base materials across a number

 

442

00:22:27.105 –> 00:22:30.665

of different sectors, industries, um, and systems.

 

443

00:22:31.705 –> 00:22:36.195

Next slide. So, uh, we’re fortunate enough to have,

 

444

00:22:36.295 –> 00:22:37.435

uh, Alex going next.

 

445

00:22:37.435 –> 00:22:40.155

So I’ll let her do the honors with Key Labs.

 

446

00:22:40.415 –> 00:22:43.355

But within our journey, um, you know,

 

447

00:22:43.705 –> 00:22:47.475

obviously we have had the privilege of being, uh, able

 

448

00:22:47.495 –> 00:22:51.395

to invest in, into, uh, this space in, uh,

 

449

00:22:51.755 –> 00:22:52.915

starting in 2021.

 

450

00:22:52.975 –> 00:22:54.795

We invested in Atlantic Sea Farms

 

451

00:22:54.795 –> 00:22:58.635

as our first seaweed based, uh, company into the Series A

 

452

00:22:58.735 –> 00:23:03.155

and ultimately, um, you know, saw Atlantic Sea Farms

 

453

00:23:03.155 –> 00:23:04.955

as just an amazing business model.

 

454

00:23:06.115 –> 00:23:08.535

You know, obviously based on leveraging

 

455

00:23:08.535 –> 00:23:11.935

and harnessing the lobster fleet in the Gulf of Maine,

 

456

00:23:11.995 –> 00:23:13.935

and the knowhow and the knowledge

 

457

00:23:14.195 –> 00:23:18.335

and the infrastructure that’s there to, to scale up, uh,

 

458

00:23:18.635 –> 00:23:22.695

you know, their kelp production, um, first for food service

 

459

00:23:22.875 –> 00:23:26.815

and then, uh, as a CPG company, uh, with their own products

 

460

00:23:26.875 –> 00:23:30.775

and have seen, um, you know, a lot of development there.

 

461

00:23:30.875 –> 00:23:34.135

But just the, the design of the business model is,

 

462

00:23:34.195 –> 00:23:35.735

is an interesting one with more

 

463

00:23:35.935 –> 00:23:38.735

of a cooperative model across, you know,

 

464

00:23:38.765 –> 00:23:41.215

from all the way from, you know, kind of the breeding

 

465

00:23:41.435 –> 00:23:44.735

to obviously the grow partner farmer model

 

466

00:23:44.835 –> 00:23:46.565

to the processing,

 

467

00:23:46.665 –> 00:23:49.045

and then ultimately coming, you know, having, uh,

 

468

00:23:49.045 –> 00:23:51.765

their own product and also selling into different channels

 

469

00:23:51.765 –> 00:23:55.285

from ingredients to food service, et cetera, um,

 

470

00:23:56.425 –> 00:23:59.365

has been, um, an amazing, uh, journey and,

 

471

00:23:59.425 –> 00:24:00.765

and certainly is growing.

 

472

00:24:00.865 –> 00:24:04.125

And just like terrestrial based farming every

 

473

00:24:04.125 –> 00:24:05.285

year is a different challenge.

 

474

00:24:05.585 –> 00:24:08.805

Uh, last year they came in light on the harvest.

 

475

00:24:08.955 –> 00:24:10.845

This year was dramatically, um,

 

476

00:24:11.265 –> 00:24:13.125

higher than, uh, was targeted.

 

477

00:24:13.345 –> 00:24:17.125

So that presents, uh, just like any farm, uh, you know,

 

478

00:24:17.125 –> 00:24:19.565

season, different challenges, different opportunities.

 

479

00:24:19.745 –> 00:24:23.405

So, um, keeps, keeps things pretty interesting.

 

480

00:24:23.625 –> 00:24:24.885

Um, from there

 

481

00:24:25.065 –> 00:24:28.725

and from that experience, uh, we were introduced to, uh,

 

482

00:24:29.165 –> 00:24:30.685

algin Knit, which is now KE Labs.

 

483

00:24:31.345 –> 00:24:34.805

Um, and you know, I think, again, one of the, one

 

484

00:24:34.805 –> 00:24:37.605

of the most amazing things about a seaweed based economy is

 

485

00:24:37.605 –> 00:24:39.245

all the, uh, as Camilla was talking about

 

486

00:24:39.825 –> 00:24:42.645

all the different end use applications that are possible.

 

487

00:24:42.745 –> 00:24:46.525

So just like, you know, kind of, uh, on the food side,

 

488

00:24:46.625 –> 00:24:48.445

you also have obviously the fashion

 

489

00:24:48.545 –> 00:24:52.365

and apparel industry as a massive industry that has many

 

490

00:24:52.885 –> 00:24:54.525

negative, uh, impacts, um,

 

491

00:24:54.985 –> 00:24:56.685

on the environment and on human health.

 

492

00:24:56.785 –> 00:25:00.405

And presents, uh, a very unique opportunity as well,

 

493

00:25:00.415 –> 00:25:02.525

which Alex will discuss and,

 

494

00:25:02.525 –> 00:25:04.525

and talk to as far as kind

 

495

00:25:04.525 –> 00:25:06.525

of their model more on a B2B side.

 

496

00:25:07.145 –> 00:25:10.605

And then, um, you know, sway has been our more recent,

 

497

00:25:10.745 –> 00:25:14.085

we led, uh, their recent round that closed in December

 

498

00:25:14.155 –> 00:25:15.325

with a group of investors

 

499

00:25:16.145 –> 00:25:19.645

and, um, very powerful company as well, and,

 

500

00:25:19.665 –> 00:25:22.925

and opportunity, as Camilla said, on finding, uh,

 

501

00:25:23.075 –> 00:25:27.925

some real seaweed based alternative, um, solutions

 

502

00:25:28.065 –> 00:25:30.605

to a petro based plastics industry.

 

503

00:25:30.745 –> 00:25:34.125

But I, I, I talk to people a lot around just the fact

 

504

00:25:34.125 –> 00:25:37.525

that the petroleum companies are not just gonna close up

 

505

00:25:37.525 –> 00:25:40.885

shop someday and say, well, I guess the, uh, you know,

 

506

00:25:40.885 –> 00:25:42.325

the transportation industry

 

507

00:25:42.425 –> 00:25:45.165

and the global energy industry doesn’t need us anymore.

 

508

00:25:45.695 –> 00:25:47.365

We’re just gonna go out of business.

 

509

00:25:47.505 –> 00:25:49.765

No, they’re, they’re absolutely gonna be pivoting

 

510

00:25:49.765 –> 00:25:52.565

and plastics, uh, is gonna be one of the areas.

 

511

00:25:52.825 –> 00:25:56.085

And so it’s an area that we see real importance around

 

512

00:25:56.685 –> 00:26:01.365

capitalizing, uh, a new, um, a new set of entrepreneurs

 

513

00:26:01.465 –> 00:26:02.645

who can, can lead that

 

514

00:26:02.665 –> 00:26:06.445

and have drop-in solutions, very much B2B model as well.

 

515

00:26:06.745 –> 00:26:09.525

Um, so, uh, next slide.

 

516

00:26:12.135 –> 00:26:13.595

So on this one, I think, you know,

 

517

00:26:13.595 –> 00:26:16.955

obviously everybody who’s here is intrigued

 

518

00:26:17.095 –> 00:26:20.515

or is even a converted, uh, believer in the power

 

519

00:26:20.535 –> 00:26:21.915

of a seaweed based economy

 

520

00:26:22.095 –> 00:26:25.315

and building businesses for the 21st century around that.

 

521

00:26:25.415 –> 00:26:27.715

So I’m not gonna bore anyone too much with it,

 

522

00:26:27.715 –> 00:26:29.515

but I think, you know, some of the things that we’ve seen,

 

523

00:26:29.975 –> 00:26:34.115

um, are, which again, Alex can talk, talk

 

524

00:26:34.115 –> 00:26:35.435

to her, uh, journey.

 

525

00:26:35.575 –> 00:26:39.395

But I think, you know, one is certainly the challenge

 

526

00:26:39.615 –> 00:26:44.405

of compelling even impact, uh, investors, uh,

 

527

00:26:44.585 –> 00:26:47.765

to see the benefit and the opportunity in Ocean-based

 

528

00:26:47.905 –> 00:26:50.845

and seaweed based companies that, again, as mentioned,

 

529

00:26:50.875 –> 00:26:52.925

it’s an opportunity that we see

 

530

00:26:52.925 –> 00:26:54.245

and that we’re trying to catalyze

 

531

00:26:54.245 –> 00:26:55.445

other investors in the space.

 

532

00:26:55.505 –> 00:26:57.605

But candidly, it’s slow going.

 

533

00:26:57.945 –> 00:27:01.485

Um, there are plenty who are, I would call Ocean curious,

 

534

00:27:01.905 –> 00:27:04.125

um, but not necessarily courageous enough

 

535

00:27:04.145 –> 00:27:06.485

to be writing checks and really truly investing.

 

536

00:27:07.025 –> 00:27:09.125

Um, and, and even those that are, they,

 

537

00:27:09.155 –> 00:27:13.245

they typically are wanting to, to see other lead investors

 

538

00:27:13.435 –> 00:27:16.685

that they know and trust, uh, coming to the table first.

 

539

00:27:16.745 –> 00:27:19.725

So there’s certainly some more work to do on that front.

 

540

00:27:20.005 –> 00:27:22.245

I think also on the business development side, particularly

 

541

00:27:23.165 –> 00:27:25.045

companies that have more B2B model, it’s,

 

542

00:27:25.045 –> 00:27:27.645

it’s slow sales cycles just generally right now,

 

543

00:27:28.305 –> 00:27:30.965

but even more so, you know, in spaces like this

 

544

00:27:30.965 –> 00:27:33.845

that are emerging, that are still somewhat nascent.

 

545

00:27:33.985 –> 00:27:37.245

Um, and so while there is progress, while there is

 

546

00:27:37.995 –> 00:27:42.085

opportunity, um, it’s typically under, um,

 

547

00:27:43.305 –> 00:27:47.125

you know, uh, you know, underappreciated kind of the,

 

548

00:27:47.225 –> 00:27:50.925

the timeframe that is going to need to be required to kind

 

549

00:27:50.925 –> 00:27:52.405

of have those con converts and,

 

550

00:27:52.405 –> 00:27:54.685

and really getting some of the business development across

 

551

00:27:54.825 –> 00:27:56.965

the line with some of these corporates that

 

552

00:27:57.625 –> 00:27:59.885

in some ways are already risk off with their,

 

553

00:28:00.315 –> 00:28:01.885

with their own, uh, businesses.

 

554

00:28:01.985 –> 00:28:05.365

But also in just, uh, trying new innovations, so to speak,

 

555

00:28:05.365 –> 00:28:06.885

which this certainly falls into.

 

556

00:28:07.375 –> 00:28:10.645

There certainly continues to be more interest in some

 

557

00:28:10.645 –> 00:28:14.165

of these sectors like Biostimulants Animal Feed, you know,

 

558

00:28:14.165 –> 00:28:17.845

in our view and our, our lens as Earth systems investor,

 

559

00:28:18.345 –> 00:28:21.445

we believe, um, that the ocean be, should be seen

 

560

00:28:21.505 –> 00:28:24.805

as more than just a victim to our pollution

 

561

00:28:24.985 –> 00:28:26.605

and our exploitation.

 

562

00:28:26.665 –> 00:28:29.165

And that the ocean should be a true partner

 

563

00:28:29.265 –> 00:28:31.925

of creating vibrant, uh, business

 

564

00:28:31.985 –> 00:28:35.045

and economy in partnership with, uh,

 

565

00:28:35.505 –> 00:28:37.765

and in respect to the ocean.

 

566

00:28:37.905 –> 00:28:41.565

And so that for us, is one of our goals is to, to move

 

567

00:28:41.665 –> 00:28:44.805

beyond just looking at speculative uses for the ocean

 

568

00:28:45.105 –> 00:28:46.765

or exploitive uses and,

 

569

00:28:47.105 –> 00:28:50.365

and to really look for building companies and capitalizing

 

570

00:28:50.425 –> 00:28:53.845

and investing in companies that are creating real products

 

571

00:28:53.845 –> 00:28:56.125

with real revenue and real business models

 

572

00:28:56.635 –> 00:28:59.685

that can really become durable leaders in a future

 

573

00:28:59.685 –> 00:29:01.125

21st century economy.

 

574

00:29:01.385 –> 00:29:04.765

So, um, you know, I think an area which, uh,

 

575

00:29:04.765 –> 00:29:07.445

Camilla definitely an SOA is a big player in

 

576

00:29:07.715 –> 00:29:11.965

that is gonna need to be continued to, um, focused on is,

 

577

00:29:12.585 –> 00:29:16.205

is consumer awareness, behavior change, um,

 

578

00:29:17.485 –> 00:29:19.125

consumer education, uh,

 

579

00:29:19.505 –> 00:29:21.205

and certainly a lot of

 

580

00:29:21.205 –> 00:29:23.485

that is probably gonna need to be non-dilutive.

 

581

00:29:23.625 –> 00:29:24.765

So grants, uh,

 

582

00:29:24.945 –> 00:29:28.325

and advocacy, uh, you know, those are gonna be areas

 

583

00:29:28.855 –> 00:29:31.645

we’ve seen a lot of progress on the grant side in some

 

584

00:29:31.645 –> 00:29:33.005

of the work we’re doing.

 

585

00:29:33.065 –> 00:29:35.405

And I think that’s, I think there is a growing

 

586

00:29:35.405 –> 00:29:36.885

acknowledgement and,

 

587

00:29:36.945 –> 00:29:41.365

and awareness of the importance of RD on grants, on,

 

588

00:29:41.905 –> 00:29:45.525

um, you know, kind of consumer behavior research, et cetera,

 

589

00:29:45.525 –> 00:29:48.925

that will kind of probably continue to be, um,

 

590

00:29:49.625 –> 00:29:51.245

an important part of the, uh, puzzle.

 

591

00:29:52.035 –> 00:29:56.055

Next slide. And that’s it.

 

592

00:29:56.675 –> 00:29:59.375

Um, I will wait for, for questions and

 

593

00:29:59.375 –> 00:30:00.575

otherwise, uh, grace,

 

594

00:30:00.885 –> 00:30:04.295

I’ll let you transition us over to KE Labs. Thanks.

 

595

00:30:05.015 –> 00:30:06.825

Awesome. Thank you so much, Jason.

 

596

00:30:07.125 –> 00:30:09.505

Um, so insightful to hear your perspective.

 

597

00:30:10.485 –> 00:30:14.945

Um, and with that, I’ll hand it over to, um, Alex Chesky,

 

598

00:30:14.955 –> 00:30:17.945

who’s the co-founder and CEO of KE Labs.

 

599

00:30:18.805 –> 00:30:22.625

Um, Alex has a background in fashion design and economics,

 

600

00:30:22.845 –> 00:30:26.385

and is driving the development of Keo Labs business and r

 

601

00:30:26.385 –> 00:30:29.425

and d operations to scale the production of Cal

 

602

00:30:29.445 –> 00:30:31.905

and Fiber, the company’s flagship product.

 

603

00:30:32.565 –> 00:30:35.505

Um, as a systems thinker, Alex connects the dots

 

604

00:30:35.505 –> 00:30:38.665

between supply chain logistics, financial planning,

 

605

00:30:39.045 –> 00:30:40.065

and business development.

 

606

00:30:40.775 –> 00:30:44.465

Alex is also a Forbes 30 under 30 member, a testament

 

607

00:30:44.465 –> 00:30:47.345

to her unique and pioneering perspective on the intersection

 

608

00:30:47.405 –> 00:30:48.625

of science and design.

 

609

00:30:51.865 –> 00:30:54.015

Thank you, grace. And hi everyone.

 

610

00:30:54.275 –> 00:30:55.775

Um, so excited to be here

 

611

00:30:55.915 –> 00:30:58.335

and talk to you guys about what we’re doing at Kehl Labs.

 

612

00:30:59.235 –> 00:31:01.655

Um, so for some background, uh,

 

613

00:31:01.755 –> 00:31:04.335

the company was started in 2017,

 

614

00:31:05.455 –> 00:31:08.835

but of course, the idea for it, um, started

 

615

00:31:09.695 –> 00:31:11.355

before then, actually a year

 

616

00:31:11.355 –> 00:31:14.675

before then, uh, while my business partner, Tessa Callahan

 

617

00:31:14.675 –> 00:31:17.915

and I, uh, were at Design school in New York.

 

618

00:31:19.125 –> 00:31:23.185

So since we were already in New York, we decided to, um,

 

619

00:31:23.185 –> 00:31:25.105

initially establish the company there.

 

620

00:31:25.725 –> 00:31:26.945

And then, uh,

 

621

00:31:26.945 –> 00:31:28.425

after a few years, we decided

 

622

00:31:28.445 –> 00:31:29.905

to move down to North Carolina.

 

623

00:31:30.165 –> 00:31:33.585

So our HQ is in the research triangle area

 

624

00:31:33.645 –> 00:31:35.665

of North Carolina today.

 

625

00:31:37.405 –> 00:31:40.665

Um, and how does seaweed play into what we’re doing at kehl?

 

626

00:31:41.405 –> 00:31:44.625

Um, as I mentioned, uh, myself

 

627

00:31:44.625 –> 00:31:46.905

and my business partner come from design backgrounds.

 

628

00:31:47.485 –> 00:31:50.785

So we had firsthand experience for the need, uh,

 

629

00:31:50.785 –> 00:31:52.385

for better materials in the market

 

630

00:31:52.525 –> 00:31:54.505

to design better products.

 

631

00:31:55.075 –> 00:31:57.675

Super simple. We started

 

632

00:31:57.735 –> 00:31:59.835

to see brands making these commitments towards

 

633

00:31:59.835 –> 00:32:02.075

sustainability, however, they continue

 

634

00:32:02.075 –> 00:32:05.075

to use synthetic materials to make those products.

 

635

00:32:05.295 –> 00:32:07.595

So how, in fact, were they actually going

 

636

00:32:07.595 –> 00:32:09.875

to achieve those sustainability goals?

 

637

00:32:11.255 –> 00:32:14.395

So we started to ask ourselves, how can we, um,

 

638

00:32:15.065 –> 00:32:19.895

make something truly sustainable, uh, with what’s available

 

639

00:32:19.995 –> 00:32:21.575

to us, um, on the planet?

 

640

00:32:21.715 –> 00:32:25.415

So from the onset, we had a few constraints, which included,

 

641

00:32:26.825 –> 00:32:29.205

um, working with existing supply chains.

 

642

00:32:29.905 –> 00:32:33.815

Um, we also wanted to, we knew we wanted to create a fiber

 

643

00:32:33.815 –> 00:32:36.495

because it’s an essential building block to so many

 

644

00:32:36.555 –> 00:32:39.765

of the products and materials that we use today.

 

645

00:32:40.625 –> 00:32:43.765

And we also wanted to, um, make sure

 

646

00:32:43.765 –> 00:32:47.405

that it worked in existing, uh, industry equipment,

 

647

00:32:47.845 –> 00:32:49.405

specifically in the textile sector.

 

648

00:32:50.145 –> 00:32:52.285

Um, and for us, seaweed checked all those boxes.

 

649

00:32:52.385 –> 00:32:56.845

We were able to create a, um, reproducible fiber.

 

650

00:32:57.905 –> 00:32:59.165

We were able to scale it.

 

651

00:32:59.535 –> 00:33:04.165

We’ve put it into, um, test in different, uh, industry

 

652

00:33:04.825 –> 00:33:07.085

in different types of industry equipments on the textile

 

653

00:33:07.085 –> 00:33:08.845

front, we’ve developed products.

 

654

00:33:09.105 –> 00:33:12.765

So it’s been a fantastic, um, resource for us.

 

655

00:33:14.905 –> 00:33:19.565

Um, and, uh, thus far we have, um,

 

656

00:33:19.665 –> 00:33:21.885

raised about $18 million in funding.

 

657

00:33:22.625 –> 00:33:24.565

Um, oh, I’m sorry. And then on scent,

 

658

00:33:24.675 –> 00:33:26.165

just specifically on the fiber.

 

659

00:33:26.385 –> 00:33:28.565

So scent is our core product.

 

660

00:33:29.025 –> 00:33:32.165

Um, it is exclusively manufactured at our facilities in

 

661

00:33:32.165 –> 00:33:34.725

North Carolina, and we use a wet spinning process

 

662

00:33:35.065 –> 00:33:36.205

to create that.

 

663

00:33:36.665 –> 00:33:40.205

Um, what spinning is a traditional fiber spinning method

 

664

00:33:40.315 –> 00:33:42.885

used for manmade cellulose fiber.

 

665

00:33:42.985 –> 00:33:44.685

So that includes things like Visco

 

666

00:33:45.805 –> 00:33:48.665

or Rayon, if you guys are familiar with those.

 

667

00:33:49.005 –> 00:33:51.165

Um, and

 

668

00:33:51.165 –> 00:33:55.285

after we make the fiber, we sell it directly to brands.

 

669

00:33:55.425 –> 00:33:57.485

So we are positioned as a B2B business.

 

670

00:33:57.945 –> 00:33:59.085

The brands take that fiber

 

671

00:33:59.185 –> 00:34:02.005

and implement it into the materials, um,

 

672

00:34:02.385 –> 00:34:04.365

and goods that they’re developing.

 

673

00:34:04.745 –> 00:34:07.285

So that could be a shirt, it could be a chair, it could be,

 

674

00:34:07.785 –> 00:34:11.635

um, a pillow, anything that really uses fibers,

 

675

00:34:11.855 –> 00:34:12.875

um, at the end of the day.

 

676

00:34:14.095 –> 00:34:16.635

Um, and some, we’ve worked with a number of brands to date,

 

677

00:34:16.775 –> 00:34:18.355

um, including Stella McCartney.

 

678

00:34:18.735 –> 00:34:20.355

Um, and there are many more products

 

679

00:34:20.355 –> 00:34:22.115

that are coming to the market soon.

 

680

00:34:24.015 –> 00:34:25.595

So since the formation of kehl,

 

681

00:34:25.595 –> 00:34:27.555

we have raised about $18 million in funding.

 

682

00:34:27.905 –> 00:34:30.195

Most of that funding in our case has come from Venture

 

683

00:34:30.195 –> 00:34:33.475

capital, um, including third Nature, um,

 

684

00:34:33.575 –> 00:34:35.395

who we just heard Jason speak about.

 

685

00:34:36.595 –> 00:34:39.855

Um, but some of that has also come from grant funding, um,

 

686

00:34:39.945 –> 00:34:41.575

which has been really amazing.

 

687

00:34:41.575 –> 00:34:45.655

Unfortunately, the grants that we were able to, um, receive,

 

688

00:34:46.235 –> 00:34:48.335

uh, are no longer in existence.

 

689

00:34:48.395 –> 00:34:52.785

So, um, I’ll talk about some other options that, um,

 

690

00:34:52.795 –> 00:34:57.225

folks can look into, um, as an alternative, um, next slide.

 

691

00:34:59.555 –> 00:35:03.375

So, um, how we’ve kind of grown since the start.

 

692

00:35:03.675 –> 00:35:06.455

Um, thanks to our investors, we have gotten to

 

693

00:35:06.455 –> 00:35:07.495

where we are today.

 

694

00:35:08.075 –> 00:35:11.135

Um, but there are also other significant trip contributors

 

695

00:35:11.795 –> 00:35:14.975

to our growth and success over the years.

 

696

00:35:16.475 –> 00:35:19.515

Starting with the Biodesign Challenge, that was really

 

697

00:35:19.525 –> 00:35:21.435

where we got our start.

 

698

00:35:21.735 –> 00:35:25.195

And the idea for Keel Labs came to be.

 

699

00:35:25.895 –> 00:35:29.635

Um, the Biodesign Challenge is an international design

 

700

00:35:30.095 –> 00:35:33.475

and science competition where they try to bring designers

 

701

00:35:33.475 –> 00:35:34.475

and scientists together

 

702

00:35:34.535 –> 00:35:37.325

to develop really world changing ideas.

 

703

00:35:38.855 –> 00:35:42.955

So we participated in that in 2016, um,

 

704

00:35:43.415 –> 00:35:45.755

and happened to win the competition that year,

 

705

00:35:45.755 –> 00:35:47.515

which is the first year also ran.

 

706

00:35:48.215 –> 00:35:50.315

And there have been so many amazing ideas

 

707

00:35:50.315 –> 00:35:53.435

that have come from that since it is still running.

 

708

00:35:53.465 –> 00:35:54.555

It’s an amazing program.

 

709

00:35:54.945 –> 00:35:56.995

It’s usually affiliated with universities,

 

710

00:35:57.175 –> 00:35:58.995

so if you are in college

 

711

00:35:59.095 –> 00:36:01.955

or in high school, um, there are opportunities

 

712

00:36:02.135 –> 00:36:05.195

for those schools to, uh, get involved.

 

713

00:36:07.265 –> 00:36:09.605

Um, and after that, after,

 

714

00:36:10.775 –> 00:36:13.005

after some interest in traction, um,

 

715

00:36:14.315 –> 00:36:17.765

when we won the Biodesign competition, we,

 

716

00:36:17.865 –> 00:36:20.325

we thought there was something else for us to explore.

 

717

00:36:20.325 –> 00:36:22.445

We thought there was potential with the idea we had

 

718

00:36:22.445 –> 00:36:26.645

for kehl, and, uh, we decided to further pursue the idea.

 

719

00:36:26.785 –> 00:36:29.365

So we got some market validation for

 

720

00:36:29.365 –> 00:36:31.875

what we were doing at the time.

 

721

00:36:32.015 –> 00:36:35.875

We, we knew we specifically needed a little bit more support

 

722

00:36:36.095 –> 00:36:37.555

on the business development front

 

723

00:36:37.575 –> 00:36:38.995

and on the product development front.

 

724

00:36:40.165 –> 00:36:41.865

So we were looking for programs

 

725

00:36:42.335 –> 00:36:44.785

that could support us in those ways.

 

726

00:36:45.845 –> 00:36:48.985

Uh, with that we identified Indie bio, um,

 

727

00:36:49.205 –> 00:36:51.785

and fashion for Good, uh, both

 

728

00:36:51.785 –> 00:36:53.785

of which we ended up participating in.

 

729

00:36:55.325 –> 00:36:57.105

Um, I’ll speak about them a little bit

 

730

00:36:57.105 –> 00:36:58.265

more on the next slide.

 

731

00:36:58.645 –> 00:36:59.945

Um, and

 

732

00:37:01.075 –> 00:37:04.865

after those accelerator programs, we raised a number of, uh,

 

733

00:37:04.865 –> 00:37:06.505

venture capital fundraising rounds

 

734

00:37:06.505 –> 00:37:08.985

and completed our most recent round,

 

735

00:37:08.995 –> 00:37:12.345

which was our Series A in April, 2022.

 

736

00:37:14.375 –> 00:37:18.475

Um, something that’s also important is, um,

 

737

00:37:18.505 –> 00:37:20.875

marketing the business and bringing the business to light

 

738

00:37:20.875 –> 00:37:22.635

and showing what we do and who we are

 

739

00:37:22.695 –> 00:37:26.355

and what ways that we did that was through social media

 

740

00:37:26.575 –> 00:37:30.155

and through other forms of exposure, including competitions

 

741

00:37:30.215 –> 00:37:31.835

or conferences or grants.

 

742

00:37:32.495 –> 00:37:35.075

Um, and these have all been really helpful in connecting us

 

743

00:37:35.075 –> 00:37:37.115

to the right people, getting ourselves in front

 

744

00:37:37.115 –> 00:37:40.715

of the right partners, the right brands, et cetera.

 

745

00:37:42.165 –> 00:37:44.865

Um, and then bringing in expertise from the outside.

 

746

00:37:45.245 –> 00:37:47.985

We know that we don’t know everything, so we look

 

747

00:37:47.985 –> 00:37:50.625

to the experts that have been in the industry

 

748

00:37:50.685 –> 00:37:52.985

for a long time to, to help guide us

 

749

00:37:53.045 –> 00:37:57.285

and to help, um, fill in the blanks that we have

 

750

00:37:58.405 –> 00:37:59.465

around what we’re doing.

 

751

00:38:00.365 –> 00:38:03.115

Um, so,

 

752

00:38:03.175 –> 00:38:04.315

and some of that guidance

 

753

00:38:04.785 –> 00:38:08.275

that we received from experts led us to deciding to move

 

754

00:38:08.275 –> 00:38:09.315

to North Carolina.

 

755

00:38:10.575 –> 00:38:13.955

We did that because we were running outta space in New York.

 

756

00:38:14.455 –> 00:38:16.355

Um, it’s hard to build a manufacturing

 

757

00:38:16.795 –> 00:38:18.315

business in New York City.

 

758

00:38:18.815 –> 00:38:21.715

Um, and many of our initial partners were,

 

759

00:38:21.745 –> 00:38:23.235

were based in North Carolina.

 

760

00:38:24.325 –> 00:38:26.065

Uh, the Carolinas are historically known

 

761

00:38:26.205 –> 00:38:30.785

for their expertise in textiles, in manufacturing,

 

762

00:38:31.485 –> 00:38:33.065

in furniture, uh,

 

763

00:38:33.965 –> 00:38:37.885

and we ended up running our early stage pilot projects

 

764

00:38:37.915 –> 00:38:39.405

with a number of facilities there.

 

765

00:38:40.585 –> 00:38:42.565

Uh, North Carolina also has the last

 

766

00:38:43.245 –> 00:38:45.525

textiles university in the nation,

 

767

00:38:46.385 –> 00:38:49.125

and we were able to attract amazing talent.

 

768

00:38:49.785 –> 00:38:52.565

Um, so we grew our team, we grew our network,

 

769

00:38:53.065 –> 00:38:54.485

we developed our product further

 

770

00:38:55.145 –> 00:38:57.885

by simply picking the right location to be in.

 

771

00:38:59.635 –> 00:39:02.815

Uh, and, uh, with that we were able to scale our product.

 

772

00:39:03.635 –> 00:39:06.735

Um, we were able to share it with brand partners,

 

773

00:39:06.735 –> 00:39:10.475

have them develop their own products using calon,

 

774

00:39:11.175 –> 00:39:15.755

and, um, and focus more on building out our supply chains.

 

775

00:39:15.755 –> 00:39:20.275

We really want to understand, uh, every individual we work

 

776

00:39:20.275 –> 00:39:22.395

with throughout our value chain,

 

777

00:39:22.495 –> 00:39:25.155

all the way from the seaweed growers

 

778

00:39:25.175 –> 00:39:27.915

and farmers to the brands that are, that are,

 

779

00:39:28.015 –> 00:39:29.195

or to the end consumers,

 

780

00:39:29.255 –> 00:39:31.115

and actually understanding how

 

781

00:39:31.145 –> 00:39:32.875

they’re interacting with the material.

 

782

00:39:34.145 –> 00:39:39.035

Um, I think we can go to the next slide here.

 

783

00:39:40.735 –> 00:39:43.915

Uh, so yeah, quickly on the accelerator programs, um,

 

784

00:39:43.915 –> 00:39:46.885

that we’ve participated in, uh,

 

785

00:39:47.195 –> 00:39:48.685

each one is structured a little differently.

 

786

00:39:49.895 –> 00:39:53.075

Uh, I won’t spend too much time going into each of them, um,

 

787

00:39:53.215 –> 00:39:57.475

but a lot of that, a lot of what comes into play is,

 

788

00:39:58.335 –> 00:40:01.665

um, the expertise they provide,

 

789

00:40:02.685 –> 00:40:07.065

the duration of the, uh, accelerated programs themselves,

 

790

00:40:07.065 –> 00:40:09.865

sometimes their months, sometimes their years, um,

 

791

00:40:11.305 –> 00:40:15.085

and other resources that come with them, including funding,

 

792

00:40:15.665 –> 00:40:17.525

uh, some gift funding, some don’t.

 

793

00:40:18.185 –> 00:40:20.365

Uh, some take equity, some don’t.

 

794

00:40:20.945 –> 00:40:23.165

Um, and there is no good

 

795

00:40:23.165 –> 00:40:26.565

or bad in terms of which program you decide to pursue.

 

796

00:40:27.465 –> 00:40:29.725

It really just depends on what you need at

 

797

00:40:29.725 –> 00:40:31.325

that point in your business.

 

798

00:40:32.415 –> 00:40:35.395

So Indie Bio gave us the scientific, um, support

 

799

00:40:35.415 –> 00:40:36.795

and the business support and fashion

 

800

00:40:36.855 –> 00:40:38.555

for good gave us the access to brands,

 

801

00:40:38.615 –> 00:40:42.435

and we are able to, um, get feedback really quickly

 

802

00:40:42.655 –> 00:40:46.875

and find product market fit through, uh, those experiences.

 

803

00:40:48.285 –> 00:40:51.315

We’ve also applied to other grants, as I mentioned,

 

804

00:40:51.315 –> 00:40:53.595

and received funding from some, um,

 

805

00:40:53.655 –> 00:40:56.675

but we also haven’t received many, um, some

 

806

00:40:56.675 –> 00:40:58.875

that I think are really worth noting.

 

807

00:40:59.295 –> 00:41:00.995

Uh, for folks in this room are Ray

 

808

00:41:00.995 –> 00:41:02.795

of Hope and Earth Shop Prize.

 

809

00:41:02.805 –> 00:41:04.555

These are amazing grants that have been running

 

810

00:41:04.555 –> 00:41:06.755

for the last few years, um, and,

 

811

00:41:06.775 –> 00:41:08.315

and absolutely worth noting.

 

812

00:41:09.055 –> 00:41:12.915

Um, Jason mentioned a number of resources. SOI is here.

 

813

00:41:12.915 –> 00:41:14.915

They’re also a great resource in the blue economy,

 

814

00:41:15.175 –> 00:41:19.075

but Noah is also, um, bringing in a lot of support, uh,

 

815

00:41:19.095 –> 00:41:21.235

the N-S-F-E-P-I, et cetera.

 

816

00:41:22.055 –> 00:41:25.905

There’s also one really amazing seaweed resource that I like

 

817

00:41:25.905 –> 00:41:27.265

to reference every once in a while.

 

818

00:41:28.085 –> 00:41:31.985

It was built out by Steven Herman, it’s called Fmy.

 

819

00:41:32.285 –> 00:41:34.725

He tracks all the different seaweed com companies

 

820

00:41:34.725 –> 00:41:37.445

and ideas that are being, um, developed.

 

821

00:41:37.445 –> 00:41:38.685

Seaweed farmers are on there.

 

822

00:41:39.145 –> 00:41:41.165

Uh, if you haven’t seen it,

 

823

00:41:41.275 –> 00:41:42.685

it’s definitely worth checking out.

 

824

00:41:44.695 –> 00:41:48.955

Um, next slide. So, challenges and opportunities.

 

825

00:41:49.265 –> 00:41:50.635

There’s obviously different ones

 

826

00:41:50.635 –> 00:41:51.995

that we’re gonna experience at different

 

827

00:41:52.055 –> 00:41:53.915

stages of the company.

 

828

00:41:54.255 –> 00:41:56.835

Um, we’re at a growth stage right now,

 

829

00:41:57.125 –> 00:41:59.275

which means we are growing and expanding

 

830

00:41:59.735 –> 00:42:01.995

and trying to get our product, um,

 

831

00:42:02.335 –> 00:42:04.275

to be more accessible to the market.

 

832

00:42:05.095 –> 00:42:08.355

Um, with that we’re experiencing things for the first time

 

833

00:42:08.415 –> 00:42:11.915

and, and trying to navigate, um, some

 

834

00:42:11.915 –> 00:42:12.915

of what’s coming our way.

 

835

00:42:15.305 –> 00:42:18.405

Uh, another thing that’s kind of coming to light for us is,

 

836

00:42:19.465 –> 00:42:21.565

um, communicating with our end users.

 

837

00:42:21.825 –> 00:42:23.165

So we are a B2B business.

 

838

00:42:23.225 –> 00:42:24.725

We mostly communicate to brands,

 

839

00:42:25.345 –> 00:42:27.565

but I think it’s also really important for us to consider

 

840

00:42:27.945 –> 00:42:29.845

how our end users

 

841

00:42:30.415 –> 00:42:33.805

navigating all this information about next gen materials,

 

842

00:42:34.235 –> 00:42:35.285

what does it mean to them?

 

843

00:42:35.435 –> 00:42:38.525

What is actually value that valuable for them to know about?

 

844

00:42:39.305 –> 00:42:42.965

Um, how do you effectively convince someone

 

845

00:42:43.065 –> 00:42:46.605

to pick a seaweed material over a non seaweed material?

 

846

00:42:48.415 –> 00:42:50.035

Um, and industry expertise.

 

847

00:42:50.205 –> 00:42:53.955

We’re, we’re dealing with, uh, an industry that is massive,

 

848

00:42:54.215 –> 00:42:57.915

but also in many ways shrinking in the us,

 

849

00:42:57.925 –> 00:42:59.315

especially the knowledge base.

 

850

00:42:59.455 –> 00:43:02.395

So, um, we’re always looking to connect with more

 

851

00:43:03.185 –> 00:43:05.715

expertise in this space, um,

 

852

00:43:07.455 –> 00:43:08.555

as well as seaweed.

 

853

00:43:08.855 –> 00:43:11.835

Um, the seaweed industry is really vital to our success.

 

854

00:43:11.935 –> 00:43:13.595

So we’re always looking to connect

 

855

00:43:13.595 –> 00:43:16.435

with seaweed farmers in the US and outside of the US

 

856

00:43:17.055 –> 00:43:18.235

and continue to build

 

857

00:43:18.235 –> 00:43:20.195

and secure our supply chains as we grow.

 

858

00:43:21.825 –> 00:43:23.725

And then some upcoming opportunities for us

 

859

00:43:24.265 –> 00:43:25.885

are brand launches.

 

860

00:43:26.455 –> 00:43:30.205

We’re developing products in primarily the apparel sector,

 

861

00:43:30.345 –> 00:43:33.525

but fibers are used in, in all sorts of industries.

 

862

00:43:34.145 –> 00:43:38.085

So we’re really interested in looking to broaden that

 

863

00:43:38.345 –> 00:43:42.805

and work with within the interior sector, uh,

 

864

00:43:42.805 –> 00:43:47.765

in the automated automotive sector, um, in the, um,

 

865

00:43:48.495 –> 00:43:50.565

disposable sector or single use.

 

866

00:43:51.345 –> 00:43:55.005

Um, so figuring out how we can apply

 

867

00:43:55.965 –> 00:43:57.445

cent into those areas.

 

868

00:43:59.375 –> 00:44:00.635

Um, and like I said

 

869

00:44:00.655 –> 00:44:02.715

before, working closer with our supply chains

 

870

00:44:02.715 –> 00:44:04.155

and partners is really key to us.

 

871

00:44:04.895 –> 00:44:07.595

Um, there’s a lot of opportunities for us to connect further

 

872

00:44:08.025 –> 00:44:10.355

with seaweed farmers and textile mills.

 

873

00:44:10.615 –> 00:44:13.395

So if anyone here is looking to connect

 

874

00:44:13.395 –> 00:44:14.595

with us, please reach out.

 

875

00:44:15.535 –> 00:44:17.635

Um, and then opportunities around regulation.

 

876

00:44:17.895 –> 00:44:20.235

Um, we didn’t really talk about that today,

 

877

00:44:20.295 –> 00:44:24.715

but there, there’s clearly been a lot of regulatory push,

 

878

00:44:25.055 –> 00:44:26.155

um, in the eu,

 

879

00:44:26.615 –> 00:44:28.355

and we’re hoping to see some

 

880

00:44:28.355 –> 00:44:30.515

of those things come into effect, um,

 

881

00:44:31.025 –> 00:44:34.285

and spread, uh, wider, hopefully into the US as well.

 

882

00:44:35.195 –> 00:44:38.355

Uh, next slide. Um,

 

883

00:44:38.375 –> 00:44:41.475

and then our advice when it comes to building a startup, uh,

 

884

00:44:41.675 –> 00:44:44.835

I think it’s important to be clued into the market,

 

885

00:44:45.255 –> 00:44:47.715

to really find a unique opportunity to connect

 

886

00:44:47.715 –> 00:44:49.275

with the local network and understand

 

887

00:44:49.495 –> 00:44:51.515

how things are being worked on,

 

888

00:44:51.515 –> 00:44:54.115

how things operate, who’s a key player.

 

889

00:44:54.815 –> 00:44:57.715

Um, and we’ve said this a bunch today about grants

 

890

00:44:57.775 –> 00:44:59.795

and funding is really important.

 

891

00:45:01.365 –> 00:45:04.385

Um, and some interesting things I wanted

 

892

00:45:04.385 –> 00:45:05.465

to just flag around.

 

893

00:45:05.535 –> 00:45:07.825

Seaweed in particular, there’s a huge and massive

 

894

00:45:07.845 –> 00:45:09.385

and amazing community and network.

 

895

00:45:10.285 –> 00:45:12.065

Um, I think there’s also opportunities

 

896

00:45:12.485 –> 00:45:16.265

and initiatives, um, around making farming easier

 

897

00:45:16.445 –> 00:45:17.465

and more accessible.

 

898

00:45:18.765 –> 00:45:21.465

Um, addressing some of the invasive species

 

899

00:45:21.495 –> 00:45:22.585

that we’re, we’re seeing.

 

900

00:45:22.585 –> 00:45:24.425

Obviously Sargassum is a big one of them,

 

901

00:45:24.445 –> 00:45:26.225

but can’t be the only one.

 

902

00:45:26.845 –> 00:45:28.345

How are we handling these

 

903

00:45:28.365 –> 00:45:30.945

and preventing them from spreading in the future?

 

904

00:45:31.925 –> 00:45:33.945

Um, is there opportunities for us to work

 

905

00:45:33.945 –> 00:45:35.145

with indigenous tribes?

 

906

00:45:35.445 –> 00:45:37.145

And lastly, I think this is so important.

 

907

00:45:37.175 –> 00:45:40.505

Data and collection and organization, sorry, data collection

 

908

00:45:40.505 –> 00:45:42.945

and, and organization of all this information

 

909

00:45:42.945 –> 00:45:45.025

around seaweed is so, so important.

 

910

00:45:45.645 –> 00:45:50.265

Um, I think there’s a lot more that we can do on that front

 

911

00:45:50.445 –> 00:45:53.745

so that we have, uh, the right, the right context

 

912

00:45:54.165 –> 00:45:55.985

to continue building out this industry.

 

913

00:45:57.245 –> 00:46:00.745

Next slide. Uh,

 

914

00:46:00.885 –> 00:46:03.385

and I just wanted to say thank you from the whole keel team.

 

915

00:46:05.845 –> 00:46:06.915

Thank you so much, Alex.

 

916

00:46:07.215 –> 00:46:09.835

Um, incredible story and growth

 

917

00:46:10.175 –> 00:46:11.315

and, um, yeah,

 

918

00:46:11.315 –> 00:46:14.595

totally agree about the data point that you just mentioned.

 

919

00:46:15.095 –> 00:46:16.955

Um, if people haven’t seen it,

 

920

00:46:17.015 –> 00:46:20.115

we do have a kelp impact metrics webinar, um,

 

921

00:46:20.115 –> 00:46:21.315

that we did a couple months ago.

 

922

00:46:21.455 –> 00:46:23.915

So if you wanna learn more about the data collection piece,

 

923

00:46:23.915 –> 00:46:25.075

definitely check that out.

 

924

00:46:26.015 –> 00:46:27.915

Um, so I’m gonna move us over

 

925

00:46:27.915 –> 00:46:29.835

to the questions portion of the webinar.

 

926

00:46:30.455 –> 00:46:32.835

Uh, but really quickly before that, um, I wanted

 

927

00:46:32.835 –> 00:46:36.515

to actually invite, um, Megan Banner from the Gulf of Maine,

 

928

00:46:36.655 –> 00:46:40.355

um, ventures to share the open call for applications

 

929

00:46:40.355 –> 00:46:41.395

for their incubator program,

 

930

00:46:41.455 –> 00:46:43.035

and just give you a little bit more context

 

931

00:46:43.125 –> 00:46:44.195

about that opportunity.

 

932

00:46:44.735 –> 00:46:46.515

Um, Megan, are you here?

 

933

00:46:47.305 –> 00:46:48.915

Yeah, hi. Hi, everyone.

 

934

00:46:49.735 –> 00:46:51.795

Um, yeah, so the go

 

935

00:46:51.795 –> 00:46:53.795

of Maine Research Institute is a research institute

 

936

00:46:53.805 –> 00:46:54.995

based out of Maine.

 

937

00:46:55.575 –> 00:46:59.955

Uh, we are a world class, uh, institute with over a hundred

 

938

00:47:00.475 –> 00:47:04.115

scientists, economists, ecosystem builders, people working

 

939

00:47:04.115 –> 00:47:07.595

with the communities, trying to build the resiliency

 

940

00:47:08.175 –> 00:47:10.155

of our region’s waterways.

 

941

00:47:10.855 –> 00:47:13.715

And we have a team here, um,

 

942

00:47:14.345 –> 00:47:17.315

that focuses on blue economy ventures.

 

943

00:47:17.775 –> 00:47:21.475

And so we have programming that we have, um,

 

944

00:47:21.695 –> 00:47:24.875

and we’re about to launch our third cohort

 

945

00:47:25.055 –> 00:47:28.635

of the Blue Tech Boost, which is for early stage companies

 

946

00:47:28.775 –> 00:47:31.365

who are really looking for targeted support

 

947

00:47:32.345 –> 00:47:36.605

to help them overcome a specific hurdle or milestone.

 

948

00:47:37.065 –> 00:47:39.045

We pair them with someone on our team

 

949

00:47:39.225 –> 00:47:42.445

and we work as facilitators, making sure,

 

950

00:47:42.445 –> 00:47:46.765

getting them con connected with, um, researchers

 

951

00:47:46.945 –> 00:47:48.765

or specialists from our team

 

952

00:47:48.785 –> 00:47:52.725

and our ecosystem to help ’em pull ’em along to, um,

 

953

00:47:52.775 –> 00:47:54.045

reach that milestone.

 

954

00:47:54.825 –> 00:47:57.525

The incubator program also comes

 

955

00:47:57.525 –> 00:48:00.485

with some micro grant funding to help support

 

956

00:48:01.225 –> 00:48:02.605

the project that’s along the way.

 

957

00:48:03.425 –> 00:48:07.045

If you have any questions, um, I believe that you have, uh,

 

958

00:48:07.105 –> 00:48:11.605

in the chat a link to the website, um, where you could also

 

959

00:48:12.285 –> 00:48:15.005

schedule a 15 minute meeting with me where I can talk

 

960

00:48:15.005 –> 00:48:16.125

through some more details.

 

961

00:48:17.025 –> 00:48:20.445

We have our call open till, um, the first week of September.

 

962

00:48:20.665 –> 00:48:22.965

The program starts the end of September

 

963

00:48:23.745 –> 00:48:25.685

and concludes in 10 weeks.

 

964

00:48:26.465 –> 00:48:28.005

Um, the one thing I would like

 

965

00:48:28.005 –> 00:48:31.445

to say about this program is it’s low touch, high impact.

 

966

00:48:32.265 –> 00:48:36.685

Um, the programming time is nothing more than two hours,

 

967

00:48:37.505 –> 00:48:38.845

um, throughout a week.

 

968

00:48:39.345 –> 00:48:41.925

And that it’s really meant to just really help you on

 

969

00:48:41.925 –> 00:48:45.825

with a specific issue that you might be trying to have,

 

970

00:48:46.085 –> 00:48:47.425

um, tackling at that time.

 

971

00:48:47.685 –> 00:48:49.665

So that’s the Blue Tech Boost.

 

972

00:48:50.125 –> 00:48:53.305

Um, really great listening in on this webinar. Thanks.

 

973

00:48:53.905 –> 00:48:57.045

Thanks, Megan. Um, yeah, clearly lots

 

974

00:48:57.045 –> 00:48:58.165

of opportunities available.

 

975

00:48:58.825 –> 00:49:02.645

Um, so let’s go ahead and move over to the q and a section.

 

976

00:49:03.385 –> 00:49:06.405

Um, it looks like we have a couple of questions about, um,

 

977

00:49:06.545 –> 00:49:08.525

future demand for, um,

 

978

00:49:08.675 –> 00:49:12.405

seaweed grown in the us specifically in CPG food

 

979

00:49:12.405 –> 00:49:13.485

products in retail.

 

980

00:49:14.025 –> 00:49:16.245

Um, Jason, I don’t know if you have any insights

 

981

00:49:16.245 –> 00:49:17.685

that you wanna share, um,

 

982

00:49:18.185 –> 00:49:22.205

or Camilla about, um, yeah, how you see the future

 

983

00:49:22.465 –> 00:49:26.205

of food-based seaweed products in CBG and retail.

 

984

00:49:29.345 –> 00:49:31.165

Boy, um, great question.

 

985

00:49:31.625 –> 00:49:36.565

Uh, we’re obviously with the A SF hat on, it’s a,

 

986

00:49:36.635 –> 00:49:38.285

it’s a very, a

 

987

00:49:40.395 –> 00:49:41.805

current discussion.

 

988

00:49:42.425 –> 00:49:46.385

Um, you know, they, they’re in a few different, you know,

 

989

00:49:46.695 –> 00:49:51.025

they’ve got ferments, they have, uh, their, you know, uh,

 

990

00:49:51.385 –> 00:49:52.825

burger Sea veggie burgers.

 

991

00:49:52.935 –> 00:49:55.105

They have, uh, kelp cubes.

 

992

00:49:55.185 –> 00:49:58.245

I mean, at the end of the day, it’s, um, you know,

 

993

00:49:58.245 –> 00:49:59.405

it’s a tough space.

 

994

00:49:59.765 –> 00:50:02.525

I, I think, you know, it’s a blessing

 

995

00:50:02.525 –> 00:50:05.605

and a curse as, as referenced Akua 12 tides,

 

996

00:50:05.965 –> 00:50:09.145

companies like this, you know, it is just a different model.

 

997

00:50:09.445 –> 00:50:13.145

Um, you know, Atlantic Sea Farms is fortunate in some ways

 

998

00:50:13.175 –> 00:50:14.985

that they have a very strong

 

999

00:50:15.005 –> 00:50:18.865

and committed investor base, um, who is there.

 

1000

00:50:19.205 –> 00:50:21.505

And, and, um, and,

 

1001

00:50:21.605 –> 00:50:24.465

and it’s a model that is certainly complicated.

 

1002

00:50:24.605 –> 00:50:26.105

You know, I, it’s something that

 

1003

00:50:26.635 –> 00:50:29.485

we’ve talked about quite a bit is, you know,

 

1004

00:50:29.485 –> 00:50:31.725

typically investors want to put you in a bucket.

 

1005

00:50:32.265 –> 00:50:33.965

You know, are you a CPG company?

 

1006

00:50:34.225 –> 00:50:36.925

Are you an Ag tech company or more upstream?

 

1007

00:50:38.025 –> 00:50:41.325

And, you know, this is kind of one of the things we’re,

 

1008

00:50:41.325 –> 00:50:43.805

we’re working on, but it’s gonna take time, which is,

 

1009

00:50:44.545 –> 00:50:46.285

you know, to be a systemic

 

1010

00:50:46.885 –> 00:50:49.845

investor is very different than traditional methodologies

 

1011

00:50:50.065 –> 00:50:52.405

of quote de-risking an investment

 

1012

00:50:52.505 –> 00:50:53.965

and looking at where they play

 

1013

00:50:54.025 –> 00:50:55.525

and what their end product is,

 

1014

00:50:55.625 –> 00:50:57.325

and how they are, you know,

 

1015

00:50:57.325 –> 00:51:00.645

keeping more arms length from their upstream supply.

 

1016

00:51:00.785 –> 00:51:03.045

And it’s, it’s one of the great challenges

 

1017

00:51:03.045 –> 00:51:06.525

because when we first introduce a company like an a SF,

 

1018

00:51:07.145 –> 00:51:08.765

an investor says, well, wait a second.

 

1019

00:51:08.905 –> 00:51:11.085

You know, why are they involved in

 

1020

00:51:11.085 –> 00:51:12.165

all these different parts?

 

1021

00:51:12.425 –> 00:51:14.605

And you know, it, at the end of the day,

 

1022

00:51:14.605 –> 00:51:15.805

it is a blessing and a curse.

 

1023

00:51:15.915 –> 00:51:16.965

It’s highly complex.

 

1024

00:51:17.025 –> 00:51:19.645

It makes it much more difficult to, uh, you know,

 

1025

00:51:19.645 –> 00:51:22.005

to raise in some ways, which is an already

 

1026

00:51:22.145 –> 00:51:24.365

and a very difficult environment currently.

 

1027

00:51:25.225 –> 00:51:28.445

But it, it also provides long-term if, if, uh,

 

1028

00:51:28.445 –> 00:51:30.845

they can get their resiliency, you know, and, and,

 

1029

00:51:30.945 –> 00:51:33.685

and like I said earlier, you know, the cooperative nature

 

1030

00:51:33.825 –> 00:51:36.525

of, you know, partnering with, uh, you know,

 

1031

00:51:36.525 –> 00:51:38.645

partner farmers is, is an important part,

 

1032

00:51:38.665 –> 00:51:40.565

but CPG is really tough.

 

1033

00:51:40.755 –> 00:51:43.805

I’ll leave it at that. I’ll let the companies do the,

 

1034

00:51:44.145 –> 00:51:45.245

do the talking on it.

 

1035

00:51:45.425 –> 00:51:48.885

Um, and you know, honestly, there’s other channels

 

1036

00:51:48.885 –> 00:51:50.525

that I think maybe we have some excitement around.

 

1037

00:51:50.645 –> 00:51:53.165

I think there’s other, you know, uh, we’ve been,

 

1038

00:51:53.185 –> 00:51:56.245

we get asked, well, why does a SF focus on, on kelp?

 

1039

00:51:56.245 –> 00:51:59.245

Well, besides the fact that native, it’s, it’s, it’s

 

1040

00:51:59.315 –> 00:52:01.965

what is able to be leveraged with line grown.

 

1041

00:52:02.225 –> 00:52:05.885

You know, kind of, you know, as this picture shows kind of,

 

1042

00:52:05.885 –> 00:52:08.965

uh, you know, way, but there are probably other, uh,

 

1043

00:52:09.385 –> 00:52:12.645

you know, species that and, you know, can be introduced

 

1044

00:52:12.665 –> 00:52:15.485

and that might, might have some appeal, um,

 

1045

00:52:16.475 –> 00:52:20.525

that maybe some consumers, you know, which Mike had in the q

 

1046

00:52:20.525 –> 00:52:23.885

and a as well, may, uh, may be more inclined, uh,

 

1047

00:52:24.025 –> 00:52:27.125

to be interested in, uh, versus a kelp base.

 

1048

00:52:27.305 –> 00:52:28.565

So I’ll leave it at that.

 

1049

00:52:28.645 –> 00:52:30.925

I know there’s plenty of experience in this room.

 

1050

00:52:31.705 –> 00:52:34.165

Um, but yeah, it’s something that’s on our mind.

 

1051

00:52:34.335 –> 00:52:39.165

We’re, we’re, we’re working on both end use application on,

 

1052

00:52:39.745 –> 00:52:43.205

you know, whether it’s kelp or, or alternative, um,

 

1053

00:52:43.265 –> 00:52:44.925

and what channels and, uh,

 

1054

00:52:44.945 –> 00:52:46.685

and then also the business model of it,

 

1055

00:52:46.685 –> 00:52:48.805

and then consumer behavior change

 

1056

00:52:49.305 –> 00:52:52.245

and investor behavior change, which is another long,

 

1057

00:52:52.465 –> 00:52:53.805

uh, term goal.

 

1058

00:52:57.475 –> 00:53:01.225

Thank you, Jason. Um, yeah, actually in our last webinar

 

1059

00:53:01.485 –> 00:53:03.625

as well, we had Food for Climate League

 

1060

00:53:03.645 –> 00:53:07.185

and they did a lot of research into, um, consumer acceptance

 

1061

00:53:07.405 –> 00:53:09.745

of sea vegetable food products.

 

1062

00:53:09.745 –> 00:53:12.265

So definitely check that out for more information as well.

 

1063

00:53:12.325 –> 00:53:14.305

And, and there’s a lot to learn, um, sort

 

1064

00:53:14.305 –> 00:53:15.745

of about terminology and,

 

1065

00:53:15.765 –> 00:53:18.505

and what consumers are looking for with respect to,

 

1066

00:53:18.805 –> 00:53:20.185

um, kelp based products.

 

1067

00:53:20.685 –> 00:53:23.065

Do other speakers wanna weigh in on that one?

 

1068

00:53:23.065 –> 00:53:24.865

Otherwise we can move to the next question.

 

1069

00:53:29.035 –> 00:53:32.645

Cool. Okay. Um, so a question for Kehl Labs.

 

1070

00:53:32.865 –> 00:53:36.405

Um, Alex, could you tell us more, um, about

 

1071

00:53:37.085 –> 00:53:39.885

sourcing your sourcing strategy and what that looks like?

 

1072

00:53:42.005 –> 00:53:45.845

Absolutely. Um, we primarily work with Brown seaweeds,

 

1073

00:53:46.025 –> 00:53:48.965

so we’re limited to, uh, to those.

 

1074

00:53:49.385 –> 00:53:51.285

Um, kelp is obviously a brown seaweed

 

1075

00:53:51.285 –> 00:53:52.445

and one that we’ve worked with.

 

1076

00:53:53.105 –> 00:53:56.285

Um, what we’ve noticed though is, uh,

 

1077

00:53:56.555 –> 00:53:59.205

working in the US is a bit challenging for us,

 

1078

00:53:59.205 –> 00:54:02.725

particularly right now due to volumes and price points.

 

1079

00:54:03.345 –> 00:54:06.685

Um, so if there is any way we can support initiatives in the

 

1080

00:54:06.745 –> 00:54:10.805

US on, um, getting those, uh, volumes

 

1081

00:54:10.805 –> 00:54:15.485

and price points to be more, um, to volumes to be higher

 

1082

00:54:15.485 –> 00:54:16.485

and price points to be lower,

 

1083

00:54:16.555 –> 00:54:19.005

that would be obviously within our interest.

 

1084

00:54:19.585 –> 00:54:22.685

Um, and as a result is kind of let us to look outside

 

1085

00:54:22.685 –> 00:54:27.405

of the US So we source, um, from, uh, Europe,

 

1086

00:54:27.495 –> 00:54:31.245

south America, Asia, kind of all over right now, um,

 

1087

00:54:31.265 –> 00:54:34.405

in order to, um, plan for the future

 

1088

00:54:34.465 –> 00:54:36.685

and make sure we’re diversifying our raw materials.

 

1089

00:54:39.565 –> 00:54:41.985

Thanks for sharing that. And yeah, yeah, we hear that time

 

1090

00:54:41.985 –> 00:54:44.105

and time again from buyers is that they’re,

 

1091

00:54:44.105 –> 00:54:46.745

they’re really interested in purchasing seaweed

 

1092

00:54:46.745 –> 00:54:47.905

that’s grown here in the us

 

1093

00:54:47.925 –> 00:54:50.785

but there are just bottlenecks that have to be solved, um,

 

1094

00:54:50.785 –> 00:54:53.425

with processing and getting it into the formats, um,

 

1095

00:54:53.425 –> 00:54:56.625

that buyers are looking for, dry it extracted, et cetera.

 

1096

00:54:56.965 –> 00:54:59.945

Um, so definitely opportunity to work on these challenges

 

1097

00:55:00.325 –> 00:55:02.185

and, um, a lot of potential, a lot

 

1098

00:55:02.185 –> 00:55:04.625

of buyers on the other side who want to work with you.

 

1099

00:55:04.965 –> 00:55:06.985

If we can solve these challenges as an industry,

 

1100

00:55:08.795 –> 00:55:09.795

Yeah, for sure. Happy to

 

1101

00:55:09.795 –> 00:55:11.285

come together with people on

 

1102

00:55:11.285 –> 00:55:12.605

that in whatever way we can.

 

1103

00:55:12.845 –> 00:55:15.085

’cause it is, it is in both people’s fa favor.

 

1104

00:55:16.635 –> 00:55:20.075

Absolutely. Um, okay, a question from Mike.

 

1105

00:55:20.295 –> 00:55:23.515

Um, so Mike’s wondering, um, I know

 

1106

00:55:24.165 –> 00:55:27.995

Jason mentioned this, um, around raising awareness, um,

 

1107

00:55:28.265 –> 00:55:30.595

with consumers and sort of behavior change

 

1108

00:55:30.595 –> 00:55:31.635

regarding seaweed.

 

1109

00:55:31.975 –> 00:55:33.275

Um, Mike mentioned

 

1110

00:55:33.275 –> 00:55:35.555

that their organization has found it an uphill battle.

 

1111

00:55:36.015 –> 00:55:38.395

Um, so what is, what advice do you have for folks

 

1112

00:55:38.395 –> 00:55:42.035

who are looking to, um, you know, raise consumer awareness?

 

1113

00:55:48.875 –> 00:55:50.735

And anyone’s, anyone’s welcome to jump in?

 

1114

00:55:55.675 –> 00:55:58.715

I mean, I, I referenced it a little bit in my discussion,

 

1115

00:55:58.715 –> 00:56:02.035

which is I think, you know, there needs to be some funding.

 

1116

00:56:02.375 –> 00:56:04.755

It, it’s a tough, it’s a tough space,

 

1117

00:56:04.895 –> 00:56:07.675

but again, you know, it’s not, it, it is consumer awareness.

 

1118

00:56:07.785 –> 00:56:11.235

It’s it investor awareness, it’s company awareness.

 

1119

00:56:11.365 –> 00:56:15.435

There just needs to just generally be more awareness, um,

 

1120

00:56:15.695 –> 00:56:19.475

on, on the space, uh, across all end use applications.

 

1121

00:56:19.715 –> 00:56:23.965

I mean, I think as, as Alex probably will, will attest, it’s

 

1122

00:56:24.345 –> 00:56:27.525

for particularly looking at a company like a SF

 

1123

00:56:27.545 –> 00:56:29.605

and probably others on this, on this meeting

 

1124

00:56:30.315 –> 00:56:34.845

when you’re a producer, um, you know, that, you know,

 

1125

00:56:35.475 –> 00:56:39.565

like a SF there was I think some excitement a few years ago

 

1126

00:56:39.565 –> 00:56:40.965

about emerging companies

 

1127

00:56:40.985 –> 00:56:43.325

and the volumes that they might be able to,

 

1128

00:56:43.865 –> 00:56:48.125

to purchase particularly on biomaterials areas like that.

 

1129

00:56:48.465 –> 00:56:50.405

And, um, it’s been tough

 

1130

00:56:50.405 –> 00:56:52.325

because maybe some of the assumptions

 

1131

00:56:52.325 –> 00:56:54.365

that were baked in a few years ago in a,

 

1132

00:56:54.385 –> 00:56:57.485

in a more high fueled VC environment where those

 

1133

00:56:58.015 –> 00:57:01.285

innovative emerging companies were, you know,

 

1134

00:57:01.505 –> 00:57:02.765

on the offensive and,

 

1135

00:57:02.825 –> 00:57:06.165

and moving fast has have kind of dissipated.

 

1136

00:57:06.265 –> 00:57:08.885

And, and that has to be factored in on the production side.

 

1137

00:57:08.885 –> 00:57:12.285

And then on the, you know, on the, uh, you know, on this,

 

1138

00:57:12.465 –> 00:57:15.045

on this question in particular, it’s just

 

1139

00:57:15.545 –> 00:57:20.085

to us there’s just a long way to go both on the individuals,

 

1140

00:57:20.185 –> 00:57:21.245

you know, consumer side

 

1141

00:57:21.245 –> 00:57:24.485

and the corporate side on, on this, uh, behavior change.

 

1142

00:57:24.605 –> 00:57:28.765

I mean, what we’ve found is, you know, demographically, yes,

 

1143

00:57:29.025 –> 00:57:31.885

the younger demographic will buy based on environment,

 

1144

00:57:32.025 –> 00:57:35.005

but still just as we saw as investors, you know,

 

1145

00:57:35.505 –> 00:57:38.325

in the previous decade in areas like all protein,

 

1146

00:57:39.025 –> 00:57:42.165

you’ve gotta hit it on price parity, at least pretty close.

 

1147

00:57:42.185 –> 00:57:45.605

You’ve gotta hit it on performance, on taste, deliciousness,

 

1148

00:57:46.245 –> 00:57:48.285

nutrient density profile, et cetera.

 

1149

00:57:48.645 –> 00:57:50.085

I mean, you’ve gotta drive towards that.

 

1150

00:57:50.345 –> 00:57:53.245

Um, you know, people are not gonna just buy just on the

 

1151

00:57:53.245 –> 00:57:55.445

sustainability profile alone from

 

1152

00:57:55.525 –> 00:57:57.045

what we’ve been able to see.

 

1153

00:58:00.055 –> 00:58:03.385

Yeah, yeah, totally agree with, uh, what you just shared,

 

1154

00:58:03.395 –> 00:58:06.865

Jason, as well as, you know, it’s a nascent market

 

1155

00:58:07.645 –> 00:58:10.985

as you were talking about the sustainable seafood industry.

 

1156

00:58:11.375 –> 00:58:15.385

Currently, the alternative seafood industry only takes up

 

1157

00:58:15.385 –> 00:58:19.825

around 1% of the overall seafood share in the us um, as

 

1158

00:58:19.825 –> 00:58:21.225

of last year, I believe.

 

1159

00:58:21.805 –> 00:58:25.345

So it’s, uh, it’s part of communicating with, um,

 

1160

00:58:26.105 –> 00:58:27.545

existing established companies

 

1161

00:58:27.605 –> 00:58:31.305

or institutions like Q Labs, way others that are already

 

1162

00:58:31.865 –> 00:58:33.625

speaking up about the benefits

 

1163

00:58:33.765 –> 00:58:37.665

and the clear environmental impact of seaweed, um, as well

 

1164

00:58:37.665 –> 00:58:40.865

as any potential to align with emerging regulations

 

1165

00:58:40.925 –> 00:58:42.505

or policies that are coming up.

 

1166

00:58:43.085 –> 00:58:46.625

Um, and then just continuing to speak about the benefits.

 

1167

00:58:46.805 –> 00:58:51.065

You know, I think, um, connecting with the ecosystem, uh,

 

1168

00:58:51.065 –> 00:58:55.265

builders that you all are, are part of, um, is so critical

 

1169

00:58:55.365 –> 00:58:59.065

to ensure that we can make sure, uh,

 

1170

00:59:00.165 –> 00:59:04.135

seaweed continues to be a solution toward these issues

 

1171

00:59:04.135 –> 00:59:06.135

that we’re seeing around plastic pollution

 

1172

00:59:06.275 –> 00:59:10.295

or, um, you know, seaweed alternatives, et cetera.

 

1173

00:59:12.675 –> 00:59:14.045

Yeah, thanks so much. Camila

 

1174

00:59:14.045 –> 00:59:16.725

and SOA does such a great job of really building

 

1175

00:59:16.795 –> 00:59:19.565

that community, um, amongst their entrepreneurs.

 

1176

00:59:19.665 –> 00:59:21.245

And I think that’s so important in,

 

1177

00:59:21.345 –> 00:59:23.685

in creating this movement is that we all need

 

1178

00:59:23.685 –> 00:59:26.885

to be saying the same thing and like share that message over

 

1179

00:59:26.905 –> 00:59:30.125

and over again to consumers so that it really hits home

 

1180

00:59:30.145 –> 00:59:32.645

and people, um, start to become more aware.

 

1181

00:59:33.505 –> 00:59:37.045

Um, we have just about a minute left, Camila, I know

 

1182

00:59:37.045 –> 00:59:38.685

that you typed in, um,

 

1183

00:59:38.985 –> 00:59:41.045

the answer about the Ecopreneur network,

 

1184

00:59:41.185 –> 00:59:44.085

but do you wanna just say really quickly, um, who that’s for

 

1185

00:59:44.185 –> 00:59:45.405

and application criteria

 

1186

00:59:45.465 –> 00:59:47.325

so folks have a sense of who should apply?

 

1187

00:59:49.595 –> 00:59:51.525

Yeah, definitely. Thanks so much, grace.

 

1188

00:59:51.625 –> 00:59:55.005

So, um, as I mentioned in Deadline,

 

1189

00:59:57.145 –> 00:59:58.845

um, so early October

 

1190

00:59:59.065 –> 01:00:01.725

and then, um, the application is open

 

1191

01:00:01.825 –> 01:00:04.445

for any incorporated for-profit company

 

1192

01:00:04.555 –> 01:00:08.365

that has at least a pre sea or seed stage financing round

 

1193

01:00:08.825 –> 01:00:10.765

and aligns with any of our impact areas.

 

1194

01:00:11.185 –> 01:00:13.885

Um, so greenhouse gas reduction, pollution reduction,

 

1195

01:00:14.475 –> 01:00:17.445

ecosystem species preservation, sustainable seafood,

 

1196

01:00:17.745 –> 01:00:22.105

and ocean data and literacy, we hope to see you apply.

 

1197

01:00:23.535 –> 01:00:26.465

Awesome. Okay, well time’s up.

 

1198

01:00:26.685 –> 01:00:30.225

Um, and so that’s it for today. Uh, just a quick request.

 

1199

01:00:30.725 –> 01:00:33.585

We are going to share a feedback survey both live right now,

 

1200

01:00:34.045 –> 01:00:35.305

um, in our follow-up email.

 

1201

01:00:35.325 –> 01:00:36.665

And please, please fill that out.

 

1202

01:00:37.165 –> 01:00:39.745

Um, we also have a, um,

 

1203

01:00:40.125 –> 01:00:43.225

survey about our entire series since we’ve reached the end.

 

1204

01:00:43.845 –> 01:00:45.425

And, um, you’ll have the opportunity

 

1205

01:00:45.485 –> 01:00:47.865

to win products worth up to a hundred dollars.

 

1206

01:00:48.005 –> 01:00:49.545

So definitely keep an eye out for that.

 

1207

01:00:49.965 –> 01:00:52.265

Uh, we really wanna know what you thought of seed to sale,

 

1208

01:00:52.925 –> 01:00:55.545

and, um, even though our live sessions are ending,

 

1209

01:00:55.685 –> 01:00:58.225

we wanna make sure we keep the seaweed hype going.

 

1210

01:00:58.725 –> 01:01:01.225

Um, so definitely stay in the loop with GreenWave

 

1211

01:01:01.225 –> 01:01:04.585

and other folks on this call, um, on, in our hub

 

1212

01:01:04.645 –> 01:01:06.505

and by joining folks’ newsletters.

 

1213

01:01:06.685 –> 01:01:09.865

Um, and we’ll have new programming launching in the fall.

 

1214

01:01:10.005 –> 01:01:11.945

Um, we’ll be kicking off farmer form again.

 

1215

01:01:12.645 –> 01:01:15.945

Um, and I just wanted to say that it’s been such an honor,

 

1216

01:01:16.325 –> 01:01:17.585

um, to host these sessions

 

1217

01:01:17.605 –> 01:01:19.385

and explore, you know, the potential

 

1218

01:01:19.385 –> 01:01:21.905

and the challenges of bringing kelp to market with you all.

 

1219

01:01:22.525 –> 01:01:25.385

And thank you so much again for being here, uh,

 

1220

01:01:25.405 –> 01:01:26.945

for your feedback and for asking

 

1221

01:01:27.165 –> 01:01:28.785

so many insightful questions.

 

1222

01:01:29.365 –> 01:01:32.225

Um, I hope you’re all inspired to join the new Blue economy,

 

1223

01:01:32.725 –> 01:01:35.865

um, and solve bottlenecks in this industry, um,

 

1224

01:01:36.085 –> 01:01:38.545

and work with farmers to bring this regenerative,

 

1225

01:01:38.545 –> 01:01:40.065

untapped resource to the world.

 

1226

01:01:40.445 –> 01:01:41.265

So thank you all.