Ruhnu is a small yet unique island with a rich culture, history, and natural environment that create an exceptional living space. Planet Ruhnu aims to establish Estonia’s first seaweed farm and begin producing various products based on seaweed valorization. Additionally, Planet Ruhnu offers visitors various nature activities and local culinary experiences, showcasing the diverse uses of seaweed in food and natural cosmetics.
The Potential of Seaweed and Its Applications
Seaweed plays a vital role in marine ecosystems and holds great economic and environmental potential. It is rich in vitamins, minerals, antioxidants, and omega fatty acids, making it highly valuable for the food industry, pharmaceuticals, and cosmetics.
The seaweed growing in the Gulf of Riga is particularly rich in iodine and other trace elements, which supports metabolism and immune function. Moreover, seaweed cultivation is an environmentally friendly activity, requiring no fertilizers or pesticides and potentially improving water quality by absorbing carbon dioxide and excess nutrients.
Financial Analysis and Funding Opportunities
Establishing a seaweed farm is a capital-intensive investment, and the Planet Ruhnu team turned to Haap Consulting for financial forecasting and funding strategy analysis. This was done through the BlueBioClusters project, which unites 13 support organizations across Europe to promote blue bioeconomy innovation and support startups.
Haap Consulting helped Planet Ruhnu achieve the following goals:
- Develop financial forecasts, including different funding scenarios to determine the minimum production volumes required and the associated financing gap.
- Identify potential funding opportunities that Planet Ruhnu could leverage for its development, including EU grants, private and venture capital, and possible partnerships with research institutions.
The Future of Planet Ruhnu and Its Products
This project was an exciting opportunity for our team, and we encourage everyone to visit Ruhnu in the summer and explore Planet Ruhnu’s initiatives. You can also support them by purchasing products from their online store: SHOP – Planet Ruhnu, where new seaweed-based products are constantly being added.
We wish the Planet Ruhnu team success and look forward to seeing new and exciting products made from the seaweed growing in the Gulf of Riga!
