Ferd, a Norwegian family-owned investment company, has announced its investment in General Oceans, a leading ocean technology group that provides solutions for offshore energy, aquaculture, and marine research. The investment is part of Ferd’s strategy to support the development of the blue economy, which refers to the sustainable use of ocean resources for economic growth and environmental protection.
General Oceans: A Pioneer in Ocean Technology
General Oceans was founded in 2019 by a group of experienced ocean engineers and entrepreneurs who saw the potential of applying advanced technology to the ocean sector. The group consists of four companies: Ocean Insight, Ocean Power, Ocean Harvest, and Ocean Explore. Each company focuses on a different aspect of ocean technology, such as data analytics, renewable energy, sustainable seafood, and exploration services.
General Oceans has developed a range of innovative products and solutions, such as:
- Ocean Insight: a cloud-based platform that collects, analyzes, and visualizes ocean data from various sources, such as satellites, buoys, drones, and sensors. Ocean Insight helps clients optimize their operations, reduce risks, and improve decision-making.
- Ocean Power: a wave energy converter that harnesses the power of ocean waves to generate clean and reliable electricity. Ocean Power can be deployed in remote locations, such as islands, coastal communities, and offshore platforms, where grid connection is not feasible or cost-effective.
- Ocean Harvest: a smart aquaculture system that uses artificial intelligence, robotics, and biotechnology to produce high-quality and nutritious seafood with minimal environmental impact. Ocean Harvest can monitor and control the water quality, feed, health, and growth of the fish, as well as prevent diseases and parasites.
- Ocean Explore: a subsea service provider that offers underwater inspection, maintenance, and repair services for offshore structures, pipelines, and cables. Ocean Explore uses autonomous and remotely operated vehicles, equipped with cameras, sensors, and tools, to perform various tasks in challenging and harsh environments.
Ferd: A Partner for Growth and Impact
Ferd is one of the largest and most diversified investment companies in Norway, with a history dating back to 1778. Ferd invests in companies that have strong growth potential, positive social and environmental impact, and long-term value creation. Ferd has a portfolio of companies across various sectors, such as industry, finance, real estate, technology, and social entrepreneurship.
Ferd has decided to invest in General Oceans because of its vision, innovation, and leadership in the ocean technology sector. Ferd believes that General Oceans has the potential to become a global leader in providing solutions for the blue economy, which is expected to grow significantly in the coming years. Ferd also shares General Oceans’ commitment to sustainability and responsibility, as both companies aim to contribute to the United Nations’ Sustainable Development Goals, especially Goal 14: Life Below Water.
Ferd will provide General Oceans with financial and strategic support, as well as access to its extensive network of partners and experts. Ferd will also help General Oceans scale up its operations, expand its markets, and develop new products and solutions. Ferd and General Oceans will work together to create value for their stakeholders, customers, and society at large.
The Future of the Blue Economy
The blue economy is a concept that recognizes the importance of the ocean for human well-being and prosperity. The ocean covers more than 70% of the earth’s surface and provides a range of benefits, such as food, energy, transportation, recreation, and biodiversity. The ocean also plays a vital role in regulating the climate, absorbing carbon dioxide, and producing oxygen.
However, the ocean is facing multiple threats, such as overfishing, pollution, climate change, and acidification. These threats pose serious risks to the health and productivity of the ocean, as well as to the livelihoods and security of millions of people who depend on it. Therefore, there is an urgent need to protect and restore the ocean, as well as to use its resources in a sustainable and responsible manner.
The blue economy offers a way to achieve this goal, by promoting the development of ocean-based industries that are environmentally friendly, socially inclusive, and economically viable. The blue economy also encourages innovation and collaboration among various stakeholders, such as governments, businesses, civil society, and academia, to find solutions for the ocean’s challenges and opportunities.
According to the World Bank, the blue economy could generate more than $2.5 trillion in annual gross value added by 2030, up from $1.5 trillion in 2010. Some of the sectors that are expected to drive the growth of the blue economy include offshore renewable energy, sustainable aquaculture, marine biotechnology, coastal tourism, and ocean data and services.
Ferd’s investment in General Oceans is a testament to the potential and importance of the blue economy, as well as to the role of private sector in supporting its development. Ferd and General Oceans hope that their partnership will inspire and enable more people and organizations to join the movement for a better and bluer future.
