Oceanfarmr, Growing farms that change the world

In the world of sustainable aquaculture, one organisation stands out for its ground-breaking approach to fostering environmental and social benefits while revolutionising the lives of oyster farmers. Oceanfarmr, driven by a profound belief in creating thriving farms, communities, and ecosystems, has emerged as a beacon of innovation in the industry.

Oyster farming has long faced a significant challenge – the inability to obtain finance for expanding underwater infrastructure. Oceanfarmr recognised this problem, where many oyster farmers found themselves underbanked, leading to approximately half of oyster leases in New South Wales lying underutilised.

Oceanfarmr's innovative solution is both simple and transformative. They act as asset managers, purchasing both the infrastructure and the crop to be cultivated within it. The farmer, with their expertise and resources, nurtures the crop on their water. At the end of the agreed growth cycle, the crop is sold, and the proceeds cover the cost of the crop, infrastructure, finance, management, and insurance. Most importantly, the infrastructure is transferred to the farmer, allowing them to use it for their future endeavours.

Integral to Oceanfarmr's approach is the Oceanfarmr app. This digital tool empowers farmers to manage their farms with precision, optimise work practices, and streamline compliance reporting. The results are astonishing, with farmers experiencing a 17% boost in productivity, a 50% reduction in on-water time, and an impressive 20% annual farm growth rate.

Oceanfarmr's vision extends far beyond the financial realm. For every hectare of water developed for oyster aquaculture, the benefits are substantial. Fish abundance increases by 1.6 times, the local economy enjoys an economic multiplier of 2.07 times, and crucially, water is filtered while nitrogen and carbon are captured. The estimated environmental and social impact of non-feed infrastructure is an astounding $392,000 per hectare per annum.

Oceanfarmr has set ambitious but attainable goals. Their target market comprises 25,000 shellfish farms globally, with an infrastructure requirement of $9.5 billion pa, translating into a staggering $333 billion of annual environmental and social benefit. While reaching this entire addressable market may be a long-term vision, their shorter-term objectives are just as impactful. Oceanfarmr aims to work with 90 shellfish farms, facilitating $85 million of infrastructure and generating $1.2 billion of environmental and social benefit, with a significant portion of this impact in New South Wales.

Through each hectare of nonfeed aquaculture they establish, Oceanfarmr increases marine biodiversity, enhances microbial nutrient cycling, filters water, and captures nitrogen and carbon.

At the heart of Oceanfarmr's journey are a passionate team dedicated to solving the challenges of Sustainable Development Goal 14 - Life Below Water. They firmly believe that empowering farmers is the key to addressing these issues.

Oceanfarmr's journey began in 2017 with a simple dashboard and app. Since then, they have evolved into a global force, managing 139 million oysters across 85 customers worldwide, building productivity and resilience. They have engaged with five infrastructure customers in Australia, facilitating 13 transactions that have cultivated 2.67 million oysters across 7.6 hectares of previously unused water lease.

Oceanfarmr's groundbreaking approach to sustainable aquaculture not only addresses the financial challenges faced by oyster farmers but also creates lasting environmental and social impact. With a vision firmly rooted in the well-being of communities and ecosystems, Oceanfarmr is a trailblazer in the industry, transforming the way we view and engage with aquaculture for a better, more sustainable future.

Oceanfarmr was awarded the 2023 NSW Sustainability Award for Primary Industries and Regional Development.

Website: oceanfarmr.com/