Place-based nature finance case study: Offshore Shellfish

Offshore Shellfish Ltd1 is a family-run company running an offshore, rope cultured mussel farm for the native blue mussel, Mytilus edulis. Once complete, the farm will be largest of its kind in European waters, with capacity to grow more than 10,000 tonnes of mussels per year. The farm is situated in open water, between 3 and 6 miles out to sea in Lyme Bay, Devon. It is well-placed to take advantage of the ideal growing conditions present in the English Channel.

Custom-made ropes, suspended from longlines in continuous loops, collect naturally occurring wild mussel larvae, which settle as microscopic ‘spat’ during late spring. After the spat has grown for a few months, it is stripped from the ropes, washed, graded and seeded onto new ropes at the ideal density using a wrapping of biodegradable cotton. The reseeded ropes are hung back in the water, where the mussels are left to grow to market size.

Mussel farming requires no inputs of feed, chemicals or medications. Offshore Shellfish Ltd is committed improving the marine habitat, becoming the first mussel farm in Europe to attain Best Aquaculture Practise (BAP) certification from the Global Seafood Alliance. It is also certified by the ASC (Aquaculture Stewardship Council) and as an organic aquaculture farm by the Soil Association.

Working with the University of Plymouth, Offshore Shellfish has evidenced an increase in biodiversity, productivity and species richness within the farm. Offshore farms can contribute to improving the quality and clarity of our waters once again. Mussels can also permanently lock up large amounts of carbon, as their shells are formed of calcium carbonate.

For more information, visit offshoreshellfish.com

Revenue Model

Loan or Finance Structure

Public/Grant Funding

Legal arrangements

Sales of mussels to customers across the UK and the European Union.

Equity investment.

European Maritime and Fisheries Fund funding for one stage of development.

Seabed lease from the Crown Estate and hold a Marine Management Organisation licence for the build. Registered as an aquaculture business with the Fish Health Inspectorate. Sites classified as a shellfish harvesting area with the Food Standards Agency. Location of sites registered with the hydrographic office and included on Admiralty charts.

Parties involved

Accreditation through the ASC (Aquaculture Stewardship Council), Global Seafood Alliance Best Aquaculture Practices, and the Soil Association. Collaboration with Plymouth University to monitor the impact of the farm on the marine ecosystem and sponsorship of studentships.

Environmental improvement

Creation of new habitats, food and nursery areas for fishes and invertebrates.

Carbon sequestration (atmospheric and oceanic carbon is drawn in to build shells).

Improved water quality

Economic and social impact

Provision of a sustainably farmed and nutritious food source. Creation of 20 skilled jobs in an economically depressed coastal area. All sea-going crew undergo extensive mandatory training to ensure the safe operation of vessels and equipment and the delivery of a quality food product.

Barriers encountered and how these were overcome

As pioneers in offshore farming, the company worked with government and agencies to develop the necessary governance structures and legal entities to enable the development to take place. The biggest barrier to development has been Brexit due to its impact on the company’s ability to export elsewhere in Europe. Solutions to this barrier are still being sought.