Food giant Nestlé has announced an investment in Ocean 14 Capital’s Fund I, as part of its efforts to help advance the sustainability journey of Purina PetCare.
Ocean 14 Capital’s Fund I seeks to drive a sustainable and regenerative ‘blue economy’ – a sector that uses ocean resources for economic growth and preservation, Nestlé added.
The project will see the company exploring low-carbon ingredients, such as alternative proteins for pet food, ensuring sustainable sourcing within its value chain, and protecting the ocean ecosystem from which Purina sources fish by-products.
Dan Smith, head of Nestlé Purina’s Global Business Unit, stated, “Together, we aim to drive innovation and create positive change by preserving and harnessing the power of the ocean’s resources to ensure a more sustainable future. We recognise the potential within the blue economy and are dedicated to seizing the opportunities it presents.”
Ocean 14 Capital
Ocean 14 Capital’s Fund I has invested in entrepreneurs and businesses offering ideas in aquaculture, alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.
The fund is guided by UN Sustainable Development Goal 14: Life Below Water, which focuses on preserving aquatic life.
Chris Gorell Barnes, co-founder of Ocean 14 Capital, added, “We are thrilled to have Nestlé on board as our partner in driving the transformation of the blue economy. Oceans are the critical life-support system for life on Earth. If it’s not functioning, it will be game-over for humanity.
“Nestlé’s investment in the Ocean 14 Capital Fund I showcases their support to make the blue economy sustainable and regenerative, to protect and restore the oceans’ health, and make sure this vital economy can prosper.”
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The latest investment follows the recent launch of Purina Europe’s first Ocean Restoration Programme, to help tackle marine biodiversity loss in Europe.
Moreover, Purina has pledged to work towards its goal of ensuring that 100% of its seafood ingredients are responsibly sourced or organic.
In 2023, the pet food giant became a founding sponsor of the Bycatch Solutions Hub by the Sustainable Fisheries Partnership.
Purina is also supporting a consortium study to explore the role of seaweed-based biostimulants in regenerative agriculture, Nestlé noted.
