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Team #10 // FARMSAT

Executive Summary

Seaweed is the product of the future. It has the potential to address hunger, climate change, and water pollution simultaneously. We are leveraging the power of satellite data to support the development of seaweed farming. Our idea is to convert satellite data relevant for monitoring seaweed farms into actionable insights. We will create a model to convert the satellite data into growth projections for different types of seaweed. Historical data will be used to assess appropriate locations fit for seaweed plantation. Current plantations will be monitored using satellite data and Copernicus predictions will be used to predict future revenues and potential risks. This will help farmers to have peace of mind by avoiding emergency situations caused due to variation in environmental conditions.

Problem

We are addressing the risk and difficulty of establishing and maintaining productive seaweed farms. Seaweed being a delicate crop requires careful consideration of location. The location should be able to provide suitable conditions throughout the year for many years. Production of existing seaweed farms fluctuates with changes in temperature, salinity, currents, etc. Therefore, environmental factors play a significant role in the yield of the farms.

Target user / Customer

Existing and future seaweed farmers and investors
Governments and local authorities monitoring environment
Research Institutes, insurance companies

Your solution and how the concept is feasible

Historical data and future predictions provided by Copernicus will be used to locate suitable locations for different varieties of seaweed plantations. Visualizations can be used by potential investors for making the decision about appropriate locations for investment. Existing seaweed farms will be continuously monitored and advised regarding seeding, harvest, and maintenance considering the relevant environmental parameters. The data e.g. salinity, temperature, sunlight, and rainfall will be used to predict current and future production and revenues of farms. Farms will be alerted in the case of upcoming anomalies in weather conditions to minimize the impact. Farmers will also be notified if the upcoming boom season is detected to take advantage of weather conditions. The environmental impact of seaweed plantations, important for sustainable farming, will be monitored using the satellite data.

We have already performed a feasibility analysis of planting one type of seaweed around the coast of Denmark using Copernicus data. A limited number of parameters were used for the proof of concept.

Four unique value propositions

Site selection using historical data and future predictions for long term profitability
Updates regarding potential environmental risks and boom seasons to increase production
Continuous support for efficient seeding, harvest, and maintenance
Peace of mind for the sustainable and profitable operation of the farm

Financials

As per the world bank report, seaweed productions are set to grow from 3 million tons today to 500 million tons in 2050. Which means 125 billion dollars worth of seaweed will be produced yearly. Therefore we believe there is a huge potential for entering this field. Specifically, our services are aimed at three potential groups:

Seaweed farm investors can do risk assessment using historical data and future predictions before money has been put on the table.
For the farmers themselves, the reason for purchasing our services is to increase the efficiency of their farm by being alerted about seasonal variation in seaweed yield. That includes upcoming risk warnings as well as boom periods.
Government and local authorities can avail the services to improve water quality by planting the appropriate seaweed variety. And monitor the environmental impact due to seaweed farms.

Impact

By leveraging the data, we are helping seaweed farms become stable, sustainable and profitable. We are in dire need of such farms as we have run out of land area fit for agriculture. The UN estimates that we need 70% more food by 2050 to feed everyone. We are simultaneously helping to alleviate hunger, global warming, and water pollution. As seaweeds absorb CO2, nitrogen, phosphorous and purify water (hypoxia) while providing food. Seaweeds are also being used for producing biofuels. Therefore, our solution would help the sustainable development goals of ‘Zero Hunger,’ ‘Climate Action,’ ‘Sustainable Communities’ and ‘Industry, Innovation, and Infrastructure.’

Team

We are a team of four highly motivated members, determined to find sustainable solutions for climate change. Martin specialized in business development will be our team manager and business developer. Olena, who is a mechanical engineer will work on technical solutions. Daniel, a physicist, will deal with mathematical modeling and satellite data. And Bhushan, who has a Ph.D. in marine technology, will oversee research and collaborations to gain insights into seaweed farming.