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Monday, November 25, 2019

Intrepid pays $600k for seaweed. Is this a good investment?




Intrepid Travel’s not-for-profit arm, The Intrepid Foundation, has announced the funding of Australia’s first marine permaculture platform, using seaweed to draw down carbon from the atmosphere.

“This result is the second biggest in our fundraising history, which indicates just how passionate our travellers and the public are about positive solutions to climate change,” Intrepid Travel co-founder Darrell Wade said.

The campaign has exceeded two fundraising targets, raising more than $600,000 since April this year.

The ‘seaweed solution’ will see the trial of Australia’s first marine permaculture platform offshore in Tasmania’s Storm Bay. Seaweed grows incredibly fast and was touted as a solution to the climate crisis in Damon Gameau’s film 2040.

“The remarkable thing about the campaign has been the sheer volume of donors. Thousands have opted to vote with their wallet, even if only with a dollar, and invest in climate action at a time when politicians have failed to,” Wade said.

In a climate action good news story, the first target of $350,000 was exceeded in four months, while the second-round target of $250,000 was raised in just over two months.

The Intrepid Foundation partnered with The Climate Foundation to fund the research through the University of Tasmania. They are currently exploring new projects to fundraise for further climate change solutions.

“One thing is clear: people are not done giving their support for climate action. And neither are we,” Wade said.

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