Ocean Rainforest reports loss of 19.6 million Danish kroner in 2023

The Faroese seaweed farming company Ocean Rainforest reported a loss of 19.6 million Danish kroner last year. Despite this financial setback, CEO Ólavur Gregersen remains optimistic about the future profitability of the business.

Gregersen stated that the company is still in a development phase, which is why they expect to continue experiencing deficits in their finances for another two years. Founded in 2007, Ocean Rainforest has accumulated a total loss of 43 million kroner over the past 16 years.

Stay tuned for updates on Ocean Rainforest’s progress as it continues to navigate challenges in the seaweed industry.