GreenWave’s Kelp Climate Fund is a subsidy for ocean farmers to support a bundle of climate impacts, including carbon, nitrogen, and reef restoration. In return, farmers provide key monitoring data on outplanting, growth rates, and harvest. GreenWave aggregates this data to track acres planted, carbon and nitrogen removed, and harvest volumes throughout North America.

For the 2021-22 farming season, the KCF pilot included 9 farms around the country and paid farmers more than $75,000. For the 2022-23 farming season, the fund increased to $350,000, supporting more than 40 farms. All farmers growing over 1000’ of seed are eligible to apply and are eligible for payments up to $25,000. Farmers are accepted on a first-come, first-serve basis until the fund is spent down. We anticipate growing this fund each year.