Venture report: Halcyon Sea Farms
Self-reported by the venture (a fictional example) using the Seaweed Economy Venture Workspace. Not reviewed, verified or certified, and not a recommendation to fund.
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The venture
- What the venture does
- A two-hectare sugar kelp farm planning to sell dried kelp to food and ingredient makers in BC.
- Immediate objective
- Complete a 20-tonne wet harvest in spring 2027 and sign two buyers for dried kelp.
- Type of venture
- Seaweed farm
- Ownership
- Joint venture or partnership with a Nation
- Who makes decisions
- Two founders make day-to-day decisions. A joint steering group with the Nation partner meets every quarter on the site, hiring and how benefits are shared.
- Community or Nation context
- The farm site is in the territory of a coastal First Nation. Partnership talks began in 2026, and the Nation's economic development corporation is the prospective joint venture partner.
- Mandate or consent
- A letter of support from the economic development corporation. No council resolution yet.
- Venture name
- Halcyon Sea Farms
- Product name
- Dried sugar kelp
- Species
- Sugar kelp
- Product form
- Dried
- Region
- British Columbia
- Main sales channel
- B2B ingredient
Readiness
Prototype stage
Critical gates
- Seaweed supply: Partly met. Rated 3 (Pilot-ready). This holds the venture at Pilot market stage at most until it reaches 4.
- Regulation and safety: Partly met. Rated 2 (In progress). This holds the venture at Pilot market stage at most until it reaches 4.
- Economics and finance: Partly met. Rated 2 (In progress). This holds the venture at Pilot market stage at most until it reaches 4.
| Area | Rating | Strongest evidence |
|---|---|---|
| Your venture | 3/5, Pilot-ready | None |
| Product and technical | 3/5, Pilot-ready | 3 Tested |
| Seaweed supply (critical) | 3/5, Pilot-ready | 3 Tested |
| Regulation and safety (critical) | 2/5, In progress | 2 Documented |
| Economics and finance (critical) | 2/5, In progress | 1 Explored |
| Customers and market | 2/5, In progress | 2 Documented |
| Operations and infrastructure | 1/5, Early | None |
| Team and governance | 3/5, Pilot-ready | None |
| Progress and partnerships | 2/5, In progress | None |
| Impact and community | 3/5, Pilot-ready | 2 Documented |
Numbers
Without grants: loss of $12,000 a year. With $15,000 in grants: profit of $3,000 a year. Price needed to cover costs without grants: $33.00 per kg dried.
| Number | Value | How firm | Source |
|---|---|---|---|
| Selling price | $28.00 per kg dried | Assumption | The founders' estimate. The snack brand has not named a price. |
| Volume sold a year | 2,400 kg dried | Assumption | The 2025 test line yield (measured, see Evidence) scaled to two hectares, and assumed all sold. No buyer has agreed to this volume yet. |
| Cost for each unit | $33.00 per kg dried | Assumption | Worked out in the Farm Economics Calculator, all costs included. |
| Yearly costs that stay the same | $0 a year | Assumption | Included in the cost for each unit. |
| Grants and subsidies a year | $15,000 a year | Assumption | A wage subsidy applied for, not confirmed. |
Assumption: the venture's own estimate. Discussed: told by a buyer, supplier or advisor, with nothing in writing. Published figure from elsewhere: a figure published for another operation or region. Own evidence: backed by an entry in the evidence list.
Today and after the investment
Without grants, the investment takes the venture from a loss of $12,000 a year to a profit of $16,800 a year.
| A year | Today | After this investment of $210,000 |
|---|---|---|
| Selling price (per kg dried) | $28.00 | $28.00unchanged |
| Volume sold a year | 2,400 kg dried | 2,400 kg driedunchanged |
| Cost for each unit (per kg dried) | $33.00 | $21.00AssumptionThe shared dryer in place of contract drying. From the supplier quote and the founders' estimate. |
| Yearly costs that stay the same | $0 | $0unchanged |
| Grants and subsidies a year | $15,000 | $0AssumptionThe wage subsidy would have ended. |
| Result without grants | loses $12,000 | earns $16,800 |
| Result with grants | earns $3,000 | earns $16,800 |
The right hand column is the venture's own plan, not a forecast by Seaweed Economy. A plan is an assumption until it happens.
Evidence
Seed string quote from a hatchery (2 Documented; Seaweed supply; Jun 10, 2026)
Shows: Seed string for two hectares at a stated price for the 2026 season.
Does not show: One season only, from a single hatchery.
Test line results, 2025 season (3 Tested; Seaweed supply; May 30, 2026)
Shows: Yield per metre on a 200 metre test line over one season.
Does not show: One season and one line, in a mild year.
Lab results on two dried samples (3 Tested; Product and technical; Jul 20, 2026)
Shows: Moisture and heavy metals measured on two dried samples.
Does not show: Two samples only. No microbial testing yet.
Email from a snack brand (2 Documented; Customers and market; Aug 5, 2026)
Shows: Interest in 500 kg of dried kelp a year if it meets their specifications.
Does not show: No price agreed and no commitment.
Tenure application acknowledged (2 Documented; Regulation and safety; Aug 28, 2026)
Shows: The tenure application is submitted and acknowledged.
Does not show: Not approved yet. The aquaculture licence is still to come.
Farm Economics Calculator results (1 Explored; Economics and finance, Seaweed supply; Sep 15, 2026)
Shows: Product form: Dried; Price per kg ($): 28; Saleable kg per year: 2,400
Does not show: Calculated from your own figures and assumptions. Not tested against real sales, quotes or results.
Regulatory Pathway Navigator results (1 Explored; Regulation and safety; Sep 15, 2026)
Shows: Pathways to investigate: 1; Items to resolve first: 0
Does not show: Calculated from your own figures and assumptions. Not tested against real sales, quotes or results.
1 confidential item left out.
Infrastructure dependencies
- Drying capacity for 20 tonnes wet a season: In discussion, A shared dryer is under discussion with two other farms, 20 tonnes wet a season, $180,000 for a shared unit, could be shared. If unavailable: Harvested kelp spoils within hours, so it could only be sold fresh and locally.
- Cold storage: Provider contacted, Local fish plant, 5 tonnes, $0.40 per kg a month. If unavailable: Fresh sales would need same-day delivery.
- Vessel and dock access: Confirmed, Own vessel; community dock, Enough for two hectares.
Milestones
| Milestone | By | Cost | Status |
|---|---|---|---|
| Secure shared drying capacityDone when: A written agreement to dry 20 tonnes wet in spring 2027. | Feb 28, 2027 | $180,000Equipment or shared-infrastructure finance | In progress |
| Aquaculture licence approvedDone when: Licence issued for the two-hectare site. | Dec 15, 2026 | $2,500Own funds or revenue | In progress |
| Sign two buyers for dried kelpDone when: Two letters of intent with volume and price. | Jan 31, 2027 | $6,000Grant | Not started |
| Microbial testing on dried samplesDone when: Results for three batches. | Nov 30, 2026 | $1,800Planning or research support | Not started |
| Run a test line for a seasonDone when: Yield measured over a full season. | May 30, 2026 | $4,000Own funds or revenue | Done |
Capital
$210,000 for a shared drying unit and the first full season. Timing: Before the spring 2027 harvest.
Shared dryer and installation, $180,000, with two partner farms. Seed, gear and crew for the first full season, $30,000.
| Planning or research support | Plausible now | Conditions in place |
| Grant | Plausible now | Conditions in place |
| Buyer-supported pilot or advance purchase | Possible with work | Customers and market rated 3 or more |
| Equipment or shared-infrastructure finance | Possible with work | Economics and finance rated 3 or more |
| Working capital or debt | Premature | Economics and finance gate met (now partly met); Sales or contracts that can repay it (Progress and partnerships rated 3 or more); Sales or orders documented |
| Community or Indigenous financing | Plausible now | Conditions in place |
| Equity investment | Premature | Seaweed supply gate met (now partly met); Regulation and safety gate met (now partly met); Economics and finance gate met (now partly met); Customers and market rated 4 or more; Progress and partnerships rated 3 or more |
Types of capital, not specific programs. Suitability follows plain rules from the information above; it is not a funding decision.
Tools used
Farm Economics Calculator (Sep 15, 2026); Regulatory Pathway Navigator (Sep 15, 2026).