A tech start-up headed by Batemans Bay oyster farmer Ewan McAsh has launched an "alternative" to farm finance, Farm to Buy.
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Oceanfarmr, formerly known as Smart Oysters, launched Farm to Buy earlier this year, and alternative to farming finance that allows aquafarms easy access to capital for water-based farmland.
With access to capital being the greatest barrier to growth for ocean farmers, Farm to Buy, enables farmers to expand their production by utilising unused resources to grow their farm.
Oceanfarmr will provide farming resources, under the agreement that when the crop is sold the proceeds will be used to pay out the finance and the farmer will own the new farming system outright.
While agricultural farms (land based) often have the option of land as an asset to secure financing, aquaculture farmers have traditionally found it more difficult to access capital as water based farmland is not privately owned.
Not only does this alternative allow farmers to expand their production, it also eliminates the fear of debt from traditional financing options.
"In addition to the economic growth, improved livelihoods, and job creation surrounding the aquaculture industry, the sustainability outputs are endless," Mr McAsh said.
"For every US$10 million that is invested in sustainable aquaculture through Oceanfarmr farm finance, the benefits for the environment include the capture of an estimated 39 tonnes of nitrogen, 298 tonnes of carbon and 1,239 gigalitres of water filtered. That's around 495,000 Olympic pools."
The Oceanfarmr team has captured hundreds of data points across crops, asset and activities, and worked closely with farmer to provide business insights and food production infrastructure through the Oceanfarmer app.
Oceanfarmr has already takes its first Farm to Buy orders, with a $168,000 agreement signed and a pipeline of $38m across Australia, New Zealand, North America and the United Kingdom.
The launch of Farm to Bay coincides with a crowdfunding campaign which invites local investment into the 'blue economy'.
The funding from the campaign will be used to accelerate and expand the Farm to Buy program, allowing more farmers to access much needed resources to grow their farms sustainably.
More information about the Farm to Buy program is available on the Oceanfarmr website, and the crowdfunding campaign can be accessed here.
