Ogoori secures NOK 9 million from Agenda Vestlandet
Updated: 6 days ago
Bergen – Ogoori secures NOK 9 million soft funding from Agenda Vestlandet for the coming three years. The funding will be used to scale the Ogoori business and to launch Ogoori’s marine plastic onto the market.
“Scientist has warned that marine plastic pollution will cost the world up to $2.5tn a year. We need to put value onto marine plastic in order to solve the problem. That is exactly why Agenda Vestlandet is supporting Ogoori’s effort to create a circular business model for marine plastic,” says Siren Sundland, Chairperson of Agenda Vestlandet, and Executive Vice President in Sparebanken Vest. Agenda Vestlandet is a foundation created by Sparebanken Vest to accelerate the green shift in the Vestlandet region of Norway.
The Norwegian ocean plastic startup, Ogoori was founded in Bergen in 2019, just before the pandemic. Ogoori aims to tackle ocean plastic pollution through supplying traceable marine plastic materials, and locking them into innovative green products in a closed-loop system. So, the marine plastic once collected in nature won’t become astray again at the end of the life cycle of the products. The ownerless marine plastic waste is sourced by beach cleanup organisations. By upcycling the marine waste, Ogoori avoids incineration and landfill of plastic waste.
“Agenda Vestland's support is vital for Ogoori to operate its innovative circular model and build a progressive revenue through ocean plastic raw material rental. We are proud to see Agenda Vestlandet creating an impact in Norway's green shift. The business sector has a vital role to play towards the Norwegian green growth, and Ogoori is happy to contribute to it and to compliment Sparebank Vest's goals,” says Larissa Costa Slottet, Ogoori’s CEO
Ogoori’s regenerative and circular business model fits right into Agenda Vestlandet Foundation’s mission. The foundation was created by the Norwegian bank, Sparebanken Vest, to accelerate sustainability and green growth projects particularly in western Norway. Sparebanken Vest earmarked NOK 300 million for investments in sustainability and green growth projects through Agenda Vestlandet Foundation to help Norwegian companies to compete in the international market.
Photo: A beach cleanup action in September 2020. Runa Andersen, ITSB; Siren Sundland, Chairperson of Agenda Vestlandet, Sparebank Vest; and Larissa Slottet, CEO of Ogoori. (From Left to Right)
Ogoori is already paving a path for a sustainable plastic value chain network, encompassing researchers, designers, plastic producers, conscious brands, industrial partners, and more. This network will disrupt the supply and demand of virgin plastic, by offering collective stories to showcase the efforts in cleaning up the ocean. Moreover, products created with Ogoori’s material will nudge companies towards the green shift and tackle one of the major global problems: plastic pollution.
Ogoori sponsors ocean cleaner organisations and secures the possession of marine plastic. In collaboration with industry partners, we turn marine waste into plastic granulate. Ogoori’s marine plastic granulate comes with a digital DNA to present a proof of sourcing and to ensure traceability. The more products made of Ogoori marine plastic, the greater the impact on the environment.
Western Norway is unique with their maritime expertise and technology advantages; and furthermore, it is in the area where the famous Cuvier's beaked whale was found stranded off on the island of Sotra, western Norway four years ago. It had over 40 plastic items in its stomach. The death of the whale became a symbol of the plastic crisis. It is estimated that an overwhelming 8 million tonnes of plastic still end up in the world’s ocean every year.
Conscious Businesses Accelerating Green Growth
Photo: Vestre's Coast bench made of Ogoori marine plastic.
Ogoori is on the mission to influence as many businesses to become more circular and regenerating the planet through their business. Norway’s recent poor performance on circularity rate is at 2.4%, below the global average at 8.6%. The finding is from the Circularity Report Norway 2020 published by The Circularity Gap Reporting Initiative, an initiative by Circle Economy.
Norway has a long way to go to reach a circular society. However, conscious businesses are taking the initiative to accelerate green growth. Vestre has just launched the world’s first bench, Coast, made from Ogoori ownerless marine plastic collected by our beach cleanup partners.
“Green growth is possible and we aim to prove that through companies like Ogoori showing the way forward. By closing the loop and maintaining control over the materials we have a viable route towards decoupling resource intensity from economic growth,” says Jan Christian Vestre, CEO of Vestre and co-founder of Ogoori.
Western Norway Leads the Fight Against Plastic Pollution
Ogoori is an active member of NOSCA Clean Shores - a cluster-program in the west of Norway, who has the purpose of using over 45 years of oil spill knowledge in the war against plastic in the oceans. Ogoori is part of their plastic working group to keep learning more about microplastics and the damaging effect it has on the environment.
Furthermore, NOSCA Clean Ocean is taking the initiative, together with Ogoori and On Line Reklame to design and produce circular products with Ogoori marine plastic. This is a great step forward for showcasing how industry key players can be innovative and adopt the circular business model.
“The core business of NOSCA Clean Ocean is detection, classification, clean-up and disposal of marine waste – including ocean plastic. Ideally, the waste should become a resource. When it comes to plastic, Ogoori does a tremendous job that enables us to accomplish this – to introduce new products based on ocean plastic in a circular business model,” says Eirik Langeland, Managing Director at NOSCA Clean Oceans Innovation Cluster.
Ogoori is a Norwegian ocean impact startup company founded by the Norwegian value-driven furniture brands Vestre and Ope, and Rune Gaasø. Ogoori capture stories of marine litter and deliver them as a service that creates value to the end user. Ogoori’s main functions are receiving the ownerless marine waste from beach cleaner partners, managing research and development, and the industrial process of turning it into plastic granulate. This will be offered to the market in a subscription model named Material as a Service (MaaS), through what we call a Regenerative Circular Value Chain. Ogoori will offer traceable plastic raw materials collected from the ocean with a guarantee of origin through blockchain technology. The furniture brands, Vestre and Ope, are also founding customers of Ogoori, launching products using marine plastic.
Read more about Agenda Vestlandet here: https://www.agendavestlandet.no/
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Larissa Slottet, CEO.