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Mexico City, March 3, 2026. Aiming to support an innovative circular economy solution that transforms a growing climate and environmental threat into a job-generating industry with high economic and environmental value, the International Finance Corporation (IFC), a member of the World Bank Group, announced the successful closing of an investment in Carbonwave, the first company to transform sargassum into commercially viable agricultural biostimulants and cosmetic emulsifiers. Sargassum, a seaweed that previously grew in an isolated area of the Atlantic Ocean, has begun to proliferate uncontrollably and saturate the coastal ecosystems of the Caribbean. It accumulates on beaches and decomposes, releasing methane into the atmosphere, leaching heavy metals into aquifers, affecting tourism and blocking sea turtle hatchlings access to the ocean. The ongoing costs of sargassum cleanup and removal in the Greater Caribbean have reached alarming levels. The U.S. Environmental Protection Agency (EPA) reported direct harvesting costs of 120 million in 2018 alone. These figures reflect only the expenses associated with collecting and disposing of sargassum and do not capture the broader economic impacts. Since then, the magnitude of the problem has increased significantly. Tourism-related losses, such as trip cancellations and reduced hotel occupancy, are not included in these estimates. When these broader socioeconomic impacts are considered, along with damage to coastal infrastructure, the total economic burden on the region increases significantly, highlighting the magnitude of the crisis, far beyond the challenges of cleanup operations alone. Carbonwave transforms sargassum into high-value materials, harnessing the potential of this abundant seaweed while mitigating climate change and protecting the environment. By monetizing sargassum, the project encourages its responsible collection and transformation, preventing its harmful decomposition and converting waste into value. Geoff Chapin, CEO of Carbonwave, said: At Carbonwave we are demonstrating that climate resilience and economic growth can go hand in hand. Our technology transforms harmful marine growth into products that support regenerative agriculture, through agricultural extracts, and sustainable manufacturing through uses of dried sargassum. Having IFC as an investor and strategic partner validates both our model and our mission. We look forward to collaborating with IFCs global leadership and reach to expand our impact in vulnerable coastal regions around the world. Sanaa Abouzaid, IFC regional director for Mexico and Central America, said: Carbonwave is helping to turn a growing environmental challenge into a new job-generating industry that delivers climate, biodiversity and economic benefits, especially for women and vulnerable communities who depend on healthy coastal ecosystems. By strengthening the resilience of economies dependent on tourism and fishing, the project helps protect jobs in regions where sargassum accumulation has been shown to significantly reduce local economic activity. The project also contributes to biodiversity conservation by reducing the accumulation of sargassum in coastal waters, which can suffocate corals, seagrasses and other forms of marine life. Carbonwave operates processing facilities in Puerto Morelos, Mexico, and in Puerto Rico. Note to editors: The investment consists of a convertible loan for USD 3 million, with a maturity period of four years. IFC is supporting Carbonwaves operations, as well as its research and development activities and commercial scale-up. About Carbonwave Carbonwave is a US and Mexico-based climate technology company that transforms invasive sargassum into high-value agricultural products and biomaterials. By developing local supply chains in the Caribbean and Mexico, Carbonwave contributes to the restoration of coastal ecosystems, the reduction of methane emissions and the creation of economic opportunities in affected communities. Its flagship agricultural biostimulant, SargaPower, improves crop yields and soil health, supporting agricultural practices with statistically significant results, high returns on investment for farmers and, in many cases, using up to half the application rate. Through innovation and strategic partnerships, Carbonwave is transforming an environmental crisis into a scalable, climate-positive solution. For more information, visit www.carbonwave.com. About IFC The Finan CorporationInternational Bank (IFC), an organization that is part of the World Bank Group, is the leading international development institution dedicated to the private sector in emerging markets. It works in more than 100 countries and uses its capital, expertise and influence to create markets and opportunities in developing countries. In fiscal 2025, IFC committed a record 71.7 billion to private companies and financial institutions in developing countries, mobilizing private sector solutions and capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org (i).
