Black Sea group unveils investment opportunities

An international group which aims to drive regeneration of communities on the coast of the Black Sea has launched a portfolio of investment opportunities, aimed at connecting promising business prospects and budding entrepreneurs with investors.

Ukraine, Bulgaria, Georgia, Moldova, Romania and Turkey are among the countries that will benefit from sustainable economic development sparked by the portfolio, which was unveiled at an event in Bucharest yesterday (15 April).

The DOORS Black Sea Special Interest Group's portfolio of investment opportunities is focused on investment in the blue economy – the sustainable use of ocean, sea, and coastal resources for economic prosperity, improved livelihoods, and jobs while preserving the health of marine ecosystems.

The investment opportunities unveiled in the portfolio include:

• Galera 07 – a Bulgarian shipbuilder developing a unique, solar-powered hydrofoil ferry with the potential to open up new, fast maritime routes between Black Sea coastal cities.

• NDP Mussel Farm – a Romanian company with advanced plans to develop a mussel farm on the Romanian coast south on Constanta, responding to the region’s growing appetite for sustainably-produced seafood.

• Plastic 2 Green – an innovative, plasma-based process to transform plastic waste into zero-carbon products which can help to address the Black Sea’s significant marine litter challenge.

• Reviving Sulina – an opportunity to unlock the hidden histories of a small Black Sea community that has played an outsized role in European economic history by creating an immersive, educational digital experience, led by digital reconstruction specialists CyArk.

The DOORS Black Sea Special Interest Group brings together carefully selected entrepreneurs, researchers, and global statespeople to champion the distinct opportunities in this unique part of the world.

Chaired by University of Stirling Chancellor and former First Minister of Scotland Lord Jack McConnell, membership includes former Bulgarian Foreign Minister Nadezhda Neynsky, former NATO Secretary General Lord George Robertson, and Galina Teleucă, Deputy Mayor of Jurilovca, Romania, a coastal community that has witnessed exemplary investment in blue economy infrastructure.

Prosperity

Special Interest Group Chair Lord McConnell said: “The Black Sea can be a source of enduring prosperity for its coastal communities, reaping the benefits of emerging opportunities. That’s why I am pleased to unveil these prospects for investment across this region, which I hope will catalyse sustainable development opportunities for the 16 million people who inhabit the Black Sea coast.

“Investors can look forward to being part of new ventures and markets at the cutting edge of the blue economy, and to making an important contribution to a distinct part of the world that can benefit hugely from this progress.”

Potential

The launch event was hosted at the residence of the British Ambassador to Romania, in Bucharest, with the support of the British Embassy.

Dr Rebecca Shah, Chargée d’Affaires at the British Embassy, Bucharest, said: “Economic growth and environmental protection must go hand in hand. The UK sees a huge potential for this region to prosper through sustainable economic development, which is why we’re pleased to support the DOORS project and the Black Sea Special Interest Group. This exciting portfolio showcases a number of really interesting projects on and around the Black Sea, and we hope that investors will be keen to get involved.”

Professor Adrian Stănică, Director of Romania’s National Institute for Research and Development on Marine Geology and Geo-ecology (GeoEcoMar) and DOORS Project Coordinator, said: “The Developing Optimal and Open Research Support for the Black Sea (DOORS) project has aimed to transform the Black Sea Strategic Research and Innovation Agenda from concept to reality. This means a gaining better knowledge of the Black Sea and the processes controlling its specific ecosystems but also understanding how we can benefit from its resources in a sustainable way.

“That’s why DOORS has supported moves towards a sustainable blue economy, helping coastal communities to grow in harmony with the sea and bringing together all relevant actors that can support the development of a thriving blue economy throughout the region.”

Improving lives

The DOORS Black Sea Special Interest Group, co-ordinated by the University of Stirling, was launched on October 31, 2024, which was designated International Black Sea Action Day. This year is the 29th anniversary of the signing of the Black Sea Strategic Action Plan, which aims to improve the lives of the 16 million people from six countries who live near the Black Sea’s shores.

The DOORS Black Sea Special Interest Group has been formed as part of Developing Optimal and Open Research Support for the Black Sea (DOORS), a €9 million EU-funded research project coordinated by GeoEcoMar, linking science, policy, and industry for critical Black Sea regeneration. DOORS involves the University of Stirling alongside 34 partners from the Black Sea states and elsewhere in Europe.