A community-owned sea-farming business in Pembrokeshire has secured a £1.3m loan as it looks to expand its commercial operations and create more jobs along the Welsh coast.
Câr-y-Môr has agreed a ten-year financing arrangement with rural insurer NFU Mutual. The funding will refinance debt accumulated while establishing the business and provide additional capital to support its next stage of development.
The company, which operates near St Davids, has a year-round team of 20 working partners and works with fishermen, gatherers and farmers across the region. It supplies seafood, shellfish and seaweed products to more than 100 restaurants and retailers around the UK.
Four workers have already joined the business with the support of the financing, and Câr-y-Môr plans to recruit another four by summer 2027. The company has also increased hourly pay for its workers by 15%.
From community investment to commercial growth
Câr-y-Môr was founded in 2019 as a community benefit society, with more than 800 members owning the business equally. Its name translates from Welsh as ‘for the love of the sea’.
The venture developed Wales's first regenerative sea farm with backing from local supporters, using community shares alongside private and public borrowing to establish its operations.
Building a new aquaculture business has involved substantial costs, including licensing, regulatory requirements and infrastructure. The new loan gives Câr-y-Môr a longer-term financing arrangement as it works to establish a commercially viable business.
Managing director Owen Haines said the support would allow the company to focus on the commercial viability of its seafood and farming operations while returning value to the people who helped establish it.
The business also runs programmes introducing young people to the connections between the sea, soil and local communities.
Seaweed's potential beyond the kitchen
Seaweed is one part of Câr-y-Môr's operation, alongside seafood and shellfish. The company also works with local farmers on agricultural applications for seaweed, creating opportunities beyond food sold directly to consumers.
Its mix of activities connects marine production with other parts of the Welsh food economy, including farming, hospitality and retail. The business's commercial development will depend on maintaining those relationships while building demand for its products.
NFU Mutual says its support reflects a commitment to rural communities and businesses. For Câr-y-Môr, the priority is turning the investment and community backing that established the sea farm into a sustainable operation capable of supporting employment and further development.
The planned recruitment will add to the company's current team of 20 working partners, extending the economic contribution of a business built around the resources and communities of the Pembrokeshire coast.
