This EDA amended investment supports the natural energy lab of hawaii with building on the success of the pilot hatch aquaculture accelerator program and developing a medium to long-term program to…

The Economic Development Administration awarded the Natural Energy Laboratory of Hawaii Authority a $820,000 project grant on April 17, 2023 under the Economic Adjustment Assistance program (CFDA 11.307). The grant supports the expansion of the organization's Aquaculture Accelerator program to further incubate aquaculture startups and host workshops focused on business ideation and development in Hawaii County. Funding will also aid recovery efforts from a lava eruption and pandemic impacts. Through technical expertise and resources provided under the grant, the awardee will foster new aquaculture enterprises to drive economic diversification and job growth in the aquaculture sector. The project aims to attract private investment and advance regional economic resiliency, consistent with goals of the EDA's Economic Adjustment Assistance program to support economic development in areas facing challenges.

This EDA amended investment supports the natural energy lab of hawaii with building on the success of the pilot hatch aquaculture accelerator program and developing a medium to long-term program to incubate additional aquaculture startups as well as host ideation and company building workshops in hawaii county, hawaii. The project will assist with recovery efforts from the puna east rift zone lava eruption, which destroyed four acres of nelha property and the subsequent effect of the covid 19 pandemic. Once completed, the project will drive economic diversification, provide growth and jobs in the aquaculture sector, attract private investment, and advance economic resiliency throughout the region.