Completion of series A round brings total investment in the company to over €7.5 million
Lisbon, November 11, 2019. Oceano Fresco S.A., the pioneer bivalve aquaculture company, has announced today the conclusion of an investment round of €2.7 million led by BlueCrow Capital, a BioEconomy-focused venture capital fund. Proceeds will be used largely to complete the construction and begin operating the company’s state-of-the-art BioMarine Center (hatchery, labs and offices) in Nazaré, on the Atlantic coast of central Portugal (pictured below).
With this latest closing, total investment in Oceano Fresco has now surpassed €7.5 million, including €3.5 million from competitive grants and over €1.5 million from the founders, BlueCrow Capital and an international group of seed investors.
Bernardo Ferreira de Carvalho, founder and CEO of Oceano Fresco, noted: “this is another important step towards our goal of establishing a fully integrated, systematic, scalable and science-based aquaculture operation for the production of superior bivalve species”. BlueCrow Capital’s partner Bernardo Empis Meira added: "this team is well positioned to soon deliver a quite relevant sustainable food solution".
Oceano Fresco uses cutting-edge tools and a science-based approach to breed and commercialize premium species of bivalves, starting with varieties of clam native to Europe. Besides the Hatchery & BioMarine Center, Oceano Fresco has acquired open-sea concessions for off-shore farming and employs experts in fields ranging from shellfish genetics to commercial plant and animal breeding. Its integrated business model allows the company to control several key steps in the value chain of clam production, with the final aim of becoming the world leader in the sustainable production of high-value bivalve species.
For more information about Oceano Fresco: www.oceano-fresco.pt
For more information about BlueCrow Capital: www.bluecrowcapital.com
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