New investment from BlueCrow Capital will carry Aquaculture Startup closer to first sales
Lisbon, April 8, 2020. Oceano Fresco S.A., a global pioneer in bivalve aquaculture, has announced today the closing of a €3.8 million investment from BlueCrow Capital, a BioEconomy-focused venture capital fund. Total funds received by the firm now add to well above €11 million, including €3.5 million in competitive grants.
Proceeds from this latest round will be used to begin mass-scale production of clam seed at the company’s state-of-the-art BioMarine Center in Nazaré, expected to be ready to operate within weeks (picture above). At cruise speed, this facility will produce 200 million clam seeds per year.
Funds will also be used to continue Oceano Fresco’s R&D program and the setup of a 103-hectare grow-out farm, 5.5 km off the coast of Lagos in the Algarve, south of Portugal (picture below).
Bernardo Ferreira de Carvalho, founder and CEO of Oceano Fresco, noted: “This provides us with the financial resources to continue to execute our business plan towards the goal of achieving first sales by the end of 2021. It is a sign of confidence in our vision, team and assets that is of special importance during the current challenging times”. BlueCrow Capital’s partner Bernardo Empis Meira added: "Oceano Fresco offers a solid value proposition that will thrive, given that it serves a human basic need – the need for food – through a product that provides the trilogy of health, convenience and pleasure".
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. The Company employs a growing team of experts in fields ranging from shellfish genetics and aquaculture to commercial plant and animal breeding. Besides BlueCrow, the Company’s shareholders and board members include Olivier Cottet, a senior scientist and executive at Syngenta, Björn Skjaevestad, a prominent aquaculture entrepreneur, Nuno Arantes-Oliveira (Chairman), also an entrepreneur and investor, and several angel investors. Oceano Fresco’s 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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