Aquaculture startup Oceano Fresco awarded €300k grant - 21/08/2017

Lisbon, August 21, 2017. Shellfish aquaculture startup Oceano Fresco announced today the award of EUR 304k to its SEMEAR project. The funds will to be used to advance the Company’s ground-breaking R&D efforts in the improvement of high-value bivalve species for subsequent worldwide commercialisation. Oceano Fresco founder and CEO Bernardo Carvalho said, “this is a key step in the journey to fulfil the company’s vision of becoming a major global player in shellfish breeding and farming”.

The grant has been awarded by the Portuguese Government’s ID&T Programme under PT2020, the country’s incentive program to boost sustainable economic growth using national and European funds.

Aided by this grant, Oceano Fresco shall work to expand and optimize the production of a highly sought-after species of clam. Much of the work is expected to be carried out in the Company’s future BioMarine center in Nazaré, on the Portuguese Atlantic coast northwest of Lisbon. Clams and other bivalve species are widely regarded as a clean, healthy and economically attractive alternative to many current land crops and aquaculture products. Because relatively little investment has been made so far in understanding and domesticating bivalves, they are also seen as a potentially very large opportunity for innovation and entrepreneurial ventures.

About Oceano Fresco

Headquartered in Mira, on the coast of central Portugal, Oceano Fresco applies both traditional and innovative scientific methods to the production and systematic improvement of high-value bivalve varieties, starting with a well-known species of clam that the Company expects to re-introduce in the market at a competitive price. Oceano Fresco has assembled a world-class team of international advisors, managers, scientists and technicians, and aims to become a game-changer in the €20 billion shellfish market, contributing to higher levels of sustainability in global food production.

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