Two innovators join Aqua-Spark stable
AQUACULTURE fund Aqua-Spark has announced two new investments, taking its portfolio to 16 companies.
The latest enterprises to attract backing from the Dutch based group are BioFishency, an Israeli innovator in water treatment systems for use in land based aquaculture, and Molofeed, a Norwegian company with a feed formula that replaces live feed early in the larval rearing cycle.
Aqua-Spark, which focuses on sustainable aquaculture projects, is a primary investor in BioFishency’s latest round of funding, which raised $2.4 million in total.
BioFishency will use the additional funds to support its innovative R&D strategy and expansion in China.
Aqua-Spark’s investment in Molofeed will be put towards marketing and increasing production capacity.
Mike Velings and Amy Novogratz, co-founders of Aqua-Spark, said: ‘These two companies exemplify what we set out to do with Aqua-Spark.
‘While in different parts of the value chain, through advanced technology and innovative thinking, they’re each moving the needle for a more sustainable future for aquaculture.
‘As the industry continues to grow, we need to support the practices and technologies that are improving how we grow fish so that aquaculture can reach its potential as the healthiest, most resource efficient animal protein.’
BioFishency said its systems have already increased farmers’ productivity, including a 95 per cent reduction in water use for intensive tanks, a two to fivefold increase in yields for large ponds, and a doubling of nitrification.
The systems are currently operating in Israel, Congo, Bangladesh, India, Indonesia, and China, and there is interest in the units in Nigeria and Vietnam (for the shrimp market).
With more than $1.3 million in sales for 2018, BioFishency has more than doubled its total 2017 revenues.
Igal Magen, co-CEO and co-founder, said: ‘BioFishency is extremely pleased and honoured to join Aqua-Spark’s portfolio of investments.
‘As a leader in the aquaculture investment ecosystem, Aqua-Spark’s mission is one we identify with, and we hope to do our part to contribute to an industry that is more sustainable and accessible to fish farmers worldwide.’
Molofeed, meanwhile, has developed larval feed for marine finfish and shrimp based on proprietary micro-encapsulation technology.
This makes it possible to include pre-digested and other water soluble components in a capsule, and slow release nutrients after feeding.
The technology has several additional potential applications, including acting as a delivery system for bioactive peptides, immunostimulants, and probiotics.
Because of their size and digestive capabilities, young fish require highly specific feeds -commonly sourced from live prey, such as artemia and rotifers, which are costly, carry disease-risk, and have a significant environmental footprint.
Molofeed is able to substitute more live feed than current products, with a vision of one day replacing live feeds altogether.
Ingmar Høgøy, founder of Molofeed, said: ‘We share the same vision as Aqua-Spark - a more sustainable aquaculture industry that’s capable of meeting our global food production needs.
‘We are honoured to be part of the Aqua-Spark family of companies working towards growing an improved aquaculture industry.’