Post by account_disabled on Feb 19, 2024 5:36:57 GMT 1
Is it possible to farm salmon in the desert?
Industrial-scale aquaculture in the UAE could soon become a reality, with news that Ocean Harvest is about to open its Series A funding round to farm salmon in the desert.
The Abu Dhabi-based company has already raised seed funding of $2.1 million and has its core team in place, with the recent hiring of new CEO Jawad Jamil. Last year it brought on former Atlantic Sapphire specialist Bruno Sardenberg as production director.
Now Jamil says Ocean Harvest will embark on the first major phase of the project, with a Series A funding round targeting $180 million, to fund the construction of its 100,000 square meter land-based salmon farm in Ras Al Khaimah. United Arab Emirates and thus raise salmon in the desert.
Ocean Harvest's ambitious plans to farm salmon in the desert
Earlier this year, Ocean Harvest confirmed it had hired specialists RAS Billund Aquaculture and Suez Water Technologies to build its ambitious pilot facility, aiming to produce 3,500 metric tons of Atlan Special Data tic salmon per year by 2028, with operations at commercial scale in its first hatchery planned for early 2026.
However, its ambitions don't end there, with plans to ramp up to 6,000 tonnes of production within five years of the initial phase. Going forward, the company also aims to expand into neighboring Saudi Arabia markets as well as East Asia.
For its Series A round, Jamil explained that the company is looking for willing investors to make a long-term commitment and who can see the bigger picture.
“We are looking for strategic investors, sovereign wealth funds, impact investors and infrastructure investors because we need those types of shareholders,” Ocean Harvest CEO said in an interview with The Circuit. “They are the ones who are not just looking for pure financial returns...get 3x, 5x returns and get out. They have the understanding and patience required to understand the complexities of building such a complicated infrastructure. And there is more at stake.”
UAE boosts food security through aquaculture
In a country that imports 90% of its food, protein security is increasingly recognized as a priority area. Launching an initiative to support the country's nascent aquaculture sector in 2020, UAE Minister of Climate Change and Environment Mariam Hareb Almheiri described aquaculture as "a core component of the UAE's national food security strategy." the UAE.
“The sector promises to be an important source of high-value protein as our population grows steadily, given that the UAE currently imports 70% of its fish annually. “It is a good use of our water resources (mainly seawater) and aligns with national aspirations to achieve sustainability across the board,” he stated.
"The UAE has what it takes to become a regional hub for high-tech aquaculture , having established several leading facilities, such as the Sheikh Khalifa Marine Research Center , which is currently expanding," Almheiri added at the time. .
Industrial-scale aquaculture in the UAE could soon become a reality, with news that Ocean Harvest is about to open its Series A funding round to farm salmon in the desert.
The Abu Dhabi-based company has already raised seed funding of $2.1 million and has its core team in place, with the recent hiring of new CEO Jawad Jamil. Last year it brought on former Atlantic Sapphire specialist Bruno Sardenberg as production director.
Now Jamil says Ocean Harvest will embark on the first major phase of the project, with a Series A funding round targeting $180 million, to fund the construction of its 100,000 square meter land-based salmon farm in Ras Al Khaimah. United Arab Emirates and thus raise salmon in the desert.
Ocean Harvest's ambitious plans to farm salmon in the desert
Earlier this year, Ocean Harvest confirmed it had hired specialists RAS Billund Aquaculture and Suez Water Technologies to build its ambitious pilot facility, aiming to produce 3,500 metric tons of Atlan Special Data tic salmon per year by 2028, with operations at commercial scale in its first hatchery planned for early 2026.
However, its ambitions don't end there, with plans to ramp up to 6,000 tonnes of production within five years of the initial phase. Going forward, the company also aims to expand into neighboring Saudi Arabia markets as well as East Asia.
For its Series A round, Jamil explained that the company is looking for willing investors to make a long-term commitment and who can see the bigger picture.
“We are looking for strategic investors, sovereign wealth funds, impact investors and infrastructure investors because we need those types of shareholders,” Ocean Harvest CEO said in an interview with The Circuit. “They are the ones who are not just looking for pure financial returns...get 3x, 5x returns and get out. They have the understanding and patience required to understand the complexities of building such a complicated infrastructure. And there is more at stake.”
UAE boosts food security through aquaculture
In a country that imports 90% of its food, protein security is increasingly recognized as a priority area. Launching an initiative to support the country's nascent aquaculture sector in 2020, UAE Minister of Climate Change and Environment Mariam Hareb Almheiri described aquaculture as "a core component of the UAE's national food security strategy." the UAE.
“The sector promises to be an important source of high-value protein as our population grows steadily, given that the UAE currently imports 70% of its fish annually. “It is a good use of our water resources (mainly seawater) and aligns with national aspirations to achieve sustainability across the board,” he stated.
"The UAE has what it takes to become a regional hub for high-tech aquaculture , having established several leading facilities, such as the Sheikh Khalifa Marine Research Center , which is currently expanding," Almheiri added at the time. .