Kailua-Kona, Hawaii, U.S.A.-based aquaculture biotechnology company Pacific Hybreed announced USD 1 million (EUR 850,880) was earned in a funding round to support the company’s expansion of commercial-scale hatchery operations for shellfish.
Investors included Honolulu, Hawaii, U.S.A.-based investors Hawai’i Angels and Blue Startups, according to a release by Hawai’i Angels. Pacific Hybreed develops high-performance oyster and clam seed using advanced hybrid breeding techniques and is the first to commercialize hybrid breeding in shellfish using “hybrid vigor,” which involves crossbreeding genetically diverse parents.
Pacific Hybreed said the approach builds on traditional selective breeding techniques but does not use genetic modification. Instead, the company takes high-performance seed that’s customized to the specific conditions of each farm in order to maximize survival rates, generate larger yields, and reduce cost.
"Closing this round allows us to move from proven field results to scaled commercial production at a critical moment for the industry," Pacific Hybreed CEO Melissa DellaTorre said. "Hawaiʻi Angels and Blue Startups represent an incredible base of local support. It's so meaningful to build this company here at home with investors who understand both the opportunity and the impact."
The company added that shellfish farming is high-risk, and many farmers often lose large yields of crop before or during harvest due to environmental stressors and inconsistent seed performance, thus creating the gap in the market for Pacific Hybreed to focus on pre-harvest seeds and conditions. Additionally, the company added that its’ product has demonstrated about 30 percent greater yield and a 50 percent reduction in harvesting costs when used because of the shellfish’s uniform growth. The company said farmers can increase output and probability at commodity pricing, so existing operations do not change. Now, the company is working with more than 20 farm customers and research sites across North America.
"When we stocked Pacific Hybreed seed while we were growing oysters, we consistently found more uniform growth and very few double set oysters,” Kauai Sea Farm Product Manager Dave Anderson said. “Growing oysters in Hawaii can be more labor intensive than farming in cooler regions, so the performance and quality of each individual oyster seed is critical.”
The investment will allow Pacific Hybreed to scale up its hatchery production, which is necessary as demands currently outpace supply, the company said in the release. Additionally, Pacific Hybreed will expand its farm-specific breeding programs and continue broadening into additional species like clams.
"Pacific Hybreed is addressing a critical bottleneck in aquaculture,” Hawai’i Angels member and deal lead Rajeev Rai said. “Improving survival and yield at the seed level has a direct impact on farm economics and the resilience of the broader seafood supply chain."
