Kampachi Company scores SOF funding for its offshore aquaculture operation
Farmed seafood producer The Kampachi Company is in the process of closing an equity investment from Althelia Sustainable Ocean Fund (SOF), the firm announced on 19 November.
The investment from Althelia’s SOF – which is managed by Mirova Natural Capital – will go toward The Kampachi Company’s operation in La Paz, Baja California Sur, Mexico, and will help fund sustainable offshore production of King Kampachi, “a sashimi-quality marine fish that will be marketed to restaurants and retailers in Mexico, the United States, Japan, and Europe,” the company said in a press release.
A fund first, the investment ultimately supports “scalable, impact-aligned businesses to drive improvement in ocean ecosystems,” according to Althelia and The Kampachi Company.
“We’re delighted to welcome Althelia on board,” The Kampachi Company CEO Jorge Schmidt said. “The Sustainable Ocean Fund promotes the highest standards of environmental and social responsibility, and as part of this process we underwent a rigorous review of our operating principles and practices. This investment will materially further The Kampachi Company’s ability to produce a consistent supply of healthful, high-quality King Kampachi with no discernable impact on ocean ecosystems.”
“This investment by Althelia validates the scalable, environmentally-sound attributes of offshore kampachi production,” The Kampachi Company co-founder and chief scientific officer Neil Anthony Sims said.
Both Conservation International and the Environmental Defense Fund act as strategic partners for the SOF, Sims said.
“Both these leading organizations recognize that properly sited, well-managed offshore aquaculture can help conserve wild ocean resources, and provide healthful seafood for a growing global population,” he said.
With the investment, The Kampachi Company has closed its Series A financing push and is moving forward with production of King Kampachi in offshore grow-out pens currently stocked with around 200,000 fish. The first harvested fish, weighing from four to six pounds, are expected to be available on the market by late March 2019, the company said.
Image courtesy of The Kampachi Company