US-brokered accord paves way for Aqua Bridge and Aqua Green in joint venture
The signing of the Abraham Accords in Washington D.C. between the United Arab Emirates and Israel last September has opened new investment opportunities in the Middle East’s aquaculture market, as the two parties pledge cooperation in ensuring sustainable agricultural development to achieve the region’s food security.
Among the first beneficiaries of the U.S.-brokered accord is U.A.E.’s Aqua Bridge, which has confirmed striking a deal with Israel-based Aqua Green Israel for the development of recirculation aquaculture systems (RAS) to meet growing demand in the Middle East.
Aqua Bridge said in a statement it plans to construct an aquaculture equipment factory within the U.A.E. as a joint venture with Aqua Green Israel “for the production of aquaculture RAS equipment.”
“Aqua Bridge is confident that the development will enhance innovation in the aquaculture sector for the U.A.E. through bringing patented by technologies such as Zero Discharge-RAS to the U.A.E. which will increase the production efficiency and sustainability of land-based aquaculture in the country,” Aqua Bridge said.
According to Aqua Green, the Zero-Discharge RAS technology “uses little energy, saves water, meets stringent environmental regulations, and cultivates fish in commercial volumes.”
“The use of microbial and plant filters allows water and nutrients to circulate through the system and at no point in the production process does water leave our system,” the company said. “Our facilities prevent the release of toxic pollutants into the surrounding environment and keep the consumption of water to a minimum.”
The joint venture between Aqua Bridge and Aqua Green comes after both U.A.E. and Israel agreed under the Abraham Accords to promote bilateral agreements in areas of mutual interest, including agriculture and food security.
Under the accord, Israel and U.A.E. agreed to “cooperate to harness and maximize existing technologies, actively facilitate new collaborations, and share and develop knowledge, technologies and innovative approaches in the field of arid agriculture, irrigation technologies, mariculture techniques in shallow sea-water, sustainable nutritious fish feed production, and seed enhancement in hot and humid climates.”
For Aqua Bridge, the joint venture with AquaGreen adds to an already growing list of partnerships with aquaculture industry players – such as the acquisition of the Green Water Aquaculture Equipment Trading Company – that deal in aquaculture and water-treatment equipment trading companies.
Aqua Bridge had also previously acquired ANAF, a U.A.E.-based aquaculture consulting and operations company with operations in U.A.E., Saudi Arabia, and Kuwait.