AquaMaof has booked USD 230 million worth of business, company says

Published on
May 29, 2019

Rosh Haayin, Israel-based AquaMaof Aquaculture Technologies has closed more than USD 230 million (EUR 206.5 million) in deals involving work on more than a dozen facilities worldwide, the company said in a news release on 29 May.

AquaMaof specializes in indoor aquaculture technology and turn-key projects, specifically focused on recirculating aquaculture systems (RAS). 

Its ongoing projects include work on the world's largest indoor salmon aquaculture facility, located in Newfoundland, Canada – a USD 70 million (EUR 62.9 million) development being built by Grieg NL; three projects in Russia, including a trout facility, an upcoming USD 28 million (EUR 25.1 million) facility that will produce 2,500 tons of Atlantic salmon, and a previously undisclosed contract signed for a salmon facility to be built soon; two RAS projects for growing Atlantic salmon being built in Japan with a combined capacity of 15,000 metric tons; a catfish facility in Slovakia that has been operating since 2015, a grouper facility in Southeast Asia, and  “more facilities including Germany and Norway in design stage,” according to the company.

“With more than USD 230 million in closed deals, we’re thrilled to be leading the world’s fastest-growing food sector while meeting the international demand for fish and its healthy consumption,”AquaMaof CEO and Co-Founder David Hazut said in the release.” Until now, people living in regions away from fishing areas or seafood production were only able to consume imported chilled or frozen products. The state-of-the-art facilities that we design, plan and build for our customers are located close to major cities, which dramatically reduces transportation costs and produce fresh, natural, and high-quality fish at competitive prices.”

The company is still led by its original founders, who include David Hazut, Yoav Dagan, Neder Snir, Leonid Goldshtein, Gary Myers, and Nitay Goldman. At Seafood Expo Global in Brussels, Belgium on 9 May, AquaMaof Vice President of Marketing and Sales Shai Silbermann told SeafoodSource the company believes the future of the seafood industry lies in the wider adoption and deployment of RAS technology.

“Fish consumption amongst our growing population surpasses the rate at which it can be replaced through natural reproduction, resulting in the need for an alternative, sustainable, green option. AquaMaof’s … RAS-based facilities provide a solution for responsibly-farmed and harvested aquaculture practices, for almost any type of fish. Strategically located no more than two hours outside of large cities, AquaMaof can grow fresh and natural fish for customers in landlocked regions who are currently used to consuming chilled or frozen imported products,” the company said in its release. “Fueled by ongoing challenges in traditional fish farming, such as ocean pollution, and overfishing, AquaMaof promotes sustainable practices that include proprietary water-recycling techniques. There are no antibiotics or chemicals used in the farming process, only natural products. Moreover, efficient power consumption is guaranteed, utilizing about one-third of the power consumed by other system designs. RAS facilities enable harvest all year-round, and fish grow to commercial size faster, compared to other methods.”

Photo courtesy of AquaMaof

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