Dubai, United Arab Emirates-based Ocean Harvest has entered a strategic partnership with two other firms to develop a land-based salmon farm in the U.A.E. with a planned annual output of 2,000 metric tons.
Brussels, Belgium-based Besix Group and the Ajman, U.A.E-based Tech Group signed onto the deal as investors and strategic partners, and recirculating aquaculture system (RAS) specialist Billund Aquaculture and water treatment firm Suez Water Technologies and Solutions have been hired to construct the commercial pilot project in Abu Dhabi, U.A.E.
“The strategic partnership will focus on bolstering Ocean Harvest’s engineering- and construction-management capabilities as well as supporting the company with project-finance structuring and government relations,” the new partners said in a joint statement. “Besix and Tech Group’s engineering experience with large infrastructure projects and wastewater treatment will, together with Billund Aquaculture, provide Ocean Harvest a winning formula.”
Ocean Harvest Co-Founder and CEO Haytham Shanshal said the project has already received USD 1 million (EUR 882,942) in pre-seed capital to fund its design and engineering activities from Besix, Tech Group, and angel investors.
“The partnership comes at an exciting time and will help Ocean Harvest deliver industrial-scale, local production of salmon in the U.A.E.,” Shanshal said. “Conversations with Besix and Tech Group began in early 2021. We share a conviction that disruptive technologies can enable the U.A.E. to address many of its most pressing issues, including food security and environmental sustainability within the agricultural sector.”
Ocean Harvest Co-Founder and Chief Strategy Officer Robert Kupstas said the company sees an opportunity to localize the salmon supply chain in the U.A.E.
“The COVID-19 pandemic disrupted supply chains and exposed the need for fast-tracking such localization of food production, especially for highly perishable products such as fresh seafood and fruits and vegetables,” he said. “I look forward to working with Besix and Tech Group to bolster food security, water conservation, and economic diversification by forging a more sustainable food future for the U.A.E. and the broader Middle East.”
Ocean Harvest’s salmon project will enhance the U.A.E.’s food security and support the country’s sustainable development agenda, according to Ajman Municipality and Planning Department Chairman H.H. Sheikh Rashid bin Humaid bin Rashid Al Nuaimi, who noted around 92 percent of the country’s seafood is sourced from outside the country. The development of aquaculture systems like Ocean Harvest’s will enable the country to lessen its dependence on imports, he said.
“Through this strategic partnership, we will advance the U.A.E.’s role as a global leader in ag-tech innovation, and I am excited to support Ocean Harvest in pursuit of its pioneering goals,” he said.
Photo courtesy of Ocean Harvest
