Land-based salmon aquaculture company Pure Salmon has announced the opening of its headquarters in Abu Dhabi view a partnership with the Abu Dhabi Investment Office (ADIO).
Pure Salmon is owned by private equity funds managed by Singapore-based 8F Asset Management. That parent company raised USD 358.8 million (EUR 306 million) in 2020 to fund the construction of recirculating aquaculture systems in Poland, Japan, France, and the U.S. in its push to become a global leader in salmon aquaculture.
Pure Salmon said its new headquarters in Abu Dhabi will manage the company’s production facilities worldwide, and the partnership with ADIO will enable the company to “hire world-class talent and expand its operations” on the way to its salmon production goal of 260,000 metric tons each year.
ADIO has a USD 545 million (EUR 465 million) innovation program that provides incentives to companies in order to help them expand to Abu Dhabi, with a focus on agriculture-focused technology.
“We are proud and grateful to have ADIO as a strategic partner in the development of Pure Salmon,” 8F Asset Management Chairman and Founder Stephane Farouze said. “Setting up Pure Salmon’s global headquarters in Abu Dhabi will enable the growth of a local team that will advance sustainable economic solutions and establish the UAE as an industry leader. With ADIO’s support, Pure Salmon will advance towards its goal of supplying the world with nutritious, healthy, and locally produced protein.”
Having Pure Salmon located its headquarters in Abu Dhabi is a part of the country’s push to enhance its domestic production, ADIO Director General Tariq Bin Hendi said.
“Over the last year, Abu Dhabi’s AgTech sector has experienced exponential growth, led by rapid technological developments that are enabling sustainable agriculture and farming practices to take root in arid and desert climates,” Hendi said. “The introduction of Pure Salmon’s pioneering technology and knowledge to Abu Dhabi’s ecosystem will enhance the emirate’s aquaculture capabilities and create a hub from which new agriculture solutions can proliferate. ADIO is committed to supporting businesses aligned with our mission of advancing regional and global innovation.”
The country’s government is keen to expand its aquaculture production, Abu Dhabi Secretary General of the Environment Agency Shaikha Salem Al Dhaheri said.
“The aquaculture sector has been identified as a priority sector for development by the government of Abu Dhabi,” she said. “One of the key initiatives seeks to encourage economic investment in the sector, thereby reducing pressure on the UAE’s severely overexploited fisheries, providing meaningful employment, and generating wealth for citizens by producing safe, wholesome and high-quality seafood products. We are excited to welcome Pure Salmon to Abu Dhabi and look forward to celebrating its sustainable impact on the aquaculture ecosystem.”
Pure salmon recently launched a new salmon brand in French supermarkets, and purchased the aquaculture division of Krüger Kaldnes from environmental services firm Veolia in June.
Photo courtesy of Pure Salmon
