Regal Springs has garnered a USD 14 million (EUR 13.5 million) investment and permission to expand its operations in Mexico.
The Singapore-based farmer of premium tilapia, with operations in Indonesia, Honduras, and Mexico, made the announcement 18 November. It said the investment will be allocated toward developing farming technologies, the introduction of advanced fish health programs, and implementation of artificial intelligence strategies.
Regal Springs said the fresh funding comes after it received previous capital injections surpassing USD 20 million (EUR 19.3 million) over the past two years.
“Sustainability has been core to our DNA for over 30 years, since we first set up in Indonesia, farming in its pristine, deep-water lakes. We are understandably proud of our record in producing the freshest and most succulent tilapia. We provide our consumers with premium tilapia, supported by our highly integrated, fully traceable supply chain,” Regal Springs CEO Alois Hofbauer said. “That certainly costs a little more, but we are convinced that when we deliver our high-quality nutritious tilapia, distinguished by its superior taste and texture, our consumers recognize its true value. These continuing investments demonstrate our confidence in the growth potential of our markets and our commitment to the blue foods movement.”
Regal Springs became a member of the Blue Food Partnership’s multi-stakeholder Sustainable Aquaculture Working Group in August 2022.
On 7 November, 2022, the company announced it had received a formal endorsement of support from the Mexican government to expand its tilapia aquaculture operations in the country.
Mexico's Comisión Nacional de Acuacultura y Pesca (CONAPESCA) and the Mexican Secretariat of Agriculture and Rural Development (SADER) have granted a 10-year concession and renewal for the company's lake-farming operations, the company said.
Photo courtesy of Regal Springs
