Nazaré, Portugal-based clam-farming firm Oceano Fresco has received EUR 6.1 million (USD 6.9 million) in investment, including from sustainable aquaculture investment fund Aqua-Spark.
The Series B fundraising round was also led by Lisbon, Portugal-based Semapa NEXT, the venture arm of the Semapa industrial conglomerate.
Oceano Fresco farms native European clams (Venerupis Corrugata and Ruditapes Decussatus) at its BioMarine Center and at an open-sea clam farm in Portugal. Its vertically integrated operations aim to provide a steady supply of clams that are both highly sought-after and currently in decline and threatened by exotic and invasive species, according to the company.
“Oceano Fresco has distinguished itself as a leader in the clam industry through the use of cutting-edge tools and a science-based approach to breeding, bringing both technical and business innovation to the fast-growing Blue Economy sector,” Aqua-Spark said in a press release. “The company is now poised to ramp up its commercial efforts, starting with varieties of premium clam species native to Europe. With this investment, the company will grow its operations and build its first storage and packaging facilities. Initially, company expansion will focus on Spain and Portugal while laying the foundation for a global business.”
Aqua-Spark co-founders Mike Velings and Amy Novogratz said the investment aligns with their fund’s mission “to transform the global aquaculture industry into one that is healthier, more sustainable, and more accessible.”
“As one of the most efficiently and sustainably produced animal proteins from a resource use perspective, requiring minimal energy and feed inputs to produce, bivalves align well with Aqua-Spark's portfolio,” they said in a press release. "We're pleased to be among the investors leading Oceano Fresco's Series B as we have been looking for the right bivalve operation to invest in since we launched. Oceano Fresco stood out to us as a best-in-class example of shellfish farming with the potential to scale and shift the industry towards more sustainability and transparency."
Aqua-Spark now has invested EUR 220 million (EUR 250 million) in 23 small- and medium-sized businesses involved in aquaculture, including firms involved in farming operations, technology, and the production of alternative feed ingredients and consumer-facing aquaculture products. On 4 November, it announced an investment in Hofseth Biocare, and in October, it invested in aquaculture software firm Ecto. The goal of the fund is to “ultimately make sustainability widespread and profitable enough that it becomes the only way to farm fish.”
Oceano Fresco Co-Founder and CEO Bernardo Ferreira de Carvalho said thanks to the new capital injection, “the future looks very bright” for his company.
"It's very exciting to have such renowned, seasoned investors as Aqua-Spark and Semapa NEXT on board with Oceano Fresco,” Ferreira de Carvalho said. “They share our vision for sustainable food and the importance of innovation to deliver it.”
Photo courtesy of Aqua-Spark/Oceano Fresco
