Poseidon Ocean Systems, a Canadian developer of salmon farming infrastructure and life support systems, is looking to expand to the Chilean market and plans to open an office in Puerto Montt, the company announced in a statement.
“We are excited to bring our solutions to the Chilean market and to build a team in Puerto Montt. This move marks the beginning of a new chapter in Poseidon’s history of being a trusted partner to salmon farmers, and we are looking forward to developing strong relationships in Chile,” Poseidon CEO and Co-Founder Matt Clarke said.
At the beginning of 2021, the company raised CAD 5 million (USD 3.9 million, EUR 3.2 million) in Series A financing to pay for engineering costs and delivering new technologies to market. The investment was led by Ag Capital Canada, a private equity fund based in Tillsonburg, Ontario, and included additional follow-on investment from Export Development Canada (EDC).
Poseidon has introduced two aquaculture innovations over the past two years with a focus on improving the quality and safety of salmon farming operations: the Trident Hybrid Steel Cage System and the Flowpressor compressor system. The company claims the Trident Hybrid Steel Cage System is a breakthrough in floating steel structure design whose advanced safety, strength, and stability features allow fish farmers to operate confidently in higher energy locations. It also allows transitions to rigid nets and floating closed containment without additional infrastructure costs.
In turn, the Flowpressor compressor system is designed to sharply reduce energy consumption and lower the carbon footprint of off-grid fish farming systems, according to the company. The system was designed to improve water quality while reducing diesel fuel consumption by up to 56 percent.
