November 13, 2019

By Lynda Kiernan

Dutch sustainable aquaculture-focused investment fund Aqua-Spark has made another tech-driven investment, backing Ace Aquatec, an internationally recognized Scottish innovator of aquaculture equipment.

Founded in 2011, Aqua-Spark has grown to become an investment force with a mission to transform the global aquaculture value chain, and to ultimately make sustainability widespread and profitable enough that it becomes the only fish farming method. Since 2015 the fund has invested in 18 complementary SMEs that span farming, alternative feed ingredients, disease prevention and treatment, and consumer-facing aquaculture products to build a portfolio of assets under management totaling EUR 111.7 (US$123 million).

Launched in 1999 by inventor John Ace Hopkins and investor Annette Pyne-Carter, Ace Aquatec has won multiple industry awards including two Queen’s Awards for Innovation, as well as Aqua Nor and Global Aquaculture Alliance Innovation Awards for its environmentally responsible predator deterrents, its in-water humane electric stunner, and its 3D biomass estimation systems. 

Its latest innovations include a new lice removal system developed in partnership with a local salmon farm, as well as fish monitoring, lice detection, and renewable barge projects that are currently in its pipeline.

Now led by managing director Nathan Pyne-Carter, Ace Aquatec manages global R&D projects and manufacturing at two UK factories, and partners with world-leading experts in various scientific fields to apply its breakthrough technologies to the aquaculture and marine industries. The startup already has distribution relationships in key global markets, and is currently expanding its team to provide more local support in these regions. 

“Ace Aquatec’s focus on developing technologies for responsible farming is paramount to increasing animal welfare in aquaculture, and an important part of Aqua-Spark’s mission,” said Aqua-Spark co-founders Amy Novogratz and Mike Velings. “We believe in Ace Aquatec’s impact potential and look forward to supporting the company as it develops more innovative products and continues to expand its reach.”

As the primary investor in this round, Aqua-Spark backing will enable Ace Aquatec to pursue global expansion of its operations, to increase its stock of rental equipment to better serve its growing list of domestic and international rental customers, and to increase its R&D project in number and by scale.

Established as a pure-play sustainable aquaculture investor, Aqua-Spark has broadened its investment reach into aqua-tech in recent years, creating a well-rounded portfolio of companies that create synergies between each other, while generating returns for investors. 

“Aqua-Spark has a fantastic model for supporting and growing companies with a long term perspective which aligns well with AceAquatec’s own strategic plan,” said Nathan Pyne-Carter, managing director, Ace Aquatec. “We are excited to work with their team and to grow stronger partnerships with some of the highly innovative companies in their portfolio.”

In October 2017 Aqua-Spark made two tech-driven investments in Proteon, a Polish ag biotech company developing naturally occurring bacteriophages that target specific infections in fish and poultry without resulting in eventual resistance, as is the case with antibiotics, and Cryoocyte, a technology platform that helps improve the efficiency of selective fish breeding without employing genetic modification.

Last year, the fund made an investment in Hatch 1.0, the first global accelerator created to back early-stage aquaculture startups, followed by an investment in CageEye, a software and hardware developer working to improve efficiency in feeding practices for the salmon farming industry.

This year saw the fund back Molofeed, a Norwegian developer of larval feed for finfish and shrimp based on proprietary, micro-encapsulation technology in April, and Fisher Piscicultura (Fisher), an impact-driven tilapia farm based in Brazil known for its innovative, new cage system, last month. 

– Lynda Kiernan is Editor with GAI Media and daily contributor to the GAI News and Agtech Intel platforms. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@globalaginvesting.com.