Lisbon, July 25th, 2024 – Oceano Fresco, a pioneering sustainable seafood company in Portugal, has announced the successful closure of a €17 million funding round. The round was led by Indico Capital Partners, with significant contributions from BlueCrow, Aqua-Spark, and FdCR, a fund managed by Banco Português de Fomento. This substantial investment will be utilized to enhance Oceano Fresco’s sales operations and expand its production capabilities, reinforcing its position as a leader in the sustainable aquaculture industry.
Innovative Farming Techniques
Oceano Fresco specializes in the sustainable and traceable farming of high-quality bivalve species, particularly clams. Their operations are characterized by a vertically integrated system supported by cutting-edge research and development. The company’s focus is on cultivating two native bivalve species, Venerupis corrugata and Ruditapes decussatus. These species are initially bred at the state-of-the-art Oceano Fresco Biomarine Center in Nazaré, Portugal, before being transferred to the world’s first open-sea clam farm off the coast of Lagos in the Algarve.
Sustainable Practices and Environmental Impact
The open-sea farm utilizes vertical lanterns suspended along longlines in the pristine waters of the Atlantic Ocean. This environment, with its mild temperatures, abundant natural food supply (microalgae), and constant water renewal, provides ideal conditions for the clams to grow into high-quality seafood. Oceano Fresco’s farming methods avoid the major negative impacts of other forms of food production, as they do not use artificial feed, antibiotics, or produce farm residues. Furthermore, their operations promote positive environmental impacts, such as carbon capture by the shells and enhanced biodiversity in their farming areas.
Recognition and Awards
Oceano Fresco’s continuous commitment to innovation and sustainability has been recognized with the European Commission’s ‘Seal of Excellence’. This award underscores the company’s efforts in advancing sustainable aquaculture practices and their potential to set new industry standards.
Leadership and Strategic Partnerships
Bernardo Carvalho, CEO of Oceano Fresco, emphasized the importance of having partners who share the company’s vision and values. He stated, “For Oceano Fresco, having knowledgeable partners who share our values and vision is at least as important as raising money per se. With this in mind, we very gladly welcome Indico Capital Partners and Banco Português de Fomento to this adventure, just like we welcome Aqua-Spark’s and BlueCrow’s renewed support, as we continue on our path to become the world leaders in regenerative bivalve aquaculture.”
Investor Perspectives
Stephan de Moraes, Managing General Partner at Indico Capital Partners, expressed enthusiasm about the investment, saying, “We are thrilled to be part of Oceano Fresco’s vision of creating a new sustainable aquaculture vertical that will add to the global protein increasing demand. The demand for clams specifically far outstrips current supply, and growing them sustainably and systematically makes sense at all levels.”
Ana Carvalho, CEO of Banco Português de Fomento, highlighted the significance of this investment for the blue economy. She remarked, “The Capitalisation and Resilience Fund’s investment in Oceano Fresco reinforces the BPF’s commitment to the blue economy by supporting an innovative start-up based in Nazaré that is positioning itself in sustainable aquaculture aimed at cultivating high-quality shellfish in Portugal. This is the Fund’s first investment in the Blue economy, which we believe could start a cycle of BPF support for this priority sector of the national economy.”
Conclusion
Oceano Fresco’s €17 million funding round marks a significant milestone in the company’s journey towards revolutionizing sustainable aquaculture. With the backing of prominent investors and a commitment to innovative, eco-friendly practices, Oceano Fresco is well-positioned to lead the charge in providing sustainable, high-quality seafood to meet the growing global demand. As the company continues to expand and innovate, it sets a compelling example for the future of sustainable food production.
