Bivalve aquaculture company Oceano Fresco S.A. has concluded an investment round spearheaded by BlueCrow Capital, a bio-economy-focused venture capital fund, to the tune of EUR 2.7 million (USD 2.98 million).
The proceeds from the investment round will be dedicated largely to completing the construction of Oceano Fresco’s state-of-the-art BioMarine Center, which includes a hatchery, labs, and offices, in Nazaré, Portugal. Funding will also go towards kicking off operations at the center, the company said.
Total investment in Oceano Fresco has now surpassed EUR 7.5 million (USD 8.27 million). That investment pool includes EUR 3.5 million (USD 3.86 million) from competitive grants and over EUR 1.5 million (USD 1.65 million) from the company’s founders, BlueCrow Capital and an international group of seed investors.
“This is another important step towards our goal of establishing a fully integrated, systematic, scalable and science-based aquaculture operation for the production of superior bivalve species,” said Bernardo Ferreira de Carvalho, founder and CEO of Oceano Fresco.
“This team is well positioned to soon deliver a quite relevant sustainable food solution,” added BlueCrow Capital’s partner Bernardo Empis Meira.
Employing cutting-edge tools and a science-based approach, Oceano Fresco breeds a premium species of bivalves, starting with varieties of clam native to Europe, it said in a press release. In addition to its hatchery and BioMarine Center, the company has acquired open-sea concessions for offshore farming. Experts in shellfish genetics and commercial plant and animal breeding are on staff for the integrated business, which aims to become a “world leader in the sustainable production of high-value bivalve species.”
Photo courtesy of Oceano Fresco
