Noray Seafood sees itself as producing a different kind of shrimp than most Europeans are used to.
The Medina del Campo, Spain-headquartered land-based shrimp farmer, known as Gamba Natural until 2020, operates a fully vertically integrated production facility, including the first commercial shrimp hatchery in Europe. The company received a EUR 16 million (USD 19.2 million) investment led by Creadev, SWEN Blue Ocean, and Stellar Impact in 2022, which was essentially a bet on whether Europeans can be convinced to pay premium prices for superior shrimp.
“We produce a very special shrimp because we don't have any additives or add sulfites to the swim, so it's very pure and natural. It's also special because of its cleanliness and tastes very clean,” Noray Seafood Marketing and Branding Head Yolanda Patiño Iglesias told SeafoodSource at the 2024 Seafood Expo Global in Barcelona, Spain.
Noray produced 40 metric tons (MT) of shrimp in 2023 via its proprietary “microbiome” technique and is aiming for 120 MT in 2024, which would nearly max out its pilot farm’s capacity. The farm can probably produce up to 150 MT of shrimp, but if the company can sell through 120 MT, it will likely look to build another facility or enlarge its current campus, according to Patiño Iglesias.
“It is a big goal,” she said. “We don't want to push the limits to the edge, and it’s not only about volumes; it’s about maintaining the same quality of production and the social aspects of the team.”
Noray’s planned trebling of production this year is predicated upon growing existing markets and building new ones. One such avenue the company is exploring is the market for raw shrimp, which Patiño Iglesias said is most often used in Japanese sashimi. It has also begun B2C sales via its website, and it is looking to broaden sales beyond its home market in Spain, Northern Europe, and Austria.
“Our unique selling point is that we're ...
