Portugal-based company SEAentia, which specializes in Corvina aquaculture using Recirculation Aquaculture Systems (RAS), has raised €16 million to strengthen its team and advance the industrial phase of the project, EU Startups reports.
Founded in 2017, SEAentia’s said that it is focused on producing high-quality Corvina in a sustainable way that promotes the animals’ welfare, including optimizing feed use with sustainable ingredient sources and avoiding drugs and antibiotics. The RAS system will recirculate approximately 90% of the system’s water and the plant will use renewable energy in its facility, which is designed to prevent farmed fish from escaping, safeguarding local biodiversity.
The funding, which could be increased by a further €8 million, will enable SEAentia to implement a large-scale infrastructure in the port of Peniche, allowing it to establish its production capacity, which is expected to reach 700 tons per year of high-quality Corvina. The company hopes to commercialize in 2028.
The funds were raised between capital from Indico Capital Partners’ Blue Fund, a €50 million fund dedicated to investments focused in the blue economy, and the Mar2030 Programme. Indico’s Blue Fund aims to support innovative startups and SMEs with a clear commitment to sustainable solutions.
“This investment from Indico and the support from Mar2030 will make possible the world’s first Corvina production facility using recirculating aquaculture systems,” said João Rito, President of SEAentia. “This will enable us to meet growing demand and export this species on a large scale with high quality.”
The investment is also set to be announced during the Luso-French Economic Forum, in attendance will be Portuguese Prime Minister, Luís Montenegro, and the President of the French Republic, Emmanuel Macron.
“We are excited to support the sustainable production of Corvina. It is inevitable that the majority of fish consumed on the planet will come from aquaculture, just as most land-based species are farmed rather than wild,” said Stephan de Moraes, President of Indico Capital Partners. “But we must ensure that the future of aquaculture is synonymous with quality and sustainability—something we found in SEAentia.”
