FSP venture capital team advise as Earth Capital Limited backs Ace Aquatec, the welfare-first aquaculture technology company
Penelope Garden, Partner and Head of Private Equity and Venture Capital at Field Seymour Parkes has advised cleantech investor, Earth Capital Limited (“ECL”) on an investment into Ace Aquatec, the award-winning aquaculture technology company which specialises in welfare-first outcomes.
ECL joins existing investor Aqua Spark, one of the biggest blue growth investment funds, with a shared mission to move the aquaculture industry towards more healthy, sustainable, and affordable production. The group will benefit from ECL’s experience and support with Senior Investment Manager, Bradley Jones, joining the Ace Aquatec Board. Wider changes to the board see Chris van der Kuyl CBE (Principal of existing investor, Chroma Ventures) appointed Chair and Nina Santi (Senior Advisor at INAQ AS) joining the board as a non-executive director.
The Dundee-based supplier of global aquaculture solutions has raised over £10m since its series A investment with Aqua Spark and Chroma Ventures. Ace Aquatec has already shown strong growth in key markets including the UK, Europe, Canada, South America and South East Asia and will use this additional capital to expand its presence and distributor networks in these markets.
The investment will also enable the acceleration of the firm’s development in innovative aquaculture technology solutions, including its Biomass Camera which has recently started production following successful trials. This underwater camera is designed to detect and quantify fish biomass automatically. It uses machine learning and artificial intelligence (AI) to produce accurate, real-time data on a range of fish species populations and distributions. It will also provide a boost in recruitment, with jobs expected to be created including Engineering, Software, and Sales support roles in Dundee and Chile.
Bradley Jones, Senior Investment Manager of Earth Capital Limited said: “We are excited to be partnering with Ace Aquatec, a key player in the aquaculture industry, on the next stage of its development journey. Championing sustainable practices and setting high welfare standards paves the way to ensuring that seafood farming becomes one of the biggest opportunities to responsibly feed a growing population. Sustainable farming aligns perfectly with Earth Capital Limited’s mission to advance technology within the energy, food, and water sectors while driving towards a net-zero future.”
Nathan Pyne-Carter, CEO of Ace Aquatec, said: “Earth Capital Limited shares our outlook and passions – namely, the critical importance of technology to drive sustainable food production. Together we can tackle one of the world’s most pressing issues by providing sustainable and responsible protein for a growing world population. The team’s support and expertise will help us scale the business and take another huge step forward in the development of high-welfare products for the global seafood industry. We are also excited to welcome Bradley Jones to our board, whose deep knowledge and strategic insights will be invaluable in guiding our future growth.”
