Canadian aquaculture supplier gets £10.8m in export support funding
Money will allow Poseidon Ocean Systems to respond to the growing demand for fish welfare technologies with ready-to-deploy systems
Vancouver Island-based fish farming aeration and oxygenation innovator Poseidon Ocean Systems has secured CAD 20 million (£10.8m / NOK 145m) in funding from Export Development Canada (EDC), which it says will accelerate the scale and impact of its technologies worldwide.
Poseidon’s Flowpressor and Oxypressor systems produce a high rate of oxygen flow at the right pressure for maximum efficiency, allowing the farmer to produce oxygen as required, while saving energy and reducing emissions.
The company’s Depth Charge system then fully dissolves supplied oxygen into the water, ensuring that oxygen is available for the fish to consume while eliminating wasted oxygen.
Clean-tech exports
“Poseidon’s innovative aquaculture technology is helping fish farmers worldwide boost yields while significantly reducing their carbon footprint,” said Guillermo Freire, senior vice-president, Mid-Market Group at EDC.
“As global demand for sustainable protein continues to rise, Poseidon’s solutions not only relieve pressure on wild fisheries but also position Canada as a hub for clean-tech aquaculture exports. We are proud to support Poseidon as they explore opportunities to expand internationally, driving their future growth through trade diversification.”
Poseidon’s innovative aquaculture technology is helping fish farmers worldwide boost yields while significantly reducing their carbon footprint.
In a social media post, Poseidon said that in Chile – the world’s second-largest producer of farmed salmon - it is “fast becoming the go-to provider for on-site end-to-end fish life support systems combining aeration and oxygenation, thanks to the quality, reliability, and cutting-edge innovation of our solutions”.
It added: “This market trust reflects our dedication to deliver technologies that protect fish populations, enhance operational efficiency, and contribute to a more sustainable industry.”
Ready-to-deploy systems
Poseidon said the EDC-supported facility will allow it to respond to the growing demand for fish welfare technologies with ready-to-deploy systems, improve the efficiency of its current oxygenation and life support solutions, and advance the development of industry-specific answers that consolidate its end-to-end “Life Support System” for aquaculture.
Founded and headquartered in Campbell River, British Columbia, with an additional office in Puerto Montt, Chile, Poseidon said it continues to expand its global footprint, bringing sustainable aquaculture technologies to Chile, Scotland, Norway, Australia and other key markets.
“This investment will strengthen our manufacturing capacity, deepen collaboration with producers, and drive innovation for healthier oceans and a more resilient food future,” said the company.
Established in 2015, Poseidon now has more than 100 units of its fish life support equipment deployed over five countries.
Backing for firm but not sector
This is not the first backing that Poseidon has had from EDC. It took part in Poseidon’s CAD 28m Series B fundraise in March last year, which was led by Ecosystem Integrity Fund (EIF), and joined by InBC Investment Corp., a strategic investment fund created by the province of British Columbia.
EDC is wholly owned by the Canadian government, which is destroying Poseidon's market in its home province through its policy of "transitioning" the BC salmon farming sector from open net pens to floating closed containment or land-based operations by mid-2029. If the policy is not reversed, more than 70 salmon farms will be closed with the expected loss of hundreds of farm jobs and thousands in the supply and processing sectors.
