Microbes and flatfish on investor’s menu

According to Aqua-Spark, Sogn Aqua has developed a unique system for growing halibut on land more sustainably and efficiently than its competitors. Its patented water system pumps water from the clean depths of the fjord, through the farm and – after removing pollutants – back into the bottom of the fjord. The system is low maintenance, sustainable, and leaves no mark on the environment (95% of the materials used are recyclable). A special, patented technology provides high aeration and oxygenation of the water to keep disease at bay and no chemicals or antibiotics are needed.

Sogn Aqua is currently producing about 50 tonness of halibut annually, which is being delivered to restaurants throughout Europe. Aqua-Spark’s $2.75 million investment will be used to scale up production to 800 tonnes, while reducing fishmeal and fish oil usage.

Microbial protein

Aqua-Spark first invested in US-based biotechnology company Calysta in January 2015 and yesterday offered an additional $4.1 million – a key part of Calysta’s $30 million series C financing. Other investors included the US feed giant (and new owner of Ewos) Cargill.

Calysta cultivates an efficient, methane-eating natural microbe that produces protein. Called FeedKind, it is made from a single cell protein that has a smaller carbon footprint than soy and is proven to be a healthy, readily available and highly digestible alternative to fishmeal.

Calysta intends to use the Series C investment for new product development, commercial manufacturing and continued advances in its proprietary state-of- the-art gas fermentation platform.

In addition to the funding, Calysta and Cargill will collaborate in the North American manufacturing and global marketing of Calysta’s protein.

Inspiration

“To transform an industry, we’re looking across the sector – from feed to plate – and determining how we can have the greatest impact,” said Mike Velings and Amy Novogratz, co-founders of Aqua-Spark. “The individual investments stand on their own, but paired together have the power to alter the entire seafood landscape. Calysta’s sustainable feed can alleviate pressure on the ocean, where most feed is still sourced. And Sogn Aqua’s astonishingly sustainable farm operation puts a much-desired but red-listed fish back on the menu. Integrating Calysta’s feed and a feed monitoring system could result in the most environmental farm on the planet. Ideally this model is scaled to help change the entire industry, which is precisely Aqua-Spark’s mission.”

“Calysta’s financing, with a distinguished group of investors, enables us to accelerate introduction of FeedKind™ protein at commercial scale,” said Alan Shaw, Calysta President and CEO. “By providing the aquaculture industry with a sustainable alternative to conventional fishmeal ingredients, we are helping to address a worldwide shortage of protein. This is a serious potential threat to global food security.”

“Sustainability is the backbone of our production, and the recent investment by Aqua-Spark is a great opportunity for us to continue our work to expand internationally,” said Jan Arne Brekke, Sogn Aqua CEO. “The strategic partnership with Aqua-Spark enables us to build one of the most sustainable fish farms in the world. Their model and portfolio of investment makes us very positive, especially when it comes to our efforts within feed ingredients and feed technology.”