Spain shrimp farmer raises €16m for expansion
Shrimp farmer Norway Seafood, which runs a pilot plant in Medina del Campo, northwest Spain, has raised €16 million (£13.4m) to speed up expansion plans.
Norwegian-owned Noray, formerly known as Gamba Natural, operates a vertically integrated production facility which includes Europe’s first commercial shrimp hatchery.
The company says that its system, based on microbial technology, is free of antibiotics and chemicals, has zero water exchange, and is cheaper to run than conventional recirculating aquaculture systems (RAS). Nora’s “Climate-Smart system” strictly controls parameters such as oxygen, salinity, ammonia, bacteria, and floc level, produces a clean-tasting fresh shrimp that is processed and packed within an hour of harvest.
The fundraising was led by investment company Creadev, with SWEN Blue Ocean and Stellar Impact joining previous investors in the round.
The money will be used to help ramp up production capability to meet demand from supermarkets and foodservice customers.
Noray producers whiteleg shrimp (Litopnaeus vannamei) and has Aquaculture Stewardship Council certification.