Previously it was announced that Israeli RAS specialists AquaMaof were to supply tech, now is it Danish Alpha-Aqua working for Norcantabric.
The Norcantabric project, which aims to provide five per-cent of Spain’s demand for salmon, ie 3,000-tonnes-a-year (eventually 10,000) is set to cost around EUR 31 million. To date, it has been reported that the company has raised EUR 2.3 million. EUR 1.3 million from the public company SICAN in November last year and regional investors Sodercan put in EUR 1 million in the project last July.
It was originally reported that the tech was being developed by the Israeli RAS specialists AquaMaof.
AquaMaof has many projects in the pipeline such as the Grieg family’s land-based salmon farm at the foot of Mount Fuji. It is also providing the tech for Pure Salmon’s rollout of land-based sites around the globe.
El Diario Alerta as well as Europa Press reports that its RAS facility will now be based on tech from the Danish company Alpha-Aqua.
In July, the US arm of Alpha-Aqua announced that it was providing the grow-out tech for an expansion for South Florida (USA), land-based pompano farmer Aquaco. Before the expansion, the company produced around a tonne of fish per week.
Owner of the project Juan Emilio Cano Reveles emailed SalmonBusiness late afternoon on Friday after the article was published in the morning.
How much of the EUR 31 million is currently funded? How do you plan on getting the rest?
“On September 22nd the Project had its official construction kickoff for Phase I, hatchery/ nursery first feeding facility, being at 20 per-cent advancement though. Capex for that facility is fully funded (EUR 2.3 million) with equity and a governmental grant. Financial structuring (project finance) for Phase II, grow-out is being carried out by a specialised financial firm with banks to be closed in November 2020. Along with this closing equity and grants are also aligned to the strategy,” said Cano.
Can you say anything about why are you now working with Alpha Aqua?
“The new technology has introduced the EKF (export agency) providing potential guarantees up to 80 per-cent of the investment on Danish technology, hence aiding the financial firm’s financial institution relationship. So this technology provides a boost to our financial efforts,” he added.
On Saturday morning, Alpha-Aqua CEO Johan Herold Højgaard contacted SalmonBusiness.
Have you done any salmon projects?
“We do many species from pompano, halibut, olive flounder, shrimps, barramundi. You name it, our team is extremely experienced and the combined RAS system designed commissioned and operated are best in class in the industry, though the alpha line systems are a new revolutionary concept. And yet there are not many big references within in salmon, but we are working a pipeline of projects way beyond EUR 100 million, all testing in the Norwegian market for RAS(ILAB) is done in alpha system as well as most the major RAS feed producers have bought our nanosystems for their development sites,” said Højgaard.