Projects

Algarve’s Sustainable Aquaculture

100% Confirmed Amount = € 150.000,00
Reserved Amount = € 0,00
€ 150.000,00
100% Funded
2 yr

term

5%

a year

12 mth

grace period

monthly

instalment

B-

rating

blue_economy

Blue economy

6. Clean Water and Sanitation

SDG 6. Clean Water and Sanitation

14. Life Below Water

SDG 14. Life Below Water

Sea bass and bream sustainable aquaculture, in the Algarve.

Impact

Marine Biodiversity Protection

  • Environmental integration: The Company’s facilities are harmoniously integrated into the Alvor Natura 2000 bird sanctuary waterway. The fishponds are old, converted salt ponds dug in the ground and built with native materials. The facilities were designed to blend with the natural environment of the estuary’s ecosystem, mindful of the local flora and fauna, including the farm’s neighboring birds. Aerial cables were removed and replaced with under and on-ground cables. The ponds were covered with nets to keep both fish and birds safe.

  • Ecosystem equilibrium: The farm’s operations promote ecosystem equilibrium. Water from all 19 of the farm’s ponds is completely renewed each day with the tidal exchange. Water released back into the estuary is rich in nutrients that promote the development of microalgae that feed the shellfish farmed elsewhere in the estuary and provides nutrients as head of a complete chain. Equilibrium is maintained by the symbiotic activity of fish and shellfish farming in the same ecosystem.

  • Water quality: Ponds and waterways were designed for efficient water management and 100% water renovation every 24 hours with the tidal exchange. Critical variables such as water quality, flow, renovation, and oxygenation are actively monitored, managed, and controlled 24/7. Constant water renovation allows for dilution of excrements expelled by the fish, which at low levels of concentration are naturally used as nutrients with minimal impact on the ecosystem.

  • Sustainable feed: NaturaFish has a strong commitment to the use of sustainable animal feed. In partnership with Aquasoja, the Company is leading the development of a new type of feed for improved digestibility that uses a higher percentage of fishing industry byproducts, thus minimizing waste released by its fish and avoiding the killing of wild fish to use as feed. The Company is also using vegetable sources and alternative omega-3 and fatty acids sources for feed production.
    In addition to supplemental feed, fish raised in the NaturaFish estuary ponds benefit from live feed that comes in naturally with each tidal exchange, twice daily. This combination of supplemental and natural feed gives the fish superior organoleptic qualities, such as taste, texture, color, and form.

Animals wellbeing promotion

  • The fish swim freely in large, one-ha ponds dug in the estuary where they grow naturally as wild. Water oxygen levels are carefully monitored and controlled. Supplemental feed (in addition to live feed that comes in naturally with the tidal exchange) is delivered automatically, following a careful plan that takes into account various factors, such as size, lifecycle stage, climate, and growth. Different feed formulas are used in response to different pathological risks. Water quality, the main driver of disease prevention, is carefully monitored and is maintained primarily through constant renovation. Essential oils are used to treat certain health conditions and as anesthetics to numb the fish to reduce handling stress, during sampling, for instance. Finally, special techniques are used to cause minimal stress during harvest, resulting in minimal animal suffering and release of low levels of adrenaline, as well as improved preservation of natural flavors and increased shelf life while fresh.

An alternative to the importation of fish raised in high-density cages

  • Europe suffers from a huge seafood supply/demand imbalance. Ninety percent of the seabass and seabream consumed in Portugal is imported, primarily from large-scale aquaculture production in Greece, Spain, and Turkey. Industrial scale aquaculture, using high-density cages offshore, although efficient, does not meet minimum standards of sustainability and animal welfare. European seabass and gilthead seabream grow naturally in the wild in estuaries and inlets, not offshore in the open sea. NaturaFish answers the supply/demand imbalance, protecting wild stocks sustainably, using methods that ensure animal health and wellbeing.

Employment promotion

  • The Company creates 17 direct jobs (and many more indirect jobs) as it reaches stabilization. These are permanent, year-round jobs in a region that is highly dependent on seasonal tourism. The NaturaFish Team includes specialists in marine biology, pharmacy, nutrition, and ocean sciences. The Company is conducting R&D in partnership with various entities from industry, government, and academia, including highly-skilled professionals, several of them with PhDs.

Project Information

NaturaFish is a seabass and seabream sustainable aquaculture. Harmoniously integrated in nature, it represents a sustainable alternative to wild fishing and high-density aquaculture in offshore cages, ensuring animal wellbeing and a positive environmental impact. Fish live in their natural habitat and are fed by the nutrients provided by the tidal exchange, complemented with supplementary feed. The Company invests substantially in research and development to reach the most natural possible aquaculture.

Located in ria de Alvor, in the Algarve region (South of Portugal), it is part of Natura 2000, the nature conservation areas’ network created by the European Union to ensure the survival of animal species and protect Europe’s most valuable habitats. The farm has 19 hectares of total area and 19 tanks with the capacity to produce 500 ton of fish per year. Due to its ideal geographic location, NaturaFish has the right natural conditions (climate, water quality, and natural food) to produce the highest quality seabass and seabream.

The project started in 2018 with the reclamation of an abandoned shrimp farm built on old salt ponds. The first fish starts were introduced still in the summer of 2018. Following a two-year production cycle, the first harvest and first sales occurred in June 2020. It sold over 100 tons of fish in five months. The Company expects to reach operational and financial stabilization during 2021, with an annual production of 500 tons. For the following three years, besides reaching stabilization and becoming a market reference for quality, NaturaFish has also the following targets:

  • Average per-kg prices of 8.00€ and 11.00€ (for 400g and 800g fish, respectively)

  • Annual revenues of 4.4M€

  • EBITDA margin of 35%

The funds raised through this campaign will be used as working capital, being this campaign part of the complete financial structuring for setting up and operating the project which includes Venture Capital investment, national grants and long term bank financing. 

Financial Viability

The project will have a total investment of 7.6M€, from which 1.23M€ were secured by the non-refundable MAR2020 Program, 1.97M€ by a convertible debt from BlueCrow Capital, 2M€ from long-term bank financing, 150K€ from this campaign and equity.

100% Funded
2 yr

term

5%

a year

12 mth

grace period

monthly

instalment

B-

rating

blue_economy

Blue economy

6. Clean Water and Sanitation

SDG 6. Clean Water and Sanitation

14. Life Below Water

SDG 14. Life Below Water

Sea bass and bream sustainable aquaculture, in the Algarve.

100% Confirmed Amount = € 150.000,00
Reserved Amount = € 0,00
€ 150.000,00

Impact

Marine Biodiversity Protection

  • Environmental integration: The Company’s facilities are harmoniously integrated into the Alvor Natura 2000 bird sanctuary waterway. The fishponds are old, converted salt ponds dug in the ground and built with native materials. The facilities were designed to blend with the natural environment of the estuary’s ecosystem, mindful of the local flora and fauna, including the farm’s neighboring birds. Aerial cables were removed and replaced with under and on-ground cables. The ponds were covered with nets to keep both fish and birds safe.

  • Ecosystem equilibrium: The farm’s operations promote ecosystem equilibrium. Water from all 19 of the farm’s ponds is completely renewed each day with the tidal exchange. Water released back into the estuary is rich in nutrients that promote the development of microalgae that feed the shellfish farmed elsewhere in the estuary and provides nutrients as head of a complete chain. Equilibrium is maintained by the symbiotic activity of fish and shellfish farming in the same ecosystem.

  • Water quality: Ponds and waterways were designed for efficient water management and 100% water renovation every 24 hours with the tidal exchange. Critical variables such as water quality, flow, renovation, and oxygenation are actively monitored, managed, and controlled 24/7. Constant water renovation allows for dilution of excrements expelled by the fish, which at low levels of concentration are naturally used as nutrients with minimal impact on the ecosystem.

  • Sustainable feed: NaturaFish has a strong commitment to the use of sustainable animal feed. In partnership with Aquasoja, the Company is leading the development of a new type of feed for improved digestibility that uses a higher percentage of fishing industry byproducts, thus minimizing waste released by its fish and avoiding the killing of wild fish to use as feed. The Company is also using vegetable sources and alternative omega-3 and fatty acids sources for feed production.
    In addition to supplemental feed, fish raised in the NaturaFish estuary ponds benefit from live feed that comes in naturally with each tidal exchange, twice daily. This combination of supplemental and natural feed gives the fish superior organoleptic qualities, such as taste, texture, color, and form.

Animals wellbeing promotion

  • The fish swim freely in large, one-ha ponds dug in the estuary where they grow naturally as wild. Water oxygen levels are carefully monitored and controlled. Supplemental feed (in addition to live feed that comes in naturally with the tidal exchange) is delivered automatically, following a careful plan that takes into account various factors, such as size, lifecycle stage, climate, and growth. Different feed formulas are used in response to different pathological risks. Water quality, the main driver of disease prevention, is carefully monitored and is maintained primarily through constant renovation. Essential oils are used to treat certain health conditions and as anesthetics to numb the fish to reduce handling stress, during sampling, for instance. Finally, special techniques are used to cause minimal stress during harvest, resulting in minimal animal suffering and release of low levels of adrenaline, as well as improved preservation of natural flavors and increased shelf life while fresh.

An alternative to the importation of fish raised in high-density cages

  • Europe suffers from a huge seafood supply/demand imbalance. Ninety percent of the seabass and seabream consumed in Portugal is imported, primarily from large-scale aquaculture production in Greece, Spain, and Turkey. Industrial scale aquaculture, using high-density cages offshore, although efficient, does not meet minimum standards of sustainability and animal welfare. European seabass and gilthead seabream grow naturally in the wild in estuaries and inlets, not offshore in the open sea. NaturaFish answers the supply/demand imbalance, protecting wild stocks sustainably, using methods that ensure animal health and wellbeing.

Employment promotion

  • The Company creates 17 direct jobs (and many more indirect jobs) as it reaches stabilization. These are permanent, year-round jobs in a region that is highly dependent on seasonal tourism. The NaturaFish Team includes specialists in marine biology, pharmacy, nutrition, and ocean sciences. The Company is conducting R&D in partnership with various entities from industry, government, and academia, including highly-skilled professionals, several of them with PhDs.

Project Information

NaturaFish is a seabass and seabream sustainable aquaculture. Harmoniously integrated in nature, it represents a sustainable alternative to wild fishing and high-density aquaculture in offshore cages, ensuring animal wellbeing and a positive environmental impact. Fish live in their natural habitat and are fed by the nutrients provided by the tidal exchange, complemented with supplementary feed. The Company invests substantially in research and development to reach the most natural possible aquaculture.

Located in ria de Alvor, in the Algarve region (South of Portugal), it is part of Natura 2000, the nature conservation areas’ network created by the European Union to ensure the survival of animal species and protect Europe’s most valuable habitats. The farm has 19 hectares of total area and 19 tanks with the capacity to produce 500 ton of fish per year. Due to its ideal geographic location, NaturaFish has the right natural conditions (climate, water quality, and natural food) to produce the highest quality seabass and seabream.

The project started in 2018 with the reclamation of an abandoned shrimp farm built on old salt ponds. The first fish starts were introduced still in the summer of 2018. Following a two-year production cycle, the first harvest and first sales occurred in June 2020. It sold over 100 tons of fish in five months. The Company expects to reach operational and financial stabilization during 2021, with an annual production of 500 tons. For the following three years, besides reaching stabilization and becoming a market reference for quality, NaturaFish has also the following targets:

  • Average per-kg prices of 8.00€ and 11.00€ (for 400g and 800g fish, respectively)

  • Annual revenues of 4.4M€

  • EBITDA margin of 35%

The funds raised through this campaign will be used as working capital, being this campaign part of the complete financial structuring for setting up and operating the project which includes Venture Capital investment, national grants and long term bank financing. 

Financial Viability

The project will have a total investment of 7.6M€, from which 1.23M€ were secured by the non-refundable MAR2020 Program, 1.97M€ by a convertible debt from BlueCrow Capital, 2M€ from long-term bank financing, 150K€ from this campaign and equity.

Viveiros da Espargueira - Actividades de Aquacultura S.A.

Active since
2005
Fiscal Country
Portugal
Operating in
Portugal
Industry
Aquaculture
GoParity Loans
2
About Viveiros da Espargueira - Actividades de Aquacultura S.A.

NaturaFish was created to meet the growing global demand for natural, sustainable aquaculture by becoming Portugal’s leader in the farming of valuable local species for which demand exceeds biologically sustainable fishing levels, such as European seabass (Dicentrarchus labrax) and gilthead seabream (Sparus aurata). Our farming methods ensure animal wellbeing and create a positive environmental impact.

The NaturaFish team has decades of experience in natural pond farming in Portugal’s clean inlets and estuaries.

Location, experience, technology and innovation are success keys, working with nature, not against it.

NaturaFish’s first site is a 19-ha, salt-water, natural-pond farm in the Alvor estuary, in the Algarve southern province of Portugal. The farm is located 2.6 km from the river mouth. The farm’s ponds are part of the estuary and benefit from the natural water renovation occurring with the tidal exchange. Since there is no runoff from intensive agriculture or other industrial land uses upriver, the water quality in Alvor is excellent – clean and nutrient rich – key features in the raising of natural seabass and seabream, which feed on what the tide naturally brings with each water renovation. Salinity levels, water renovation, biodiversity, nutrition, weather, and other environmental conditions are all ideal for the farming of European seabass and gilthead seabream, which as wild fish are a part of the estuary ecosystem.

Natura 2000

The Alvor farm is a parcel fully licensed for aquaculture inside a bird sanctuary that is part of Natura 2000, the EU network of nature protection areas. The heightened level of environmental protection that comes from being inside the Natura 2000 park ensures the long-term preservation of the environment surrounding the farm, including biodiversity and water quality, both key to the production of natural fish. Effectively, the Natura 2000 designation offers an environmental insurance protection that substantially increases the value of the site.

Mission

NaturaFish’s mission is to produce the highest quality fish anywhere, sustainably and with great care for its people, community, the animals it raises and the environment. The Company invests substantially in R&D to improve continuously without compromising its quest for “natural.”

Technology

NaturaFish’s proprietary farm management system gathers data from each pond allowing its team to remotely monitor and in some cases control water renovation, oxygen levels, temperature, feeding activity, and pathogens. The system is accessible via a proprietary mobile app allowing for 24/7 remote monitoring and management. Automatic SMS notifications inform of changes in conditions requiring the attention of a human. E.g., unusual changes in water temperature, water levels, feeding activity, or the suspected presence of pathogens.

Presets direct the system to automatically respond to changes in conditions in each individual pond without human intervention. For example, when oxygen concentration falls below a certain preset level, the system fires off the respective oxygen pumps until adequate oxygen concentration levels are restored to within acceptable limits, at which point the pumps are automatically disconnected. The system notifies the team of the occurrence – the change in conditions as well as any action taken.

Founders

Nuno Battaglia

Chairman at Battaglia Capital SA, Lagos, Portugal (2015-present)

Co-founder National, Partner at Public Development Partners LLC, Utah, USA (2008-14)

Co-founder, EVP, CFO, Director at HealthEquity Inc., Utah, USA (2002-07)

António Castel-Branco

CFO at Battaglia Capital SA, Lagos, Portugal (2018-present)

Investor, CFO at The Presidential Train, Lisbon, Portugal (2016-present)

Regional Manager at Banco BPI, Algarve, Portugal (2014-18)

Jorge Grave

Partner at Battaglia Capital SA, Lagos, Portugal (2016-present)

Partner at Jilmarés Lda, Lagos, Portugal (2001-18)

Construction Manager at Angola LNG, Soyo, Angola (2014-16)

Miguel Theriaga – CEO

Partner & CEO at Viveiros da Espargueira SA, Portimão, Portugal (2018-present)

Manager at Aqualvor Lda and Piscicultura Vale da Lama Lda, Lagos, Portugal (2000-18)

Assistant Manager, Production at Janssen Cilag Farmacêutica Lda, Oeiras, Portugal (1992-2000)

Ricardo Costa – Production Manager

Production manager da Viveiros da Espargueira SA, Portimão, Portugal (2018-presente)

Site manager – Sole ongrowing at SEA8 Aquacria SA, Portugal (2013-2016)

Sole Pre-ongrowing manager at SEA8 Aquacria SA, Portugal (2012-2013)

The Business Model

NaturaFish produces 400g and 800g European seabass (Dicentrarchus labrax) and 400g gilthead seabream (Sparus aurata). Its per-kg price targets for 2020, 2021, and 2022 are 7.00€, 7.50€, and 8.00€ for 400g bass and bream and 10.00€, 10.50€, and 11.00€ for 800g bass, respectively.

The Alvor farm has the capacity to produce 500 tons of fish per year. The company plans on growing its productive capacity through the acquisition of sites on which to develop farms similar to the Alvor installation, with the same care for the animals it raises and the environment.

The Company started developing its Alvor farm in 2018 and had its first harvest in the summer of 2020.

The Company’s sales strategy before the Covid-19 outbreak was to sell to HoReCa wholesalers. Since hotels and restaurants in 2020 saw a massive reduction in activity, the Company redirected its sales efforts to large retailers and distributors to local fish markets, institutional cafeterias, and small retailers.

In the short 5-month sales history, penetration into large retailers has steadily increased, with NaturaFish’s product positioned at the top of the market in both quality and price. In the medium to long-term, the goal is to position NaturaFish as leader in the natural and sustainable aquaculture space by highlighting the Algarve as origin and the organoleptic qualities of its products, highly appreciated by influencer chefs.

In parallel with large retail distribution, and as hotel and restaurant operations normalize, the Company will increase penetration into the HoReCa channel through wholesalers.

Finally, NaturaFish is currently developing a direct-to-consumer communication strategy that may lead to direct-to-consumer distribution, which would allow it to shorten the distribution chain, increase margins, improve traceability and quality control and eliminate or mitigate certain distribution disruption risks. Even so, this is a long-term plan, involving an extended study of several operational and supply-chain issues.

Clients

  • National Large Retail: Continente, Intermarché, and Makro; in advanced discussions with others.

  • National Wholesale: Portfolio of 50+ clients, including NiniPeixe, Mofarpeixe, and Peixovar.

  • Exports: Wholesale distribution in Madrid, Seville, Vigo, Marseille, and Paris. Under advanced discussions with global distributor of fish from sustainable aquaculture. Also developing contacts in the Benelux and Scandinavia and expanding client portfolio in Spain and France.

Suppliers

  • Feed: Aquasoja (R&D partner) and Skretting

  • Fingerlings: Sourced from European nurseries

Track Record

Founded in 2005, under the name Viveiros da Espargueira Lda, the Company converted old salt ponds into ponds for the production of shrimp. Over the years the Company adapted some of its ponds for the production of seabass and seabream. But due to lack of focus and investment, the business floundered, and the farm was left largely abandoned until 2018.

In June 2018, the Company was acquired and recapitalized by Holotec and the current management team was placed at the helm with the goal of transforming the Company into a European reference in natural aquaculture of seabass and seabream. After a 7.5M€ investment, the Company’s facilities have undergone a major renovation. The first fish starts were introduced in September of 2018 and the first harvest took place ahead of schedule in June of 2020 (following a two-year production cycle).

It’s important to highlight that, though it went to market in June 2020, in the middle of a global pandemic and with 90% of hotels and restaurants either struggling or closed, the Company quickly pivoted to large retail and has sold over 100 tons of fish in five months, positioning itself on the top of the market in both quality and price.

Promoter Rating: B-

Guarantees

This project has no guarantees.

Viveiros da Espargueira - Actividades de Aquacultura S.A.

Active since
2005
Fiscal Country
Portugal
Operating in
Portugal
Industry
Aquaculture
GoParity Loans
2
About Viveiros da Espargueira - Actividades de Aquacultura S.A.

NaturaFish was created to meet the growing global demand for natural, sustainable aquaculture by becoming Portugal’s leader in the farming of valuable local species for which demand exceeds biologically sustainable fishing levels, such as European seabass (Dicentrarchus labrax) and gilthead seabream (Sparus aurata). Our farming methods ensure animal wellbeing and create a positive environmental impact.

The NaturaFish team has decades of experience in natural pond farming in Portugal’s clean inlets and estuaries.

Location, experience, technology and innovation are success keys, working with nature, not against it.

NaturaFish’s first site is a 19-ha, salt-water, natural-pond farm in the Alvor estuary, in the Algarve southern province of Portugal. The farm is located 2.6 km from the river mouth. The farm’s ponds are part of the estuary and benefit from the natural water renovation occurring with the tidal exchange. Since there is no runoff from intensive agriculture or other industrial land uses upriver, the water quality in Alvor is excellent – clean and nutrient rich – key features in the raising of natural seabass and seabream, which feed on what the tide naturally brings with each water renovation. Salinity levels, water renovation, biodiversity, nutrition, weather, and other environmental conditions are all ideal for the farming of European seabass and gilthead seabream, which as wild fish are a part of the estuary ecosystem.

Natura 2000

The Alvor farm is a parcel fully licensed for aquaculture inside a bird sanctuary that is part of Natura 2000, the EU network of nature protection areas. The heightened level of environmental protection that comes from being inside the Natura 2000 park ensures the long-term preservation of the environment surrounding the farm, including biodiversity and water quality, both key to the production of natural fish. Effectively, the Natura 2000 designation offers an environmental insurance protection that substantially increases the value of the site.

Mission

NaturaFish’s mission is to produce the highest quality fish anywhere, sustainably and with great care for its people, community, the animals it raises and the environment. The Company invests substantially in R&D to improve continuously without compromising its quest for “natural.”

Technology

NaturaFish’s proprietary farm management system gathers data from each pond allowing its team to remotely monitor and in some cases control water renovation, oxygen levels, temperature, feeding activity, and pathogens. The system is accessible via a proprietary mobile app allowing for 24/7 remote monitoring and management. Automatic SMS notifications inform of changes in conditions requiring the attention of a human. E.g., unusual changes in water temperature, water levels, feeding activity, or the suspected presence of pathogens.

Presets direct the system to automatically respond to changes in conditions in each individual pond without human intervention. For example, when oxygen concentration falls below a certain preset level, the system fires off the respective oxygen pumps until adequate oxygen concentration levels are restored to within acceptable limits, at which point the pumps are automatically disconnected. The system notifies the team of the occurrence – the change in conditions as well as any action taken.

Founders

Nuno Battaglia

Chairman at Battaglia Capital SA, Lagos, Portugal (2015-present)

Co-founder National, Partner at Public Development Partners LLC, Utah, USA (2008-14)

Co-founder, EVP, CFO, Director at HealthEquity Inc., Utah, USA (2002-07)

António Castel-Branco

CFO at Battaglia Capital SA, Lagos, Portugal (2018-present)

Investor, CFO at The Presidential Train, Lisbon, Portugal (2016-present)

Regional Manager at Banco BPI, Algarve, Portugal (2014-18)

Jorge Grave

Partner at Battaglia Capital SA, Lagos, Portugal (2016-present)

Partner at Jilmarés Lda, Lagos, Portugal (2001-18)

Construction Manager at Angola LNG, Soyo, Angola (2014-16)

Miguel Theriaga – CEO

Partner & CEO at Viveiros da Espargueira SA, Portimão, Portugal (2018-present)

Manager at Aqualvor Lda and Piscicultura Vale da Lama Lda, Lagos, Portugal (2000-18)

Assistant Manager, Production at Janssen Cilag Farmacêutica Lda, Oeiras, Portugal (1992-2000)

Ricardo Costa – Production Manager

Production manager da Viveiros da Espargueira SA, Portimão, Portugal (2018-presente)

Site manager – Sole ongrowing at SEA8 Aquacria SA, Portugal (2013-2016)

Sole Pre-ongrowing manager at SEA8 Aquacria SA, Portugal (2012-2013)

The Business Model

NaturaFish produces 400g and 800g European seabass (Dicentrarchus labrax) and 400g gilthead seabream (Sparus aurata). Its per-kg price targets for 2020, 2021, and 2022 are 7.00€, 7.50€, and 8.00€ for 400g bass and bream and 10.00€, 10.50€, and 11.00€ for 800g bass, respectively.

The Alvor farm has the capacity to produce 500 tons of fish per year. The company plans on growing its productive capacity through the acquisition of sites on which to develop farms similar to the Alvor installation, with the same care for the animals it raises and the environment.

The Company started developing its Alvor farm in 2018 and had its first harvest in the summer of 2020.

The Company’s sales strategy before the Covid-19 outbreak was to sell to HoReCa wholesalers. Since hotels and restaurants in 2020 saw a massive reduction in activity, the Company redirected its sales efforts to large retailers and distributors to local fish markets, institutional cafeterias, and small retailers.

In the short 5-month sales history, penetration into large retailers has steadily increased, with NaturaFish’s product positioned at the top of the market in both quality and price. In the medium to long-term, the goal is to position NaturaFish as leader in the natural and sustainable aquaculture space by highlighting the Algarve as origin and the organoleptic qualities of its products, highly appreciated by influencer chefs.

In parallel with large retail distribution, and as hotel and restaurant operations normalize, the Company will increase penetration into the HoReCa channel through wholesalers.

Finally, NaturaFish is currently developing a direct-to-consumer communication strategy that may lead to direct-to-consumer distribution, which would allow it to shorten the distribution chain, increase margins, improve traceability and quality control and eliminate or mitigate certain distribution disruption risks. Even so, this is a long-term plan, involving an extended study of several operational and supply-chain issues.

Clients

  • National Large Retail: Continente, Intermarché, and Makro; in advanced discussions with others.

  • National Wholesale: Portfolio of 50+ clients, including NiniPeixe, Mofarpeixe, and Peixovar.

  • Exports: Wholesale distribution in Madrid, Seville, Vigo, Marseille, and Paris. Under advanced discussions with global distributor of fish from sustainable aquaculture. Also developing contacts in the Benelux and Scandinavia and expanding client portfolio in Spain and France.

Suppliers

  • Feed: Aquasoja (R&D partner) and Skretting

  • Fingerlings: Sourced from European nurseries

Track Record

Founded in 2005, under the name Viveiros da Espargueira Lda, the Company converted old salt ponds into ponds for the production of shrimp. Over the years the Company adapted some of its ponds for the production of seabass and seabream. But due to lack of focus and investment, the business floundered, and the farm was left largely abandoned until 2018.

In June 2018, the Company was acquired and recapitalized by Holotec and the current management team was placed at the helm with the goal of transforming the Company into a European reference in natural aquaculture of seabass and seabream. After a 7.5M€ investment, the Company’s facilities have undergone a major renovation. The first fish starts were introduced in September of 2018 and the first harvest took place ahead of schedule in June of 2020 (following a two-year production cycle).

It’s important to highlight that, though it went to market in June 2020, in the middle of a global pandemic and with 90% of hotels and restaurants either struggling or closed, the Company quickly pivoted to large retail and has sold over 100 tons of fish in five months, positioning itself on the top of the market in both quality and price.

Promoter Rating: B-

Guarantees

This project has no guarantees.

Payments Status: On time

2021-02-12

First payment

First instalment was paid to all the investors

2021-02-09

Project Photographs

2021-01-09

100% funded

560 investors successfully raised 150.000€

2020-12-10

Open for investment

This campaign is open for investment

Payments Status: On time

2021-02-12

First payment

First instalment was paid to all the investors

2021-02-09

Project Photographs

2021-01-09

100% funded

560 investors successfully raised 150.000€

2020-12-10

Open for investment

This campaign is open for investment