Oyster farming improves water quality by acting as a filter (a single oyster filters on average 55 liters of water a day), by capturing nitrogen and CO2 from the sea, reduces the need for extractive fishing and it doesn’t interfere with the natural stocks. Learn more about the project's sustainability in the article written by the marine biologist Francisco Bernardino, Oysterworld's CEO - check it here
Oysterworld aims to increase its production capacity to 360 tonnes / year, trough an investment in innovative production material and methods of oyster farming.
The Project needs a global investment of €2.1M to be topped between the years of 2019 and 2020. This investment will be mostly funded by a fund of outright grants called MAR2020, in the amount of €1.07M, the remnant funds will be granted by the company's own capital and through crowdlending.
After the successful funding of Oysterworld's previous projects, 700.000€ (31% of the total investment) has already been invested and implemented: the cleaning row was acquired, the sorting and calibration of the oysters and the warehouse construction are done, and the photovoltaic panels that generate energy for the whole operation is operating.
This third stage of the investment hopes to complement and fasten the other components, like:
(i) Production equipment (Hexcyl Bags)- The bags and tables are necessary to accommodate the oyster growing.
(ii) Soil transactions
(iv) Supporting equipment (mini-dredge, backhoe, oysters tables and sizing machine)
(v) Payment of the selector- The selector is an essential investment in the oyster farming which enables the separation of the product by weight (calibers)
Payments Status: On time