Projects

Oceano Fresco II

100% Confirmed Amount = € 75.000,00
Reserved Amount = € 0,00
€ 75.000,00
100% Funded
4 yr

term

5.5%

a year

6 mth

grace period

monthly

instalment

B-

rating

blue_economy

Blue economy

12. Responsible Consumption and Production

SDG 12. Responsible Consumption and Production

Installation of a sustainable off-shore clam farm.

Impact

Ecosystems provide essential services such as food, fresh water, clean air and shelter. They mitigate natural disasters, pests and diseases and help regulate the climate. A sustainable ‘blue economy’ will play a central role in alleviating the multiple demands on land resources and in tackling climate change. The sector can contribute by promoting a sustainable use of aquatic and marine resources and by providing an alternative source of protein that can relieve pressure on agricultural land.

In the next 50 years, it is predicted that the search for protein will grow exponentially. The cultivation of clams is one of the most sustainable alternative sources of protein used nowadays with less environmental impact, as no chemicals or artificial feeds are used; the clams have a filtering function fighting aquatic pollution; and they capture CO2 in their shell formation.

Once installed, the off-shore farm will have the capacity to capture 99,4 tonnes of CO2 per year, based on annual production estimated of 600 tonnes of clams.

Click here to read the article "Can the ocean feed us sustainably?" written by the promoter.

Project Information

Oceano Fresco is going to install the first open sea off-shore clam farm in the world in the south of Portugal (Algarve). The installation will happen in 2020 and it will occupy 100 ha, 5 km from Lagos/Alvor coast.

This is the second campaign the promoter funds through GoParity after having raised 75.000€ successfully, an amount that was used to order the cables, chains, concrete blocks, buoys and lanterns that are needed to set up the farm. The company has since then raised a 3.8M€ investment from BlueCrow Capital, a BioEconomy-focused venture capital fund.

The structure of the clam farm will be composed of submersed horizontal cables, on which lanterns (plates wrapped in a mesh) will be placed and where the clams will be cultivated.

The farm is fundamental to complete the biological cultivation cycle because, after the spawning and hatchery phase, clams need to grow-out until the adult edible size, promoting environmental sustainability and raising the satisfaction and the security level for the final consumer. At the off-shore farm, the clams find the perfect conditions to complete the cycle, with a natural source of food and perfect abiotic conditions.

Besides that, Oceano Fresco is building a bio marine centre in Nazaré to produce the clam seeds that will be cultivated in the Algarve’s farm, the first off-shore clam farm in the world, allowing control of all of the value chain.

Financial Viability

The off-shore farm will have a total investment of 3,1M€, of which 1,5M€ was secured by the MAR2020 program and 800K€ by the company's own capital. Puromar wants to fund the remaining amount via various campaigns with GoParity.This is the second tranche of funding, after they raised 75.000€

Moreover,on April 8, 2020 Oceano Fresco announced the closing of a €3.8 million investment from BlueCrow Capital, a BioEconomy-focused venture capital fund.

100% Funded
4 yr

term

5.5%

a year

6 mth

grace period

monthly

instalment

B-

rating

blue_economy

Blue economy

12. Responsible Consumption and Production

SDG 12. Responsible Consumption and Production

Installation of a sustainable off-shore clam farm.

100% Confirmed Amount = € 75.000,00
Reserved Amount = € 0,00
€ 75.000,00

Impact

Ecosystems provide essential services such as food, fresh water, clean air and shelter. They mitigate natural disasters, pests and diseases and help regulate the climate. A sustainable ‘blue economy’ will play a central role in alleviating the multiple demands on land resources and in tackling climate change. The sector can contribute by promoting a sustainable use of aquatic and marine resources and by providing an alternative source of protein that can relieve pressure on agricultural land.

In the next 50 years, it is predicted that the search for protein will grow exponentially. The cultivation of clams is one of the most sustainable alternative sources of protein used nowadays with less environmental impact, as no chemicals or artificial feeds are used; the clams have a filtering function fighting aquatic pollution; and they capture CO2 in their shell formation.

Once installed, the off-shore farm will have the capacity to capture 99,4 tonnes of CO2 per year, based on annual production estimated of 600 tonnes of clams.

Click here to read the article "Can the ocean feed us sustainably?" written by the promoter.

Project Information

Oceano Fresco is going to install the first open sea off-shore clam farm in the world in the south of Portugal (Algarve). The installation will happen in 2020 and it will occupy 100 ha, 5 km from Lagos/Alvor coast.

This is the second campaign the promoter funds through GoParity after having raised 75.000€ successfully, an amount that was used to order the cables, chains, concrete blocks, buoys and lanterns that are needed to set up the farm. The company has since then raised a 3.8M€ investment from BlueCrow Capital, a BioEconomy-focused venture capital fund.

The structure of the clam farm will be composed of submersed horizontal cables, on which lanterns (plates wrapped in a mesh) will be placed and where the clams will be cultivated.

The farm is fundamental to complete the biological cultivation cycle because, after the spawning and hatchery phase, clams need to grow-out until the adult edible size, promoting environmental sustainability and raising the satisfaction and the security level for the final consumer. At the off-shore farm, the clams find the perfect conditions to complete the cycle, with a natural source of food and perfect abiotic conditions.

Besides that, Oceano Fresco is building a bio marine centre in Nazaré to produce the clam seeds that will be cultivated in the Algarve’s farm, the first off-shore clam farm in the world, allowing control of all of the value chain.

Financial Viability

The off-shore farm will have a total investment of 3,1M€, of which 1,5M€ was secured by the MAR2020 program and 800K€ by the company's own capital. Puromar wants to fund the remaining amount via various campaigns with GoParity.This is the second tranche of funding, after they raised 75.000€

Moreover,on April 8, 2020 Oceano Fresco announced the closing of a €3.8 million investment from BlueCrow Capital, a BioEconomy-focused venture capital fund.

Puromar Lda

Unlocking the potential of shellfish through science-driven aquaculture.

Active since
2014
Fiscal Country
Portugal
Operating in
Nazaré and Algarve
Industry
Sustainable Aquaculture
GoParity Loans
6
About Puromar Lda

Oceano Fresco was founded in 2015 by Bernardo Ferreira de Carvalho. Puromar Lda is a subsidiary of Oceano Fresco SA (fully owned by it) and is the company that owns the licenses of the off-shore farm installed in Algarve.

Oceano Fresco develops and commercializes high-value bivalve varieties, using modern aquaculture methods and a strong scientific rationale to become the reference player in this highly sustainable and growing global industry. The company's motto is: “Unlocking the potential of shellfish through science-driven aquaculture”.  The latter is led by a Board of Directors (5 people) combining plant and fish breeding with business experience, including launching and scaling up of startups. They are supported by a growing Operational Team (12 people) covering R&D, production, and business and a 2-person Advisory Board with world-renowned breeding experts.

Bernardo Carvalho (Chief Executive Officer and Founder).

Bjørn Skjævestad (Non-executive Board Member).

Nuno Arantes (Chairman of the Board).

Olivier Cottet (Non-executive Board Member).

Bernardo Empis Meira (Non-executive Board Member).

The company has built a state-of-the-art BioMarine Center, including hatchery, labs, and offices in central Portugal, as well as a 100-hectare sea farm off the coast of the Algarve region. With these rare and complementary assets, the company will apply advanced selection and breeding methods to native European clam species of high nutritional and market value, which are presently being replaced in the market by their low-value Asian counterparts (low organoleptic value).

The Business Model

The revenue source of Oceano Fresco is the high quality and value clam sale, where the market demand greatly exceeds the supply. The production will mainly be sold in Europe but also exported for sale to other regions such as Japan and South Korea. By controlling several steps in the value creation chain, Oceano Fresco is poised to become a leading producer of clams and eventually other bivalves in the foreseeable future, if adequately funded. Over the last few years, the Company’s unique value proposition has led to it being awarded approximately €3.5 million in competitive grants and €7.5M in seed-stage equity investments.

The Company expects to reach a turnover of €9m in less than 3 years, and of €250m in a matter of 7 years. So far, it has reached out to over 50 potential customers (among shellfish distributors and supermarkets). Their intention to buy at the prices established in the business model largely exceeds the company’s production capacity in the first years, a positive sign for the company to achieve the predicted turnover.

Oceano Fresco has already assembled a world-class team of international advisors, managers, scientists, breeders, and technicians. Oceano Fresco aims to become a game-changer in the €20 billion shellfish market, contributing to higher levels of sustainability in European and global food production.

Track Record

Oceano Fresco was founded in 2015 by Bernardo Ferreira de Carvalho (Founder and CEO).

Since then, the company is proud to have accomplished the following milestones:

  • (2015-16) Conducted a field study in key aquaculture countries that confirmed market potential;

  • (2015 onwards) Hired a highly skilled and experienced team covering R&D, production, and business

  • (2015 onwards) Awarded €3.5 million in Portuguese and EU grants

  • (2016-17) Completed proof-of-concept projects that confirmed the business model viability

  • (2018) Signed a 25-year land lease concession for the BioMarine center location

  • (2018) Obtained all the required licenses from the authorities to operate the hatchery 

  • (2018) Acquired a fully licensed, 30+20-year concession for off-shore farming with 103ha.

  • (2018) Established a 5-member BoD combining plant and fish breeding with business experience

  • (2018-2020) Raised €7.5 million in seed and A rounds from 2018 to 2020, from institutional and individual investors

  • (2020) Set up the off-shore farm physical infrastructure in the sea

  • (2020) Built a state-of-the-art BioMarine center, including a hatchery, labs, and offices

  • (2020) Bought a 12-meter boat, that is based in the company's harbor in Lagos.

  • (2021) 2,5 million clam seeds ready to be sent to the off-shore farm in Algarve.

Promoter Rating: B-

Guarantees

This project is secured with guarantee from the holding company, Oceano Fresco, SA. 

Puromar Lda

Unlocking the potential of shellfish through science-driven aquaculture.

Active since
2014
Fiscal Country
Portugal
Operating in
Nazaré and Algarve
Industry
Sustainable Aquaculture
GoParity Loans
6
About Puromar Lda

Oceano Fresco was founded in 2015 by Bernardo Ferreira de Carvalho. Puromar Lda is a subsidiary of Oceano Fresco SA (fully owned by it) and is the company that owns the licenses of the off-shore farm installed in Algarve.

Oceano Fresco develops and commercializes high-value bivalve varieties, using modern aquaculture methods and a strong scientific rationale to become the reference player in this highly sustainable and growing global industry. The company's motto is: “Unlocking the potential of shellfish through science-driven aquaculture”.  The latter is led by a Board of Directors (5 people) combining plant and fish breeding with business experience, including launching and scaling up of startups. They are supported by a growing Operational Team (12 people) covering R&D, production, and business and a 2-person Advisory Board with world-renowned breeding experts.

Bernardo Carvalho (Chief Executive Officer and Founder).

Bjørn Skjævestad (Non-executive Board Member).

Nuno Arantes (Chairman of the Board).

Olivier Cottet (Non-executive Board Member).

Bernardo Empis Meira (Non-executive Board Member).

The company has built a state-of-the-art BioMarine Center, including hatchery, labs, and offices in central Portugal, as well as a 100-hectare sea farm off the coast of the Algarve region. With these rare and complementary assets, the company will apply advanced selection and breeding methods to native European clam species of high nutritional and market value, which are presently being replaced in the market by their low-value Asian counterparts (low organoleptic value).

The Business Model

The revenue source of Oceano Fresco is the high quality and value clam sale, where the market demand greatly exceeds the supply. The production will mainly be sold in Europe but also exported for sale to other regions such as Japan and South Korea. By controlling several steps in the value creation chain, Oceano Fresco is poised to become a leading producer of clams and eventually other bivalves in the foreseeable future, if adequately funded. Over the last few years, the Company’s unique value proposition has led to it being awarded approximately €3.5 million in competitive grants and €7.5M in seed-stage equity investments.

The Company expects to reach a turnover of €9m in less than 3 years, and of €250m in a matter of 7 years. So far, it has reached out to over 50 potential customers (among shellfish distributors and supermarkets). Their intention to buy at the prices established in the business model largely exceeds the company’s production capacity in the first years, a positive sign for the company to achieve the predicted turnover.

Oceano Fresco has already assembled a world-class team of international advisors, managers, scientists, breeders, and technicians. Oceano Fresco aims to become a game-changer in the €20 billion shellfish market, contributing to higher levels of sustainability in European and global food production.

Track Record

Oceano Fresco was founded in 2015 by Bernardo Ferreira de Carvalho (Founder and CEO).

Since then, the company is proud to have accomplished the following milestones:

  • (2015-16) Conducted a field study in key aquaculture countries that confirmed market potential;

  • (2015 onwards) Hired a highly skilled and experienced team covering R&D, production, and business

  • (2015 onwards) Awarded €3.5 million in Portuguese and EU grants

  • (2016-17) Completed proof-of-concept projects that confirmed the business model viability

  • (2018) Signed a 25-year land lease concession for the BioMarine center location

  • (2018) Obtained all the required licenses from the authorities to operate the hatchery 

  • (2018) Acquired a fully licensed, 30+20-year concession for off-shore farming with 103ha.

  • (2018) Established a 5-member BoD combining plant and fish breeding with business experience

  • (2018-2020) Raised €7.5 million in seed and A rounds from 2018 to 2020, from institutional and individual investors

  • (2020) Set up the off-shore farm physical infrastructure in the sea

  • (2020) Built a state-of-the-art BioMarine center, including a hatchery, labs, and offices

  • (2020) Bought a 12-meter boat, that is based in the company's harbor in Lagos.

  • (2021) 2,5 million clam seeds ready to be sent to the off-shore farm in Algarve.

Promoter Rating: B-

Guarantees

This project is secured with guarantee from the holding company, Oceano Fresco, SA. 

Payments Status: On time

2021-02-18

Project Update

  • 2.5m seeds have been produced which are ready to go to the sea.

  • The reconfiguration and improvement of the 12-metre vessel has been finalised, and the boat is now ready operational at the port of Lagos.

  • Three more containers containing flashlights have been received.

  • Oceano Fresco has received notices of purchase interest from several potential customers which include supermarket chains, seafood distributors and purchasers.

  • Several R&D projects have been established and Oceano Fresco has applied to Portuguese and European funding programs to finance them.

  • Progress has been made on ongoing R&D projects in generic, pathology and cultivation projects.

By the end of March, Oceano Fresco plans to achieve:

  • Seed placement in the sea nursery and obtaining growth data.

  • Increased production cadence for the seeds.

  • Visible progress in the construction of the 22-metre vessel.

  • Receive further notices of interest from potential customers, especially from Spain.

2020-05-22

Amount extension

The promoter decided to increase the total amount of the project from €50.000 to €75.000, maintaining the end date of the campaign on 13/06/2020.

Payments Status: On time

2021-02-18

Project Update

  • 2.5m seeds have been produced which are ready to go to the sea.

  • The reconfiguration and improvement of the 12-metre vessel has been finalised, and the boat is now ready operational at the port of Lagos.

  • Three more containers containing flashlights have been received.

  • Oceano Fresco has received notices of purchase interest from several potential customers which include supermarket chains, seafood distributors and purchasers.

  • Several R&D projects have been established and Oceano Fresco has applied to Portuguese and European funding programs to finance them.

  • Progress has been made on ongoing R&D projects in generic, pathology and cultivation projects.

By the end of March, Oceano Fresco plans to achieve:

  • Seed placement in the sea nursery and obtaining growth data.

  • Increased production cadence for the seeds.

  • Visible progress in the construction of the 22-metre vessel.

  • Receive further notices of interest from potential customers, especially from Spain.

2020-05-22

Amount extension

The promoter decided to increase the total amount of the project from €50.000 to €75.000, maintaining the end date of the campaign on 13/06/2020.