Oceano Fresco Nursery

Oceano Fresco is a shellfish aquaculture company that aims to feed the world sustainably.

This is the promotor's 20th Goparity campaign.

This campaign aims to finance the setup of a new nursery site and system. The promoter will install and trial a new intermediate production phase to create scale for its seed production via productivity gains both upstream (hatchery) and downstream (farm). In particular:

• Acquisition and setup of new and bespoke nursery system, using floating upweller technology (FLUPSY), to enable an increase of seed output capacity in the hatchery and to enable the farm, by providing a larger seed entry size more suitable for the open-sea environment.
• In loco study of site water quality parameters and microalgae availability throughout the seasons. The nursery phase uses natural available microalgae in the sea, contrasting with the upstream hatchery phase where it needs to be cultivated.
• Set up of a new pilot site for the company, including requirements on infrastructure, support equipment, staffing and utilities, as to enable a successful R&D trial.  The nursery phase is located in a sea harbour environment, with easy access, wave protection and naturally more operations friendly that the open-sea environment of the farm phase.
• Research & Development focused on a successful trial and continuous improvement of seed cultivation protocols, as to enhance growth and survival efficiency for the two existing clam species (Venerupis Corrugata and Ruditapes Decussatus) and to assess adding also flat oyster (Ostrea edulis) to enable a future company species mix diversification.
• Feasibility study for future CAPEX nursery investments, mainly the expansion to more equipment units but also support equipment needs.

The company has raised 4,150 million euros through Goparity's investor community since its first campaign in January 2020:

• The amount raised in Oceano Fresco I, II, III, IV, V, and VI campaigns (730.000€) was used to co-finance the installation of the world's first open sea clam farm in Lagos, Algarve. The clams are suspended in the open sea, where they can grow sustainably in their natural environment.
• The amount raised in Oceano Fresco Innovation I, II, and III campaigns (500.000€) was used to co-finance two research and development (R&D) projects focused on the cultivation of clams and one project in the area of food innovation. The R&D projects in the areas of genetics and pathology are highly innovative worldwide, leading to two incentives totaling 2.0 million. The food innovation project aims to develop new products and packaging to create value and promote sustainable clam consumption.
• The amount raised in has Oceano Fresco Growth I, II, III, and IV campaigns (1.000.000€) was used for cultivation, operations, sales, marketing, and R&D. The Growth series meant to finance projects that enhance the growth of the company's production to enter the market with a larger sales scale.
• The amount raised on Oceano Fresco Farm I, II, and III (750.000€) was used to continue financing projects that enhance and grow the company's production.
• The amount raised in Bivalves Hatchery I , II and III (1.180.000€) was used to increase the production and consistency of seeds throughout the year, including cultivation of microalgae, the sole food source for bivalves.

Oceano Fresco is a pioneering company in the sustainable, large-scale farming of bivalves. The company started in 2015 and initially focused on studying and creating the scientific foundations for the project. In a second phase, between 2020 and 2021, the company invested in building and operating its main assets, namely the BioMarine center, including a state-of-the-art hatchery, located in Nazaré and the first open-sea farm for clams located off Lagos, in the Portuguese region of the Algarve. In a third phase, since 2022, Oceano Fresco has focused on controlling and improving its production process throughout the various stages of the 3-year clam life cycle. 

The hatchery stage operates relatively successfully and has already produced over 100 million clam seeds. Its current challenges are maintaining microbiological control, improving its efficiency, and increasing its production capacity. The farm stage is implemented but holds inherent challenges, related to the pioneering and innovative nature of the operation. Initially, the challenges were operational, linked to scaling and its natural learning curve, which are now largely under control.  Later, the main challenges became linked to open sea farming, where the company continued to improve its processes to find the best fit for the various species of bivalves. 

The promoter's main objective remains to achieve market entry with large-scale harvests and revenues. As such, the company has raised support and funding from diverse sources, including bank loans, public subsidies, and equity rounds. The most recent round which took place in July 2024, found support in known existing and new investors. Oceano Fresco has a history of crowdlending with Goparity and its investors who have accompanied the company's development through the various phases and years, enabling the pioneering mission of creating a sustainable, large-scale shellfish farming company.