Sustainable Aquaculture IV

Working capital to portuguese company.

Resumen de la inversión

Categoría de impacto

Economía azul

Tipo de inversión

Préstamo

Interés anual

4.5

Plazo

meses

Nivel de riesgo

B-

NaturaFish is a seabass and seabream sustainable aquaculture. Harmoniously integrated into nature, it represents a sustainable alternative to wild fishing and high-density aquaculture in offshore cages, ensuring animal wellbeing and a positive environmental impact.

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 tons 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. First sales occurred in June 2020 and the company sold over 100 tons of fish in five months, expecting to reach operational and financial stabilization during 2021, with an annual production of 500 tons.

This is the promoter's fourth campaign with Goparity, after raising over 350.000€ in the previous campaigns, NaturaFish is now fully operating, waiting solely on the installation of the solar panels and a security system. The funds raised in this campaign will be used to leverage the company's working capital, in order to allow for the fish to grow to an ideal size and to maximize the production capacity until next Spring.

This fourth campaign is the second tranche of an approved total of 300.000€ to be raised at Goparity until year-end (2021). After raising 150.000€ successfully early this month, NaturaFish will now attempt to raise the remaining 150.000€.

¿Cuál es el impacto?

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 neighbouring 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 provide 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 the 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, colour, 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 the 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 anaesthetics 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 flavours 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 to this supply/demand imbalance in a sustainable way, producing 500 tons of fish annually.

Employment promotion

The Company will create 19 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.

Contribución a los Objetivos de Desarrollo Sostenible
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Sobre el promotor

About

Viveiros da Espargueira - Actividades de Aquacultura S.A.

NaturaFish fue creada para rellenar el vacío en la oferta de pescado que existe en Portugal, con el objetivo de ofrecer róbalo y dorada de calidad diferenciada, resultante de una producción de acuicultura lo más natural posible, sostenible y rastreable. Los métodos de creación garantizan el bienestar animal y el mínimo impacto ambiental.

La empresa es compuesta por un equipo con más de 18 años de experiencia en la producción y venta de róbalo y dorada cultivada en acuicultura.

Con una fuerte apuesta en ubicaciones de referencia, con condiciones naturales altamente favorables para la acuicultura y para el desarrollo de tecnología de punta, NaturaFish se enfoca en la prevención de patologías y en el aumento del bienestar animal, actuando con la naturaleza y no contra ella.

NaturaFish – Alvor es una acuicultura de 19 hectáreas con agua salada, en la reserva natural del estuario de Alvor, en la provincia de Algarve, en el sur de Portugal. Está localizada a 2,6 km de la desembocadura del río. Los tanques de la acuicultura hacen parte del estuário y se beneficia de la renovación de agua natural que ocurre con las mareas.

Los niveles de salinidad, renovación de agua, biodiversidad, nutrientes, clima y o otras condiciones ambientales son ideales para el cultivo de róbalo y dorado, que como peces salvajes hacen parte del ecosistema del estuario.

La empresa cuenta con la licencia necesaria para la acuicultura dentro de un santuario de pájaros que forma parte de Natura 200, la red de áreas de protección de la naturaleza de la Unión Europea. El alto nivel de protección ambiental en el parque Natura 2000 garantiza la preservación a largo plazo del medio ambiente alrededor de la acuicultura, incluyendo la biodiversidad y la calidad del agua, factores esenciales para la producción de pescado natural. En efecto, la designación Natura 2000 ofrece una protección ambiental que aumenta sustancialmente el valor de la ubicación.

Para el promotor del proyecto, es esencial tener un impacto positivo en el medio ambiente en lo que respecta a su actividad en la naturaleza, el respeto por los animales y la forma en la que administran su producción. Por esta razón es crucial la inversión en I&D para garantizar una producción con calidad diferenciada, que se sostenible y justa para todos los intervinientes.

El sistema de gestión de la acuicultura reúne los datos de cada tanque, permitiendo monitorear remotamente y, en algunos casos, controlar la renovación del agua, niveles de oxígeno, temperatura, alimentación, y agentes patógenos. El sistema es accesible a través de una aplicación móvil, permitiendo el control a distancia 24 horas por día, 7 días por semana. Las notificaciones automáticas por SMS informan a los operadores sobre cambios en las condiciones que requieren de la atención de un ser humano. Por ejemplo, las alteraciones extraordinarias del nivel de oxígeno disuelto, nivel de agua y actividad alimentar.

Las configuraciones dirigen al sistema para responder automáticamente a los cambios en las condiciones en cada tanque individual sin necesidad de intervención humana. Por ejemplo, cuando la concentración de oxígeno en el agua cae a niveles inferiores de aquellos predeterminados, el sistema activa las válvulas de oxígeno hasta que el nivel de concentración de oxígeno sea restaurado dentro de los valores predeterminados, momento en el que estas se desactivan nuevamente. El sistema no solo notifica la ocurrencia de alteraciones en los tanques, sino también las medidas tomadas para solucionarlas.

El equipo de NaturaFish tiene décadas de experiencia en la agricultura en estanques naturales en las bahías y estuarios limpios de Portugal.

Sitio web del promotor

https://naturafish.com/

Equipo

[{"id":276,"promoter_id":188,"name":"Miguel Theriaga","description":"Partner & CEO at Viveiros da Espargueira SA, Portimão, Portugal (2018-present)\r\nManager at Aqualvor Lda and Piscicultura Vale da Lama Lda, Lagos, Portugal (2000-18)\r\nAssistant Manager, Production at Janssen Cilag Farmacêutica Lda, Oeiras, Portugal (1992-2000)","link":"","role":"CEO","member_photo":"","avatar_id":""},{"id":277,"promoter_id":188,"name":"Ricardo Costa","description":"Production manager da Viveiros da Espargueira SA, Portimão, Portugal (2018-present)\r\nSite manager – Sole ongrowing at SEA8 Aquacria SA, Portugal (2013-2016)\r\nSole Pre-ongrowing manager at SEA8 Aquacria SA, Portugal (2012-2013)","link":"","role":"Production Manager","member_photo":"","avatar_id":""},{"id":278,"promoter_id":188,"name":"Nuno Battaglia","description":"Chairman at Algarve Partners, Lagos, Portugal (2015-present)\r\nCo-founder National, Partner at Public Development Partners LLC, Utah, USA (2008-14)\r\nCo-founder, EVP, CFO, Director at HealthEquity Inc., Utah, USA (2002-07)","link":"","role":"","member_photo":"","avatar_id":""},{"id":279,"promoter_id":188,"name":"António Castel-Branco","description":"CFO of Algarve Partners, Lagos, Portugal (2018-present) \r\nInvestor and CFO of The Presidential Train, Lisbon, Portugal (2016-present) \r\nRegional Manager of Banco BPI, Algarve, Portugal (2014-2018)","link":"","role":"","member_photo":"","avatar_id":""},{"id":280,"promoter_id":188,"name":"Jorge Grave","description":"Partner at Battaglia Capital SA, Lagos, Portugal (2016-present) \r\nPartner at Jilmarés Lda, Lagos, Portugal (2001-2018) \r\nProject Director at Angola LNG, Soyo, Angola (2014-2016)","link":"","role":"","member_photo":"","avatar_id":""},{"id":281,"promoter_id":188,"name":"Bernardo Empis Meira","description":"BLUE CROW Partner - SOCIEDADE DE CAPITAL DE RISCO, S.A","link":"","role":"Board Member","member_photo":"","avatar_id":""}]

Modelo de negocio
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