Description

Ace Aquatec is focused on delivering solutions to overcome key challenges in the aquaculture industry, such as excess mortality rates on fish farms, poor fish welfare, high prevalence of parasites, seal attacks and escapes, as well as fish experiencing a high degree of stress and suffering at the point of harvest. Farmers also run their production cycles with very limited data and are unable to empirically identify areas for improvement & increased yield.

This campaign seeks to co-finance Ace Aquatec's ambitious plan for 2025, including hiring more staff and additional production of highly specialized devices marketed to end clients (100 new cameras, and 36 new stunners). This campaign will enable Ace Aquatec to continue its mission to introduce more responsible farming methods globally. The funds raised will work as an advance payment on a 1,2 million euro grant awarded by Innovate UK, and its equity round.

This is the promoter's second campaign after previously raising 500.000 in Ace Aquatec, which was fully settled. 

The "A-Biomass", an advanced underwater camera system, promises to transform the way fish farmers across the globe monitor and grade their fish stocks by using machine learning and artificial intelligence (AI) for real-time millimeter accuracy. The fully automated camera is smaller than many on the market, weighing in at just 8.5kg, and has been proven to withstand the harshest environmental conditions, having been developed and tested in Scotland’s most northerly waters.

Ace Aquatec's cameras use point cloud technology to track fish, simultaneously differentiating individuals from the shoal. Continuous measurement of fish size in the grading process reduces feed waste, meaning less impact on the immediate environment and efficiency savings for farmers. The system can also be operated remotely so fish stocks can be monitored from anywhere in the world, reducing the need to be on site.

The camera system is the promoter’s latest addition to the company's suite of high-welfare technology products and offers fish farmers a convenient, reliable, and cost-effective way to estimate fish biomass without handling or manual intervention. The "A-Biomass" for Salmon is the first camera in the series, with modules for Trout, Seabass, and Tilapia to follow in 2025.

The Innovate UK grant will be used to focus on developing sealice removal system based on AI cameras and stunning technology. AI cameras will track lice on the fish in real-time in the cage. Then lice detected will trigger an alert to bring in the new Electrolicer. This is a modified electric stunner, configured to use electric fields to relax the muscles of the fish, to prevent them from returning up the pipe, and an ejector pump, which will create a vortex to dislodge lice and eggs. These dislodged lice and eggs will then be captured in a filter, and the cleaned fish will be returned to the cages. The project includes building 3 pilot systems to be deployed in Chile, Norway and UK.

The Impact

Direct

• Promote more sustainable marine economic activities: Ace Aquatec systems result in improved fish welfare for 20,000 fish per day on average in the 40 farms using this technology. Fish weight and distribution data are gathered through the Biomass cameras with real-time image and artificial intelligence (AI), which are important indicators for grading and harvesting the fish, enabling optimised feeding and supporting diseases prevention. At the same time, Ace Aquatec predator control solutions aim to protect fish without harming possible predators or other non-target animals. By enhancing energy efficiencies and reducing emissions, these technologies lower aquaculture's carbon footprint
• Implement sustainable and resilient food production systems: Through reducing feed waste and excess mortalities in the fish production chain, Ace Aquatec systems contribute to increased productivity and production in aquaculture. Their analytics solutions provides enhanced transparency and traceability of the food production system.
• Job creation: with the goal of improving the smart farming technology and continue growing, Ace Aquatec plans on hiring people for 16 new positions, among them data sales, engineering and technical personnel.

Indirect

• Promotion of responsible aquaculture: Ace Aquatec offers safe and rapid fish stunning methods that reduces fish stress and meet welfare standards for humane stunning. In farms that implement Ace stunner solutions, a significant staff welfare and working conditions improvements can be observed.

Impact Indicators

16

jobs created

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

Download the Financial Statements for the promoter here

Download Key Investment Information Sheet

The Promoter

About Ace Aquatec Limited

The company Ace Aquatec was founded in 2007 with Nathan Pyne-Carter taking over the family business in 2012. The business is headquartered in Dundee, Scotland, with satellite offices in Chile, Canada, and Norway, managing 45 team members.

The business was set up to address some of the biggest challenges in aquaculture. In particular, the lack of data on causes of excess mortalities or production inefficiencies drove the promoter to develop a camera that provides smart farming insights and helps improve fish welfare.

Each of Ace Aquatec's three product categories has been distinguished with innovation awards:

• In-water electric stunners are the only systems that guarantee humane harvesting.
• Cameras make it possible to know the exact biomass of the fish as they grow, helping to improve feeding and harvesting.
• Acoustic devices offer sound technology that uses environmentally responsible methods to protect marine environments and keep seals away from salmon farms.

The team

Nathan Pyne-Carter

Chief Executive Officer

Has developed the business from a £20k turnover into an investor-backed business; he is also named inventor on ten company patents. Nathan holds a BA in English and Theology from Cambridge University and has prior experience as a Screenwriter for Ealing Studios/BBC Films.

Alan Macleod

Chief Financial Officer

Alan possesses extensive experience in strategic planning, financial management, and operational transformation which has enabled him to deliver significant value in highly competitive and complex markets.

Keith Davidson

Chief Technology Officer

Keith joined Ace Aquatec recently introducing development improvements & building digital portal capabilities. He has prior experience in CTO and Director roles (Autodesk, Twilio, HP in San Francisco & Sky UK). His main focus has been on cloud services & applications, and data analytics. Keith holds an MSc in Computing - Commerce & Industry.

Tara MG-Woodhams

Chief Sales & Marketing Officer

Tara has over 27 years of experience in building brands and running high-profile marketing strategies for FTSE 100 clients in the UK and Internationally. Prior to joining Ace Aquatec, she headed up Brand strategy Marketing and communication teams at Aegon and Standard Life. She led full-service agency teams for clients including Shell, Diageo, Adidas, Tesco, Marks & Spencer, and Cadbury Schweppes in the UK and India.

Business Model

Partners

AquaSpark

A holding company of innovative, novel solutions to some of aquaculture’s biggest challenges, supported by a growing group of global investors committed to our future food system.

Chroma ventures

Chroma Ventures channels flexible capital, energy and practical advice into various early-stage and established businesses with high-growth potential.

Earth Capital

Earth Capital's mission is to establish itself as the go-to corporate advisory in the private investment markets, focusing on sustainability driven businesses which are addressing the SDG challenges. They offer a premium service and cultivate successful long-term relationships with companies, investors, and trusted partners.

Updates