Oceano Fresco Farm II

An open sea farm for a sustainable aquaculture solution.

Investment overview

Impact category

Blue economy

Investment type

Loan

Yearly interest

6.2

Term

months

Risk level

C+

What will you be financing?

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

This is the promotor's 15th Goparity campaign and the second campaign of the Oceano Fresco Farm series (after Oceano Fresco Farm I). Along with the Growth campaigns, this new line of funding aims to continue financing projects that enhance and grow the company's production.

The present campaign aims to finance Alternative farming methods, more specifically:

Study and planning for the implementation of an alternative farming method to allow continuous work at sea;
Acquisition of equipment and resources and implementation of an industrial-scale pilot test;
Carrying out an in-situ test to evaluate the result in productivity and operational capacity of the farm.

The company has raised 2.48 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 Oceano Fresco Growth I, II, III, and IV campaigns (1.000.000€) 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.

In August 2020, the company started clam seed production at the Biomarine Center in Nazaré, a pioneering project in Europe, which included the bivalve hatchery, a laboratory with R&D and offices. In June of the same year, it completed the installation of the open sea farm in Lagos, with an area of 100 hectares and the capacity to produce 600 tons of clams per year, thus achieving total control of the production cycle of this bivalve. The year 2021 marked the start of the first production with the hatchery managing to produce more than 50 million clam seeds, and these same clams are growing well in the open sea.

In 2021, Oceano Fresco doubled the number of employees, creating a team of people composed of several nationalities and talents with a great passion in common: to contribute to feeding the world sustainably. In 2022, Oceano Fresco announced the new Advisory Board, which includes experts in various fields that contribute to the vision of innovation and growth for a sustainable Blue Economy. It also built the new boat 'Oceano Fresco l' and the Operations Center in Nazaré. In the hatchery at Biomarine Center, seeds were cultivated as planned. To accompany this growth and innovation, Oceano Fresco has a new office at University NOVA SBE in Carcavelos (Lisbon) to create value for its clients, consumers, and stakeholders.

What is the impact?

Direct

Promotion of innovation in the industry, in terms of processes and technology, through research and development.

Indirect

Promotion of the marine ecosystem: a sustainable alternative to intensive fishing as a source of protein, the sustainable production of clams contributes to the restoration of biodiversity and marine stocks. The bivalves’ cultivation occurs without artificial feed and requires low energy consumption, filtrate the water and improving its quality and absorbing CO2 to build their shells.

Impact indicators
‍

CO2 avoided per year

clean energy

created by our projects

of sustainable

impacted

Contribution to the Sustainable Development Goals
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About the Promoter

About

Oceano Fresco S.A.

The company is focused on sustainable aquaculture of high-value bivalves (European clams), using scientific research and methods, and an innovative approach in the systematic improvement of aquaculture. Funded in 2015 by Bernardo Ferreira de Carvalho, the company's motto is: “we can regenerate nature if we farm and eat better”. The company is led by a Board of five Directors with scientific, financial, and business experience, including launching and scaling up of start-ups. They are supported by a growing Operational Team (43 people) covering R&D, production, and business and several Advisory Board members with world-renowned fish breeding experts.

The company has built a state-of-the-art Biomarine Center, including a 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 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) Was 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 euros 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;
(2021) Clams growing in the sea, in the company's offshore farm, in Algarve.
(2022) Launch of the new boat Oceano Fresco I and construction of the Packaging and Dispatch center.
(2023) Strengthen investment in R&D and innovation, including key the projects: Atlanticlam and Blue Bioeconomy Pact
(2024) Recognised as the “EU Blue Champion” by the European Investment Bank and the European Commission in the context of the EU missions to Restore our Ocean and Waters and closed Investment series by Indico Capital Partners, BPF, BlueCrow and AquaSpark.
(2025) First-ever harvest and sales of adult flat oysters

Promoter website

http://www.oceano-fresco.pt/

Team
‍

[{"id":26,"promoter_id":213,"name":"Bernardo Carvalho","description":"Entrepreneur and independent consultant for leading companies in agro-genetics, pharma, and banking.","link":"https://www.linkedin.com/in/bernardoferreiradecarvalho/","role":"CEO and Managing Director","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/632/ae9/694/632ae96941696263764371.jpg","avatar_id":66707},{"id":27,"promoter_id":213,"name":"Frederico Reis","description":"Marketing & Sales senior executive with >15 years in FMCG, Consumer Healthcare, Electronics and food Retail across Europe.","link":"https://www.linkedin.com/in/fredericoreis/","role":"CCO and Managing Director","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/632/ae9/b88/632ae9b88f94a223918316.png","avatar_id":66708},{"id":31,"promoter_id":213,"name":"Nuno Arantes Oliveir","description":"Life Science executive and entrepreneur. PhD in Genetics. MIT Portugal, NOVA-SBE. 200M Fund. Research at Univ. of California.","link":"https://www.linkedin.com/in/nunoarantesoliveira/","role":"Co-founder and Advisory Board Chairman","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/632/af8/bfb/632af8bfb24fc739275502.jpg","avatar_id":66716},{"id":33,"promoter_id":213,"name":"Olivier Cottet","description":"Plant breeding specialist. >20 years experience managing breeding programs at Syngenta.","link":"https://www.linkedin.com/in/oliviercottet/","role":"Member of the Advisory Board","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/632/afa/138/632afa13817ed793802888.jpg","avatar_id":66720},{"id":34,"promoter_id":213,"name":"Stan Allen","description":"Shellfish breeding specialist. Director of Aquaculture Genetics and Breeding Technology Center at Virginia Institute of Marine Science (USA)","link":"https://www.linkedin.com/in/stan-allen-29372515/","role":"Member of the Advisory Board","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/632/b05/517/632b05517f5d5154525741.jpg","avatar_id":66721},{"id":184,"promoter_id":213,"name":"Rui Rodrigues","description":"","link":"https://www.linkedin.com/in/rui-rodrigues-07772839/","role":"Non-executive Director, Indico Capital Partners","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/65e/f2f/ca8/65ef2fca84019983535798.webp","avatar_id":131908},{"id":366,"promoter_id":213,"name":"Scott Mactier","description":"","link":"https://www.linkedin.com/in/scott-mactier-17903aa7/","role":"Chief Technical Officer","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/68e/fb5/880/68efb5880a326210712030.jpeg","avatar_id":200301}]

Business Model
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