Share
100% funded by 270 investors
instalment
monthly
term
2 years
yearly interest
5.2%
risk rating
C+
Oysterworld is a Portuguese company focusing on sustainable oyster production since 2013. The bivalves are exported mainly to Spain, France and the Netherlands.
In 2017, the company increased its production capacity by 400% (to 360 tonnes). Following this increase, Oysterworld decided to adopt a new innovative production method, tested and recognized in Australia. The new system requires an equipment called “Hexcyl Rotative Baskets” that will allow for the automatic oyster rotation on each tide and it will help the company expand its oyster production in Setúbal, where they own an area of 18 hectares. As well as this, the company is trying to fund solar panels and an energy generator, a warehouse and other equipment.
The project requires an overall investment of € 2 141 940, that will be implemented between 2019 and 2020. The company applied to MAR 2020, and was granted € 1 070 970 (50% non reimbursable). Goparity will be co-funding the remaining amount through eight crowdlending campaigns.
The oyster extraction sector is mainly settled in traditional techniques and intensive labour and that is why Oysterworld, which positions itself as one of the most innovative in the sector in Portugal, is looking to use new technological methods which, not only will assure its competitiveness in a growing market, but also ensure better work conditions and a better product.
This project has a very positive social and environmental impact contributing to:
“This is a unique project that combines the positive environmental impact with the growth of a value-added industry, with potential for export and job creation in local communities", explains Nuno Brito Jorge, CEO of Goparity.
Financial Viability
In December 2018, the company’s total assets were above 2,40M€ (1.8M€ in equity and 635.000€ in liabilities). Besides this, the project will generate the following benefits:
With almost half of the necessary amount being funded by an outright grant programme, MAR2020, this represents a sound and secure investment.
Download Key Investment Information Sheet
This loan is secured with the personal guarantees of the company's shareholder Francisco Bernardino.
Founded by the current shareholder and Head of Production, Francisco Bernardino, Oysterworld is dedicated to the sustainable production of oysters. Francisco and his partner, Lopo Rocha, have more than 10 years of experience in the oyster industry. The company owns an area of 18 ha in Setúbal and has 16 employees, including biologists, chemical and mechanical engineers, pathologists and financial experts. For the development of its activity, the company owns two ships - Canes and Alcaçarenha & Cobelos, located in Setúbal. They have a combined area of more than 20 hectares and are located in the Sado Estuary Nature Reserve. The peculiarity of these waters makes them ideal for the development of oyster farming, mainly with regard to hydrographic conditions (tides), saline levels and the richness of the phytoplankton.
Francisco has a master's degree in Marine Biology and has spent his entire career in the sector, undertaking various consulting projects and participating in 2 aquaculture startups. Throughout his career, he has had the opportunity to develop offshore production projects for both bivalves and fish, conduct aquaculture feasibility studies, and design oyster production circuits, among other projects. It is also noteworthy that Francisco has 11 years of experience at the Directorate General of Fisheries (currently DGRM) as a senior aquaculture technician, and has represented Portugal's interests before the European Commission.
Oysterworld has been dedicated to sustainable bivalve farming, namely oysters, for 7 years. The company has a share capital of 400.000€ and exports most of its production to European countries, mainly to Spain, France and the Netherlands. The market they operate in is characterized by high demand and lack of supply (selling 100% of the production in recent years) and it has a great international potential (over 90%). Their value proposition is mainly focused on selling a high quality product not only for the applied production methods, but also for the species, which is greatly accepted in the market with a very competitive price that guarantees that 100% of the production is sold even in years where the production is greater. On top of this, they have an independent strategy by never relying on any single client for more than 20% of the company’s sales.
Active since
2013
Fiscal country
PT
Operating In
Setúbal
Industry
Aquaculture
Number of Goparity Loans
3
Women Shareholders
No
Website
http://oysterworld.pt/2021-10-25
This project has received the risk classification R, due to the fact that its loan restructuring (which happened on January 21st 2021) implied an increase of the loan term of at least 12 months.
2021-01-21
The recent COVID-19 outbreak has affected the promoter's financial situation. Therefore, Oyster World asked for a change in the loan's terms. The new conditions consist of the introduction of an 18 month grace period and the extension of the project's duration by 60 months. The last payment will take place on July 15, 2026. The annual interest rate has also increased to 5.5%.
2020-04-10
Future capital increase of 100k€ to be implemented in October 2020, meaning that after this increase the social capital of the company will be 600k€.
2020-03-10
Capital increase of 100.000€.
Change in the total amount of investment to 1,6M€, as well as an extension for its implementation. Already approved by the Managing Authorities of MAR2020.
2019-12-20
2019-08-18
First instalment was paid to all the investors
2019-07-10
2019-07-04