Poseidon Ocean Systems Raises Funds To Accelerate Development Of Sustainable Aquaculture Technologies

Poseidon Ocean Systems, a Canadian company specializing in the development  of salmon farming infrastructure and life support systems, announced today that it has raised CAD$5  million in Series A financing. The investment in the growing aquaculture company will help fuel  engineering and delivery of new proprietary technologies to market.

Information source: Poseidon Ocean Systems / press release

The financing is led by Ag Capital Canada (ACC), a private equity fund based in Tillsonburg, Ontario, with  additional follow-on investment from Export Development Canada (EDC). 

Over the past two years, Poseidon has introduced two key aquaculture innovations, both with a focus of  improving quality and safety of salmon farming operations.  

The first, the Trident Hybrid ™ Steel Cage System, is a breakthrough in floating steel structure design. It’s  advanced safety, strength, and stability features allow fish farmers to operate confidently in higher  energy locations. It’s forward-thinking design also allows for seamless transition to advanced  technologies such as rigid nets and floating closed containment without the need to invest in new  structures.  

The second, the Flowpressor™ compressor system, is the company’s first step at sharply reducing energy  consumption and lowering the carbon footprint of off-grid fish farming systems. The Flowpressor was  designed to improve water quality while reducing diesel fuel consumption by up to 56%. Paired with Poseidon’s IOT firmware, the system offers farmers significant additional operational advancements.  

“We can lower capital costs, shrink equipment space requirements and drive higher profits for our  customers around the world, while also delivering environmental returns for the planet.” explained  Rick Segal, CEO of Poseidon Ocean Systems. “That’s the operational and financial advancements of  integrating Poseidon’s engineering, mechanical, and software systems.”  

“We were able to check all the boxes with this investment,” said John Lansink, Managing Partner at Ag  Capital Canada. “We are impressed by Poseidon’s technologies and management team. The company is  in a growth position, ready to capitalize on a macro trend to meet global protein demand. Poseidon’s  systems can cut operating costs and improve efficiency for the industry – and create healthier fish.” 

“The Poseidon leadership team brought their technologies to market amazingly quickly. Their culture of  collaboration with stakeholders, commitment to developing their products within Canada and strong 

relationships with global customers and partners were key factors driving us toward closing this  partnership agreement,” stated Lansink.  

Poseidon’s leadership team is comprised of Rick Segal, a Microsoft and Samsung alum, as well as co founders Heather and Mathew Clarke. 

“Ag Capital Canada was the perfect choice to lead our Series A, as they are focused on food production  in Canada, the advancement of ag technologies and entrepreneurship,” said Heather Clarke, CFO and  Co-Founder of Poseidon. “The Partners bring a wealth of hands-on experience, particularly in  agricultural systems deployment – and they are fully Canadian.”  

Further information: https://www.poseidonos.com/

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