MSD
WAS
CARGILL
Cargill Empyreal75
REEF
ISFNF
ISFNF
GLOBAL LEADERS
USD 211 million to fund new Pure Salmon's land-based salmon RASs

USD 211 million to fund new Pure Salmon‘s land-based salmon RASs

MSD
WAS
CARGILL
Cargill Empyreal75
REEF
ISFNF
ISFNF
GLOBAL LEADERS

Visitas: 181

Aquaculture Magazine reports:

The facility was designed to be the largest land-based salmon farm in Asia

Soul of Japan (SOJ), a leading operator in the Japanese aquaculture industry, has recently announced the successful signing of a JPY 33 billion (equivalent to USD 210 million) long-term debt facility provided by Sumitomo Mitsui Banking Corporation (SMBC) to the GK Mie RAS Atlantic Salmon Project. The financing will support the construction and development of a state-of-the-art recirculating aquaculture system (RAS) Atlantic salmon production, processing and pet nutrition facility in Tsu City.

The facility, designed to be the largest land-based salmon farm in Asia, will produce 10,000 tons of Atlantic Salmon annually and will be housed in a total of 70,000 m2 of building space, spanning over a 137,000 m2 plot. SOJ is partnering with Pure Salmon Technology to implement cutting-edge RAS technology, ensuring high-quality salmon production.

Erol Emed, CEO of SOJ, expressed his gratitude for the support from SMBC and 8F: “This debt financing allows us to accelerate our growth and contribute to Japan’s food security while minimizing our environmental footprint. We are committed to delivering high-quality, locally produced salmon to consumers.”

The transaction is supported by 8F Asset Management, a global asset manager of private equity funds that own the Pure Salmon Group.

Easy distribution to most populous Japanese cities

Tsu City, located in the Mie Prefecture, is at an optimal distance from Tokyo, Nagoya, and Osaka, allowing easy distribution to Japan’s most populous cities and centers of salmon consumption.

After the announcement, Karim Ghannam, Chief Investment Officer at 8F Asset Management commented: “We are excited to work with SMBC, the banking group and the management teams of SOJ and Pure Salmon to facilitate this transaction that recognizes the importance of sustainable aquaculture and its positive impact on Japan’s economy and the environment.”

Three partners

Established in 2018, Soul of Japan is an affiliate of Pure Salmon Group, which is an aquaculture company for Atlantic salmon using Recirculating Aquaculture Systems (RAS) technology. Soul of Japan is the operator of a 10,000 tons per annum land-based salmon aquaculture project located in Mie Prefecture, Japan.

8F Asset Management manages private equity funds that invest in vertically integrated aquaculture production and processing facilities, using land-based sustainable RAS technology, creating material positive social and environmental impact. 8F Asset Management has offices in Singapore, Abu Dhabi, Hong Kong and Frankfurt.

Pure Salmon is a global operating company headquartered in Abu Dhabi and specializes in developing and operating vertically integrated land-based aquaculture facilities using RAS technology. Pure Salmon Technology, another member of the Pure Salmon Group, is a specialist within water treatment and has been a major contributor in revolutionizing land-based fish farming during the last 20 years, continuously focusing on fish welfare. Pure Salmon Group has offices in Abu Dhabi, Norway, Denmark and Singapore.

New certification

Some weeks before announcing the news, Pure Salmon Technology achieved its ISO 9001 certification. “This prestigious certification is a testament to our commitment to quality and customer satisfaction,” they said in that moment.

For them: “Our dedication to continuously improving our business processes ensures the highest standards in all that we do. The certification provides a strong basis for our continued efforts in supporting the long-term development of sustainable aquaculture.”

MSD
WAS
CARGILL
Cargill Empyreal75
REEF
ISFNF
ISFNF
GLOBAL LEADERS

Leave a comment

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *