By Ace Aquatec
Funding will create 15 jobs and accelerate development of data-driven solutions for fish farmers
Ace Aquatec, the award-winning welfare-first aquaculture technology company, has announced the successful closing of its latest investment round. The funding will directly support the creation of 15 new jobs and accelerate the company’s mission to empower fish farmers with advanced, data-driven insights that promote sustainable, ethical, and efficient operations.
The round was led by Stolt Ventures, with participation from Scottish Enterprise and Aqua-Spark, and demonstrates strong confidence in Ace Aquatec’s vision, team, and business model. This latest round was oversubscribed and incorporates a period post close to allow for further investors to participate.
The round, consisting of USD 9.96 m in equity funding plus an additional USD 3.32 m debt facility, will support the creation of 15 jobs at the company’s offices in Dundee, Glasgow and Chile. The roles will focus on the continued development of AI and its role alongside advanced sensors, cameras, and machine learning algorithms. These developments will offer real-time insights that optimize welfare from cage operations through to harvest, enhancing sustainability, and improving profitability for fish farmers. Aquamarine – Impact Capital Partners, a specialist blue economy investment banking advisory acted as lead financial advisor to Ace Aquatec.
With a strong focus on user needs, Ace Aquatec provides customers with AI cameras able to accurately track fish weights, detect health issues (such as wounds or maturation), and track individuals in multiple species. It also produces unique humane slaughter systems for farmed and wild fish using electricity in water. New sea lice removal systems, utilizing these same technologies, are being prepared for commercialization.
The newly secured capital will enable the development of cutting-edge data-driven tools that provide actionable insights to improve both fish welfare and operational performance for farmers across the globe.
Wider changes will see Axel de Mégille joining the board as a non-exec director. Axel is Head of Stolt Ventures and brings a wealth of experience from board positions at software platform Signol, to Blockchain platform WaveBL. Stolt Ventures is the corporate investment vehicle from Stolt-Nielsen, a leader in bulk liquid logistics and land-based aquaculture, with a strategy focused on efficiency and decarbonization of global supply chains.
Nathan Pyne-Carter, CEO of Ace Aquatec said:
“Our customer is at the heart of everything we do, and this investment allows us to meet the needs of farmers globally by expanding our portfolio, hiring top talent, and deepening our data capabilities.
“Having the backing of Stolt Ventures represents a pivotal moment in Ace Aquatec’s mission to revolutionize the aquaculture industry through welfare-first innovation, while providing vital employment opportunities. Stolt Ventures represents the perfect strategic fit given Stolt-Nielsen’s leading position in Stolt Sea Farm. This investment, alongside Scotland’s national development agency Scottish Enterprise, will ensure strong local support for the team which has driven, innovation and ambition to be a global player. Our incoming investors complement our existing shareholder group, particularly Aqua-Spark, who continue to provide long-term support for the business”.
Axel de Mégille, Head of Stolt Ventures said:
“This investment demonstrates our ongoing commitment to providing world-class innovative solutions to the aquaculture sector globally and we look forward to working together with the Ace Aquatec team in setting the highest welfare standards while responsibly meeting the changing needs of customers”.
Derek Shaw, Director of Entrepreneurship and Investment at Scottish Enterprise, said:
“This investment highlights our dedication to supporting the growth of ambitious businesses in Scotland. By helping these companies scale, we aim to create high-quality, high-value jobs and empower them to compete and lead in global markets. Fostering the development of companies such as Ace Aquatec is key to sustaining their success and driving future growth.”
Ace Aquatec designs products for the full fish lifecycle including their award-winning in-water electric stunners and underwater biomass cameras. With this new capital, the company plans to create 15 new roles and expand its presence in Scotland, Chile and elsewhere in South America.
About Ace Aquatec
Ace Aquatec is a cutting-edge aquaculture technology company. They partner with world-leading experts in various scientific fields to apply technological developments to aquaculture and marine industries. They design products to make fish farming more efficient and humane while protecting the environment. Their award-winning in-water electric stunners guarantee humane harvesting. Their underwater Biomass cameras provide farmers with accurate biomass of their fish as they grow helping improved feeding and harvesting. Their acoustic devices provide welfare-first sound technology to protect marine environments during offshore construction and move seals away from salmon farms.
From their head office in Dundee, Scotland, Ace Aquatec manages global R&D projects, manufacturing at two UK factories, and co-ordinates installers, engineers, and distributors of their products worldwide.
About Stolt Ventures
(www.stolt-nielsen.com/our-businesses/stolt-investments/stolt-ventures/) is a venture stage investor established to explore and invest in sustainable technologies in verticals aligned with its core business units – one of those being next generation seafood. Stolt Sea Farm (www.stoltseafarm.com) is a leader in land-based aquaculture, and the premier provider of high-quality turbot and sole, in an environmentally sound manner.
About Scottish Enterprise
(www.scottish-enterprise.com) is Scotland’s national economic development agency and a non-departmental public body of the Scottish Government. It supports businesses to innovate and scale to transform the Scottish economy by focusing on new market opportunities through targeted investment, innovation and internationalization.
About Aquamarine – Impact Capital Partners
(www.aqmcap.com) is a niche investment banking advisory that focuses on the blue economy. The firm works with early-stage businesses who are leading positive change in those key verticals underpinning the ocean, notably sustainable aquaculture & aquaculture technologies and amongst others including marine tech, maritime decarbonization and blue biotech.
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