Ace Aquatec Secures £10 Million Investment to Fuel Growth and Expand Internationally

Funding will create 15 new jobs and accelerate the development of data-driven solutions for fish farmers.

Ace Aquatec, a leader in welfare-first aquaculture technology, has announced the successful closure of its latest funding round, which has raised £10 million. This significant investment aims to empower fish farmers through advanced data-driven insights, promoting sustainable, ethical, and efficient practices.

Investment Round Details

The investment round was spearheaded by Stolt Ventures, with notable contributions from Scottish Enterprise and Aqua-Spark. The fact that the round was oversubscribed underscores the strong faith in Ace Aquatec’s vision, leadership, and business model. The funding comprises £7.5 million in equity and an additional £2.5 million in debt financing.

Job Creation and Technological Advancements

The newly acquired capital will facilitate the creation of 15 positions at Ace Aquatec’s offices located in Dundee, Glasgow, and Chile. These roles will be crucial for advancing artificial intelligence (AI) technologies alongside sophisticated sensors, cameras, and machine learning algorithms. Such innovations promise to deliver real-time insights, enhancing fish welfare from cage operations to harvest while bolstering sustainability and improving profitability for fish farmers.

Innovative Solutions for Fish Welfare

Ace Aquatec focuses on user-centered design, offering AI cameras that accurately track fish weights, identify health concerns, and monitor various species. The company has also developed humane slaughter systems for farmed and wild fish, utilizing electrical stunning in water. Moreover, new sea lice removal systems, built on these technologies, are on the brink of commercialization.

Changes in Leadership

In tandem with this investment, Axel de Mégille has been appointed to the board as a non-executive director. As the Head of Stolt Ventures, he brings considerable experience from various board roles, including positions at software platform Signol and blockchain company WaveBL. Stolt Ventures, the corporate investment arm of Stolt-Nielsen, is committed to enhancing efficiency and decarbonizing global supply chains.

Statements from Leadership

Nathan Pyne-Carter, CEO of Ace Aquatec, stated:

“Our customer is at the heart of everything we do. This investment allows us to meet the needs of farmers worldwide by expanding our portfolio, attracting top talent, and enhancing our data capabilities. The backing from Stolt Ventures marks a significant milestone in our mission to transform the aquaculture industry through welfare-first innovation while creating vital job opportunities. Their strategic presence aligns perfectly with our goals, leveraging Stolt-Nielsen’s leadership in Stolt Sea Farm as we aim for global impact.”

Axel de Mégille commented:

“This investment reflects our ongoing commitment to delivering world-class, innovative solutions to the aquaculture sector on a global scale. We are excited to partner with Ace Aquatec to establish the highest welfare standards while adapting to the evolving needs of customers.”

Derek Shaw, Director of Entrepreneurship and Investment at Scottish Enterprise, added:

“This investment underscores our commitment to nurturing ambitious businesses in Scotland. By facilitating their growth, we aim to create high-quality jobs and empower them to compete in global markets. Supporting companies like Ace Aquatec is vital for sustained success and future expansion.”

The Future of Ace Aquatec

Ace Aquatec specializes in products designed for the entire fish lifecycle, including award-winning in-water electric stunners and underwater biomass cameras. With the new funding, the company aims to fortify its presence in Scotland, Chile, and other parts of South America, ultimately positioning itself as a leader in the aquaculture technology space.