Ace Aquatec wins investment from Earth Capital
Ace Aquatec, an aquaculture technology company, has secured an undisclosed investment from cleantech investor Earth Capital to grow its current portfolio of products and markets.
ECL joins existing investors Aqua-Spark, one of the biggest blue growth investment funds, with a shared mission to move the aquaculture industry towards more healthy, sustainable, and affordable production.
The group will benefit from ECL’s experience and support with Senior Investment Manager, Bradley Jones, joining the Ace Aquatec Board.
Chris van der Kuyl is appointed chairman and Nina Santi joins the board as a non-exec director. Mr van der Kuyl is principal of existing investor, Chroma Ventures and Nina Santi is also a senior advisor at INAQ AS, a business strategy advisory firm specialising in the seafood industry.
Dundee-based Ace Aquatec has raised over £10m since its series A investment with Aqua-Spark and Chroma Ventures.
Ace Aquatec has already shown strong growth in key markets including the UK, Europe, Canada, South America, and South East Asia and will use part of this additional capital to expand its presence and distributor networks in these markets.
The investment will enable the acceleration of the firm’s development in innovative aquaculture technology solutions, including its Biomass Camera which has recently started production following successful trials.
It is designed to detect and quantify fish biomass automatically. It uses machine learning and artificial intelligence (AI) to produce accurate, real-time data on a range of fish species populations and distributions.