View of Soul of Japan Hatchery from the upcoming post-smolt building site, where construction begins on January 25.
Pure Salmon
The investment manager 8F Asset Management has announced the successful closing of funds to complete the construction and begin operations of Soul of Japan's land-based aquaculture facility in Japan, as well as Pure Salmon Technology.
The first close of 8F's third aquaculture fund includes institutional, sovereign, and family office investors, including both existing 8F investors and new Japanese investors.
Furthermore, Soul of Japan has secured long-term financing from a syndicate of Japanese banks led by Sumitomo Mitsui Banking Corporation. The Japan Credit Rating Agency (JCR) assigned the SU1(F) rating, the highest rating in JCR’s Sustainability Finance Evaluation category, to its financing.
Regarding this funding, the Chairman and Founder of 8F and Pure Salmon Stephane Farouze said: "The strong support from our investors, including the addition of new Japanese investors, underscores the growing need for innovative solutions to improve the sustainability of our food systems and meet the rising protein demand in Japan."
The facility will have an annual production target of 10,000 tons of Atlantic salmon and is located on a 13.7-hectare site in Tsu City, the capital of Mie Prefecture.
High-quality, fresh, antibiotic- and vaccine-free Atlantic salmon will be produced for human consumption, as well as pet nutrition made from salmon offcuts. The first harvest is expected to take place in mid-2027.