"Many things can go wrong, and the process is extremely complicated, so when it finally succeeds, the excitement indeed shows on our faces," tells us co-founder Ohad Maiman, on the left of the photo in which he appears with Head of Production, Luuk van der Heijden.
Photo: The Black Cod Company.
"The Black Cod has landed in Europe!" This is how The Black Cod Company announced the major milestone that the arrival of the first fingerlings from the United States represents for the new venture of land-based aquaculture pioneers Ohad Maiman and Thue Holm.
Native to the North Pacific Ocean, for the sourcing of black cod—Maiman explains to WeAreAquaculture—the firm established a subsidiary in the U.S. About a year ago, this subsidiary hired fishermen from the West Coast to capture wild broodstock and, since then, has kept and spawned them there, intending to transition to its own Netherlands-based hatchery.
As this was a first trial, they only sent 160 fingerlings, but given the success—they have achieved 100% survival during transport—the company will now continue to send significant quantities in the short term, as well as broodstock for the establishment of a full-cycle hatchery in the Netherlands.
The milestone not just marks the arrival of black cod—also known as sablefish or butterfish—at The Black Cod Company's facility in Kamperland, Zeeland, the Netherlands, but it is also the first-ever arrival and farming of black cod in the EU.
"If it was easy everyone would do it, but we are now well on our way with an exceptional aquaculture business case trifecta: one of the highest value species, well suited for RAS land based farming, deployed at an import dependent market," the company wrote on its LinkedIn announcement.
Native to the North Pacific Ocean, the fingerlings have arrived at The Black Cod Company hatchery in the Netherlands from the U.S.
Photo: The Black Cod Company.
Back in October 2024, shortly after Maiman and Holm confirmed that they would establish their land-based facility in Kamperland, in an exclusive interview with WeAreAquaculture, the former was convinced that black cod, like yellowtail kingfish—he is the founder and former CEO of The Kingfish Company—has significant potential beyond Asian cuisine.
"We still have the conviction that the best use of RAS or land-based technology is to aim for this trifecta of high value species that works well in RAS, deployed in an area where it's not otherwise available," he said, explaining why he and his partner, Thue Holm, had selected black cod for their new farming venture.
Speaking again to WeAreAquaculture, Maiman now says that the species meets what they consider the critical trifecta for a land-based farming business case: it is well suited for RAS farming, fully import dependent in the EU, and one of the highest value species—approximately five times the market price of Salmon, he notes.
"These three factors create the conditions for a profitable RAS farming operation," The Black Cod Company co-founder claims.
The entrepreneur, who shared the milestone on his LinkedIn profile, saying he was excited to see The Black Cod Company taking shape with one of the highest value import-dependent species in the sector, also tells us that it is important to note that while it has "cod" in its name, it is a different species from cod.
As he explains, the species has been popularized in premium dining by chef Nobu Matsuhisa's signature dish, the 'Black Cod Miso'. Consisting of fillets of this fish marinated in a sweet mixture of sake, mirin and miso, and grilled to achieve a perfect caramelized crust, this is one of the most imitated recipes in the world.
Thus, Maiman continues his explanation by saying that the fact that it is a high-value species enables profitability with an expensive RAS operation.
"Becoming the only EU farmer gives us a unique local fresh selling proposition to a high-end restaurant market that has been importing it mostly frozen from North America for many years," he highlights.
The site in Kamperland sits directly on the water near an estuary's opening to the North Sea, providing clean seawater to the black cod facility.
Photo: The Black Cod Company.
As mentioned above, behind The Black Cod Company is not only Ohad Maiman, but also Thue Holm, co-founder and former CTO of Florida land-based salmon firm Atlantic Sapphire. Three years ago, some time after resigning from their previous positions, these two entrepreneurial-minded businessmen embarked together on a new company and founded Aquafounders Capital.
While initially considering a venture capital route, they finally decided to turn it into a development platform focused on building new companies. The Black Cod Company is the second one they presented, after launching Farm in a Box, a plug-and-play solution for land-based fish farming that, last February, announced its first market-ready product.
Therefore, from both a breeding and a technological point of view, The Black Cod Company is backed by a team with years of experience, allowing it to face the challenging hatchery phase in black cod with confidence.
"We have spent three years perfecting the protocols and have first-hand know-how in our founding team, so while it is not easy, it also serves as a moat against competition," Maiman states. With this first batch, they will have some test harvesting within a year and expect full steady state output within two years.
According to him, the next major milestone they face is the ongoing fundraising effort to convert the existing building into an initial 50-ton/year production facility with a full-cycle hatchery. That will be the first phase; in a second phase, they will target 400 tons.
Meanwhile, the company—which in February received European funding to continue its startup—has already obtained permits for an expansion at the site that will allow it to increase capacity to 4,300 tons/year as the next step.
While all that is happening, both Maiman and Holm are enjoying the unique feeling that, for entrepreneurs like them, comes with first times.
"Cannot wait to we get to show what a great fish black cod is and how much potential it holds. So great to have fish in the system," Thue Holm wrote on his LinkedIn profile.
"Very few moments top that feeling of getting the first fish at a farm," Maiman tells WeAreAquaculture now. In this case, furthermore, and as far as is known, the first ever black cod in Europe.
