New facility "will bring locally grown, fresh and delicious-tasting prawns to UK diners," according to Three-Sixty Aquaculture CEO James Fox-Davies.
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Three-Sixty Aquaculture, a landbased king prawn farming company which currently runs a pilot facility in Swansea, Wales, has secured £3.5 million in a Series A funding in a round led by PrimeStar Industries.
The company plans to use the funding to establish a new RAS facility to farm sushi-grade king prawns in Neath, Wales. The facility, intended to launch in 2025, will supply restaurants and hospitality, as well as direct-to-consumer markets, the company said.
“Demand for prawns is growing globally but the expansion of traditional prawn farming puts increasing pressure on the natural environment," said Three-Sixty Aquaculture CEO James Fox-Davies, in a press release. "Completing this round of funding puts us well on the way to expanding our sustainable British sushi-grade prawn farm which will not only help address these environmental issues but will bring locally grown, fresh and delicious-tasting prawns to UK diners."
"We’re starting in the UK but in reality, any country could benefit from our technology so we’re excited to explore international opportunities to build further prawn farms as we scale up," he added.
Investors in the Series A round included UK celebrity chef Marcus Wareing and public relations executive Matthew Freud.
