Jordi Trias (right), President of Stolt Sea Farm, with Nathan Pyne-Carter, CEO of Ace Aquatec (left).
Ace Aquatec
Aquaculture technology company Ace Aquatec has successfully closed its latest investment round, consisting of £7.5 million in equity funding plus an additional £2.5 million debt facility, which will enable the creation of 15 jobs at the company’s offices in Dundee, Glasgow, and Chile.
The specialist blue economy investment banking firm, Aquamarine - Impact Capital Partners, acted as the lead financial advisor to the Scottish company. Also, Scotland’s national development agency, Scottish Enterprise, has participated in this initiative.
The new team members will focus on working with artificial intelligence (AI) and its application alongside advanced sensors, cameras, and machine learning algorithms to improve operations from cage management through to harvest.
Additionally, Axel de Mégille, who has served on the boards of platforms such as the software company Signol and the blockchain platform WaveBL, is joining the board of directors as a non-executive director. De Mégille is Head of Stolt Ventures, the corporate investment arm of Stolt-Nielsen, a leader in bulk liquid logistics and land-based aquaculture.
"This investment demonstrates our ongoing commitment to providing world-class innovative solutions to the aquaculture sector globally, and we look forward to working together with the Ace Aquatec team in setting the highest welfare standards while responsibly meeting the changing needs of customers," he expressed.
Additionally, Ace Aquatec CEO Nathan Pyne-Carter said: "Having the backing of Stolt Ventures represents a pivotal moment in Ace Aquatec’s mission to revolutionise the aquaculture industry through welfare-first innovation, while providing vital employment opportunities. Stolt Ventures represents the perfect strategic fit given Stolt-Nielsen's leading position in Stolt Sea Farm."
Finally, Director of Entrepreneurship and Investment at Scottish Enterprise, Derek Shaw, concluded: "This investment highlights our dedication to supporting the growth of ambitious businesses in Scotland. By helping these companies scale, we aim to create high-quality, high-value jobs and empower them to compete and lead in global markets. Fostering the development of companies such as Ace Aquatec is key to sustaining their success and driving future growth."
