Following development work leading to the confirmation of a fully permitted site in The Netherlands funded by AquaFounders Capital, the additional capital will enabling the company to commence broodstock import and acclimation, make its first hires, and conclude preparations for the conversion of its site.
“We are excited to take the next step in the development of The Black Cod Company with the strong support of the Province of Zeeland, and grateful for the assistance of Impuls Zeeland and the InnoGo! Fund,” said Black Cod co-founder, Ohad Maiman.
“Working to bring the first black cod broodstock in the EU is a significant milestone in building a solid land-based business case, on the basis of a high value species deployed at an otherwise import-dependant market,” said co-founder Thue Holm.
The selected site in Zeeland offers an optimal combination of clean seawater, existing permits, an existing 1,200m2 building ready to be converted to a full cycle hatchery and initial production, as well as permits for an additional 2,000m2 grow-out facility, and the right infrastructure, logistics, and specialist knowledge in aquaculture.
"From the beginning, we helped think about the location and put the company in touch with the right parties, such as governments and LNV. We also helped obtain the necessary permits," said Rogier van der Torren, foreign direct investment manager at Impuls Zeeland.
Then Impuls Zeeland's Investment team joined to guide the company through a financing process via the InnoGo! fund.
“It is precisely by investing early in the startup phase that we increase the chances of scaling up and attracting follow-up financing,” explained investment manager, Ralph Veerhoek.
