A partnership between the Abu Dhabi Investment Office (ADIO) and Pure Salmon will see the latter receive financial and non-financial incentives to ramp up the country’s sustainable food production. The company’s Abu Dhabi headquarters will manage all its production and try to steer it towards its ultimate goal of producing 260,000 tonnes of salmon per year. In addition, the agreement will see Pure Salmon establish local academic collaborations in order to boost the country's wider aquaculture expertise.
"Over the last year, Abu Dhabi’s AgTech sector has experienced exponential growth, led by rapid technological developments that are enabling sustainable agriculture and farming practices to take root in arid and desert climates. The introduction of Pure Salmon’s pioneering technology and knowledge to Abu Dhabi’s ecosystem will enhance the emirate’s aquaculture capabilities and create a hub from which new agriculture solutions can proliferate. ADIO is committed to supporting businesses aligned with our mission of advancing regional and global innovation," said Dr Tariq Bin Hendi, director-general of ADIO, according to Emirates News Agency.
Dr Shaikha Salem Al Dhaheri, secretary-general of Abu Dhabi’s Environment Agency, said: "The aquaculture sector has been identified as a priority sector for development by the Government of Abu Dhabi. In alignment with government commitment, EAD launched the sustainable aquaculture policy of Abu Dhabi Emirate in 2019 in collaboration with relevant federal and local entities. One of the key initiatives seeks to encourage economic investment in the sector, thereby reducing pressure on the UAE’s severely overexploited fisheries, providing meaningful employment and generating wealth for citizens by producing safe, wholesome and high-quality seafood products. We are excited to welcome Pure Salmon to Abu Dhabi and look forward to celebrating its sustainable impact on the aquaculture ecosystem."
Stephane Farouze, chairman and founder of 8F Asset Management, the fund behind Pure Salmon, said: "We are proud and grateful to have ADIO as a strategic partner in the development of Pure Salmon. Setting up Pure Salmon’s global headquarters in Abu Dhabi will enable the growth of a local team that will advance sustainable economic solutions and establish the UAE as an industry leader. With ADIO’s support, Pure Salmon will advance towards its goal of supplying the world with nutritious, healthy and locally produced protein."