Ace Aquatec secures £10m in equity and debt funding led by Stolt Ventures to scale its aquaculture technology.
The oversubscribed round was led by Stolt Ventures with backing from Scottish Enterprise and Aqua-Spark.
Ace Aquatec develops welfare-first aquaculture technology for fish farmers, including humane stunning systems and biomass cameras. The company works to improve operational efficiency and animal welfare across the sector.
Dundee-based aquaculture technology company Ace Aquatec has secured £10m in a funding round led by Stolt Ventures, with participation from Scottish Enterprise and Aqua-Spark. The capital comprises £7.5m in equity and a £2.5m debt facility, and will be used to fund the creation of 15 new jobs and accelerate the development of data-driven aquaculture solutions. Aquamarine, Impact Capital Partners served as the lead financial advisor for the transaction.
The fresh capital will support the company as it expands its operations in Scotland and Chile. The funding will also drive the commercialisation of new sea lice removal systems and advance the integration of artificial intelligence and machine learning into its existing product suite, which includes biomass cameras and humane electric stunners.
From the founder
"Our customer is at the heart of everything we do, and this investment allows us to meet the needs of farmers globally by expanding our portfolio, hiring top talent, and deepening our data capabilities. 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. This investment, alongside Scotland’s national development agency Scottish Enterprise, will ensure strong local support for the team which has drive, innovation and ambition to be a global player. Our incoming investors complement our existing shareholder group, particularly Aqua-Spark, who continue to provide long-term support for the business"
Nathan Pyne-Carter
CEO at Ace Aquatec
Investor perspective
"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"
Axel de Mégille
Head of Stolt Ventures, Stolt Ventures
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
Categories
About the company
Ace Aquatec
Ace Aquatec designs welfare-first technology and humane slaughter systems for the aquaculture sector.