Transaction led by Creadev and existing investors
Noray Seafood will invest €16 million to accelerate its expansion plans of sustainable indoor shrimp farming in Spain. This transaction is led by Creadev Food & Ag with SWEN Blue Ocean, Stellar Impact and existing investors. In particular, this inversion is for its facility in Medina del Campo, about 1.5 hours north of Madrid, Spain.
The indoor aquaculture company uses microbial technology to develop its indoor shrimp farming performance. The process includes creating a controlled bacterial culture environment for its shrimp. Thereby, they thrive with a highly efficient operating- and capital expenditure profile. Also, this method recycles 100% of all water use. Besides it is free of any antibiotics or chemicals and directly addresses the challenges of conventional shrimp sources.
Finally, Noray agglutinates full production process. From hatchery to harvesting at the same site, ensuring an ultra-fresh product so the travel is as short as possible. This, does not require a massive upfront investment, the company confirmed in the press release.
Furthermore, the company has received the ASC certification as the first and only indoor shrimp farm in the world, meeting the highest standards of sustainability. While the annual International Taste Institutes’ Superior Taste Award has awarded its ultra-fresh raw product with the highest possible score.