Sustainable fish production to meet growing demand
With the raised financing, Kingfish will increase its production capacity and meet the growing demand for Dutch Yellowtail. Phase 2 of the Zeeland facilities includes the construction of a new pumping station and a second nursery. Vincent Erenst, CEO of the Kingfish Company, emphasized the importance of this expansion and the role of the convertible loan in securing the completion of phase 2. The company aims to achieve a positive operational cash flow and sustainable profitability.
The Kingfish Company has been actively cultivating Dutch Yellowtail since 2017, known for its sustainability and high quality. Upon their arrival in Zeeland, the company was supported by Impuls Zeeland, along with the Netherlands Foreign Investment Agency, Province of Zeeland, and the municipality of Noord-Beveland.
Thanks to InnoGo!, Impuls Zeeland's innovation and financing program, Kingfish was able to initiate a part of the breeding cycle, namely the cultivation of larvae. The breeding conditions at Kingfish Zeeland are fully controllable, enabling sustainable cultivation.
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Cultivated in purified Oosterschelde water
Dutch Yellowtail is a predatory fish related to mackerel and an excellent alternative to tuna. Kingfish cultivates this fish in purified Oosterschelde water, providing them with organic feed and avoiding the use of antibiotics. Additionally, Kingfish utilizes green energy to achieve sustainable cultivation.
An investment in sustainability
The involvement of the Ocean 14 Capital Fund in this financing round underscores the significance of sustainability in the fishing industry. Ocean 14 is an impact fund that invests in daring and growth companies and technologies offering sustainable solutions for the ocean. With over 25 years of experience in the aquaculture sector, including expertise in Recirculating Aquaculture Systems (RAS) technology, Ocean 14 is a valuable addition to Kingfish's esteemed list of investors.
Future prospects and sustainable growth
Upon the completion of phase 2 in Zeeland, Kingfish will significantly increase its production capacity. The company expects the harvest volume at the Zeeland location to rise in the first quarter of 2024, with production stabilizing by 2025. This expansion will not only contribute to the growth of the Kingfish Company but also foster the further development of sustainable fish production in Zeeland.
The Kingfish Company remains committed to sustainability, innovation, and delivering high-quality fish products. With the recent financing round, the company is well-positioned to meet the growing demand for Dutch Yellowtail and continue to be a key player in the sustainable fish industry. Impuls Zeeland supports the Kingfish Company in its pursuit of sustainable growth, contributing to the economic development of Zeeland as a region for innovative and sustainable enterprises.