Oceano Fresco flat oyster II

Oceano Fresco is a shellfish aquaculture company that aims to feed the world sustainably.

This is the promotor's 22nd Goparity campaign.

This campaign aims to finance the company's expansion to a new species (Ostrea edulis) that they will farm in Oceano Frescos' sites and to develop innovative farming systems. It marks the first time ever that Oceano Fresco has expanded to a new species, in this case, the original European oyster native species. 

Following a successful farming and commercial test, the promoter will now invest in a large-scale first harvest of this new species:

• Set up strategic partnerships with various external hatcheries in Portugal and abroad to purchase hatchery-born seed and to test and monitor its performance in their different production phases and systems to ensure good genetic fit with our nursery and farm environments.
• Acquisition and setup of new farming equipment (holding units and mesh bags), to enable a significant production biomass increase and also to pilot test alternative farming systems to confirm the best cost/benefit advantages.
• Research & Development efforts to create a proprietary oyster farming unit innovation that best fits the open sea farm environment, including a phased pilot test with a several iterations approach to the co-development. This will become Oceano Fresco’s intellectual property.
• Commercial study, to identify best markets and prospect customers in Europe for selling our large-scale flat oyster (Ostrea edulis) production, with year-on-year growth plans.
• Feasibility study for future CAPEX oyster farming investments, to enable future expansion plans and also year-on-year productivity improvements.
• Product testing to confirm all Quality Control requirements, including nutrition facts and product certifications.

This is the promoter's second campaign towards these goals, after successfully raising 350.000€ in Oceano Fresco flat oyster.

Ostrea edulis is the original European oyster. Unfortunately, its population has declined significantly due to overfishing, disease, and habitat loss. According to FAO, a massive mortality struck European flat oyster populations in 1920. Then, two diseases (Marteilia refringens and Bonamia ostrea) spread in the early 1970s and 1980s, drastically reducing the production of Ostrea edulis in almost all European traditional rearing areas.

Today, the production of the European flat oyster is scarce, as most oyster producers in Europe focus on the invasive species, the Pacific cupped oyster (Crassostrea gigas). France is the biggest producer of flat oyster in Europe, with approximately 2.000 tons per year of adult size, mainly concentrated in Brittany, in the bays of Cancale and Quiberon, according to IFREMER. The flat oysters cultivated in Brittany are named “Belon” due to the proximity of the Belon river and enjoy a reputation for excellence.

Oceano Fresco's flat oysters have a unique and intense flavour. This flavour is often described as bold, briny, and mineral-rich, with a slightly metallic or earthy aftertaste. Their texture is slightly firmer than that of other oysters. Flat oysters (Ostrea edulis) are visibly different from the Pacific cupped oyster (Crassostrea gigas). The shells are typically smaller, rounder and flatter, in contrast to the Pacific cupped oyster, which is more elongated and irregularly shaped. The flat oyster is an Atlantic species, so it naturally fits well with our open-sea farm environment.

The company has raised 4.800 million euros through Goparity's investor community since its first campaign in January 2020:

• The amount raised in Oceano Fresco I, II, III, IV, V, and VI campaigns (730.000€) was used to co-finance the installation of the world's first open sea clam farm in Lagos, Algarve. The clams are suspended in the open sea, where they can grow sustainably in their natural environment.
• The amount raised in Oceano Fresco Innovation I, II, and III campaigns (500.000€) was used to co-finance two research and development (R&D) projects focused on the cultivation of clams and one project in the area of food innovation. The R&D projects in the areas of genetics and pathology are highly innovative worldwide, leading to two incentives totaling 2.0 million. The food innovation project aims to develop new products and packaging to create value and promote sustainable clam consumption.
• The amount raised in has Oceano Fresco Growth I, II, III, and IV campaigns (1.000.000€) was used for cultivation, operations, sales, marketing, and R&D. The Growth series meant to finance projects that enhance the growth of the company's production to enter the market with a larger sales scale.
• The amount raised on Oceano Fresco Farm I, II, and III (750.000€) was used to continue financing projects that enhance and grow the company's production.
• The amount raised in Bivalves Hatchery I , II and III (1.180.000€) was used to increase the production and consistency of seeds throughout the year, including cultivation of microalgae, the sole food source for bivalves.
• The 300.000€ raise in Oceano Fresco Nursery was used to install and trial a new intermediate production phase and site, to create scale for its seed production.
• The amount raised in Oceano Fresco flat oyster (350.000€), which is the foundation for this campaign.