Soul of Japan will benefit from the world’s most advanced, sustainable and environmentally friendly aquaculture solution.(Photo: Pure Salmon)
USD 162m planned to be invested in fully integrated salmon farm construction
Friday, October 26, 2018, 00:10 (GMT + 9)
An asset management firm is planning to invest USD 162 million in the construction of a fully integrated recirculation aquaculture system (RAS) salmon farm, with hatchery, grow-out and processing facilities.
The centre, to be called the Soul of Japan, is designed to begin being built in 2019 in Tsu City, Mie prefecture, and to become operational in 2021, with the first products being available from 2022, SalmonBusiness reported.
The initiative is aimed to produce about 10,000 tons per year to process fillets for the growing Japanese market for sushi and sashimi products.
Centralized equipment in AquaMaof Indoor RAS. (Photo: AquaMaof)
Behind the project is 8F Asset Management Pte, based and regulated in Singapore, which manages an aquaculture private equity fund investing purely in land-based RAS Atlantic salmon farms.
8F also created Pure Salmon to manage RAS projects. In Japan, Pure Salmon is to be known as Soul of Japan, the same company that will operate the new integrated centre.
Proprietary technology from Israeli firm AquaMaof Aquaculture Technologies will be employed in the RAS facilities.
“The project is a major step in our global mission to reduce reliance on sea-farmed salmon and offer a healthier, more environmentally-friendly option,” pointed out Martin Fothergill, Partner of 8F.
8F is focused on the management of funds that own Pure Salmon, a global vertically integrated Atlantic salmon company, which uses innovative and sustainable land based RAS technology to produce fresh, sustainable and healthy Atlantic salmon locally for local consumers. (Photo: 8F)
Erol Emed, CEO of Soul of Japan, added that he was extremely excited about the project: “The location is an optimum distance from Tokyo, Nagoya and Osaka and will allow us to deliver clean, fresh, sustainable and locally produced premium Atlantic Salmon to our customers.”
Soul of Japan will be majority owned by 8F’s private equity fund, which will also own a 50 per cent share in a 580 tons/year production capacity in the AquaMaof RAS facility in Poland.
“We see Asia as very strategic market for us, where there is a great demand for RAS-based facilities for the production of salmon and other species. “Soul of Japan” is not the only project we are involved in in Asia. We have several additional projects in different stages,” concluded Shai Silbermann, VP Marketing of AquaMaof.