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Siemens invests in floating RAS technology company
August 13, 2021 By Hatchery International Staff
Siemens Project Ventures has made its first direct investment in the seafood sector to land-based aquaculture technology and supplier, Singapore Aquaculture Technologies (SAT). Through a Series A financing round, Germany-based Siemens brought up the stakes with S $9.2 million (USD $5.6 million), making the company the first institutional shareholder in the start-up.
Founded in 2012, SAT develops a unique hybrid farming concept: each farm features fully contained land-based recirculating aquaculture system (RAS) tanks on floating platforms. Each tank and floating platform can fully filter and oxygenate incoming seawater. Additionally, each platform is equipped with rainwater collection and solar panels.
In 2015, SAT launched an early small-scale pilot operation. In February 2020, the company launched its first full-scale Smart Floating Fish Farm, in which Siemens lent its automation and smart sensor technology. SAT has announced that two other farms will be launched in September.
Currently, SAT’s pilot farms produce small amounts of red snapper, barramundi, and group, but looks to focus on further research and development in predictive analysis and waste mitigation tools for farms.
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