Finnforel signs Abu Dhabi deal
Finnish aquaculture business Finnforel could be growing its rainbow trout in the Middle East following a deal with an Abu Dhabi-based investment company.
Finnforel and the investment and holding company ADQ have agreed to work together to investigate the possibility of constructing a RAS (recirculating aquaculture systems) plant strategically located within a dedicated zone for aquaculture and related industries owned by KEZAD (Khalifa Economic Zones Abu Dhabi.
The RAS plant, if it goes ahead, would have a capacity of at least 3,000 tonnes.
A joint statement from Finnforel and ADQ said: “Upon satisfactory conclusion of the feasibility stage, the development of the fish farming facility would mark the inaugural large-scale implementation of recirculating aquaculture systems in the UAE [United Arab Emirates], representing a significant milestone for the food and agriculture sector. The facility will be modelled after Finnforel’s unique indoor aquaculture concept.”
ADQ is an investment company with a range of interests including energy, agriculture and healthcare. It is described as a “strategic partner” of the government of Abu Dhabi.
Mansour AlMulla, Deputy Group Chief Executive Officer at ADQ, said: “Our collaboration with Finnforel exemplifies our commitment to harnessing state-of-the-art technology to facilitate the expansion of local food production capabilities. With imports currently catering to the vast majority of the demand for protein in the UAE, our focus is to work towards closing supply gaps by introducing a new way of cultivating high-quality seafood that is cherished for its nutritional value.”
Pekka A. Viljakainen, Co-Founder and Chief Executive Officer of Finnforel Group, added: “The current global realities are heightening our awareness of the critical importance of food security. In the foreseeable future, it will become imperative for every nation to ensure the local production of most of their consumed food, including fresh fish.
“Finnforel’s mission is to build a network of local facilities based on our tried-and-tested vertically integrated concept; an endeavour which must be pursued sustainably and with environmental responsibility. It is a tremendous honour for Finnforel to embark on this exciting journey of prospective growth with ADQ.”
Viljakainen said local people would be trained to operate the RAS plant.
Founded in 2015, Finnforel is an innovative aquaculture technology company that currently operates two recirculating aquaculture systems facilities in Finland with a total production volume of 3,000 tonnes of rainbow trout per year.
The company says its high degree of vertical integration from hatchery to farming and packaging, achieves significant efficiency and scale. The so-called “Gigafactory” borrows from the concept of Tesla’s approach, with as much of the supply chain as possible under one roof. Finnforel has said it is seeking to multiply its capacity through global expansion.
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