NEWS 84 FEED & ADDITIVE MAGAZINE May 2022 BioMar, Denmark-based global leader in sustainable aquaculture feeds, acquired AQ1 Systems, a leading producer of acoustic feeding technology for the shrimp farming industry. Following the successful entrance into the shrimp feed market, the board of BioMar approves the acquisition of Tasmania-based AQ1 Systems, the world’s leading producer of acoustic feeding technology for the shrimp farming industry. BioMar has during the last years intensified research and advisory services, embracing the complex interconnection between feed solutions, environment, and shrimp performance. In early April, yet another step was taken connecting the dots as BioMar has announced the acquisition of AQ1. AQ1 will continue as an independent company with its own commercial set-up, business systems, and distribution channels, servicing both BioMar customers and customers with other feed providers. Existing AQ1 customers will not experience any changes to their service and agreements with AQ1. Ross Dodd will continue heading AQ1 after the acquisition. Strengthening the core feed business with innovative tech solutions, launches a new chapter in the journey of BioMar. The aim is to create new synergies between farming technologies and feed solutions. BioMar acquires intelligent feeding technology AQ1 Systems As consumers’ interest in the environment and nutrition rises, foodtech companies join the race to invent meat alternatives. In 2021, alternative seafood companies received $175 million in investment globally, increasing 92% from 2020. A South Korean startup called CellMEAT, which develops cell-based shrimp, has secured $8.1 million (10 billion KRW) Series A funding to compete with 120 companies around the world that produce alternative seafood. The new round of funding, which brings its total raised to $14.1 million, will help CellMEAT continue the research and development of its labgrown shrimp, ramp up pilot production of its prototype shrimp to 10 kilograms per day from 5 kilograms and expand its offerings to other cultivated seafood, including crustaceans like lobsters and crabs, CellMEAT co-founder and CEO Giljun Park said in an interview with TechCrunch. CellMEAT intends to enter Singapore, the only country to approve alternative meat products for sale. It aims to commercialize its cultivated shrimps as early as 2023, targeting B2B and B2C consumers, Park continued. CellMEAT is also eyeing the U.S. after entering Asian countries, Park noted. South Korean lab-grown shrimp producer CellMEAT bags $8.1M Series A funding
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