December 12, 2017
Neovia invests US$1.5 Million in AquiNovo
Neovia, a world leader in animal nutrition and health, has invested an aggregate of US$1.5 million in AquiNovo Ltd, an Israeli company that develops solutions to improve farmed fish development to meet the ever-growing demand for fish protein.
The partnership between the two companies aims to develop new technologies and meet aquaculture market expectations.
Aquaculture is a fast-growing market with increasing economic opportunities accompanying the increase in the world's population, particularly in Africa, Asia, and Latin America. Rising standards of living is estimated to result in a 60% increase in world production of animal proteins by 2040.
Considering that the aquaculture industry today needs sustainable solutions that provide higher yield but lower production costs and reduced exposure to risks associated with longer growth periods, Neovia has defined "intensive aquaculture" as one of its five global priority innovation fields, implementing a holistic approach in innovative solutions for aquaculture.
Similarly, AquiNovo's technology addresses this challenge by developing solutions to improve farmed fish development. The company offers a non-GMO, non-hormonal, easy-to-use solution to be incorporated into the fish feed, providing hatcheries and fish farms with shorter time to market and additional growth cycles within existing infrastructure.
"We believe that AquiNovo's technology will make a real difference for fish farmers worldwide. The combination of fish yield enhancement, with reduced exposure to risks associated with longer growth periods, will significantly contribute to risk management and revenues for fish farmers", said Dr. Nissim Chen, CEO of AquiNovo, a portfolio company of The Trendlines Group.
"Neovia's investment affirms their confidence in the company, its vision and its achievements to date. We're excited to work with Neovia on the development of innovative solutions for the aquaculture market".
Hubert de Roquefeuil, Neovia president, for his part, said, "Intensive aquaculture ranks among our five major innovation fields and we are very interested in collaborating with a recognised partner such as AquiNovo. Our strong position in the international aquaculture market, especially in tilapia, will deeply benefit from this differentiating and innovative technology".