August 25, 2023

 

Remora Robotics secures US$2.7 million investment to propel aquaculture automation

 

Norway-based Remora Robotics, a company specialising in aquaculture robotics, has announced a successful EUR 2.5 million (~US$2.7 million; EUR 1 = US$1.10) funding round, which will be used to advance the company's autonomous net cleaning technology, EU-Startups reported.

 

Grieg Kapital and Momentum, prominent investment firms in the industry, have led this funding effort. This infusion of funds is poised to accelerate the company's technological evolution and bolster its sales expansion initiatives.

 

Brage C. Amundsen, chief executive officer of Remora Robotics, said that the support from Grieg Kapital and Momentum grants Remora Robotics the vital flexibility to execute their plans and deliver impeccable net cleanliness to their valued clients.

 

He said this injection of capital empowers the company to expedite the deployment of their technology, enhancing their capacity to expand their sales efforts.

 

Founded in 2015, Remora Robotics stands at the forefront of automating fish farm pen cleaning processes. Central to its technological advancement is an autonomous submarine robot, specifically designed to methodically clean and assess fish farming enclosures, all while gathering crucial data about the aquatic ecosystem.

 

Lars Jorgen Loktu, investment manager at Grieg Kapital, said that Remora Robotics has developed innovative and compelling technology tailored for a global market. This investment perfectly aligns with Grieg Kapital's investment strategy, which emphasises maritime technology.

 

Remora Robotics has established strategic partnerships with prestigious research organisations in Norway, including SINTEF, the Norwegian Research Council, NTNU, and Innovation Norway. In 2017, the company conceptualised an autonomous marine version of the robotic lawnmower to revolutionise net cleaning in aquafarms. Leveraging their expertise in remotely operated vehicles (ROVs), Remora Robotics embarked on this transformative journey.

 

Christian Mogster, investment manager at Momentum, expressed confidence in Remora Robotics' team and their potential for a successful large-scale commercial rollout.

 

After an initial prototype faced challenges in 2018 and was subsequently abandoned, the company persisted in refining the technology and making significant progress. By 2019, Remora Robotics successfully tested a functional prototype, with its effectiveness in cleansing fish farming enclosures further confirmed by a comprehensive NORCE report. This achievement culminated in the acquisition of a patent for the innovative belt mechanism.

 

With a focus on continuous improvement, the company diligently developed an upgraded prototype in 2020. Collaborating with Sterling White Halibut AS, Remora Robotics subjected the technology to rigorous testing, optimizing it for practical implementation. The year 2021 marked a pivotal milestone as the company manufactured three specialised devices tailored for comprehensive testing and further advancements.

 

-      EU-Startups