October 29, 2022

Portuguese start-up Aquaponics Iberia combines aquaculture and hydroponics

Portuguese start-up company Aquaponics Iberia is revolutionising the food system through aquaponics, combining aquaculture and hydroponics for the cultivation of plants and aquatic animals in a recirculating water environment, Fish Information & Services reported.

Aquaponics Iberia is funded by BlueInvest, which has helped the company to set up its its Fish n' Greens project, including a state-of-the-art facility in the Torres Vedras region, close to Lisbon. The company's fully operational, high-tech aquaponics production system, a food store, a training room, guided tours for school groups and the general public, a processing unit, renewable energy sources, and the ability to produce 45 tonnes of fresh, certified fish and 130 tonnes of fresh vegetables annually are all planned to be included in this facility.

This project's distinctive sustainable ecosystem, which is perfectly in line with the Farm to Fork strategy, has the potential to increase the resilience of Europe's food chain in the event of a potential emergency. The company has plans to have units in more than 8 European cities within the next 10 years.

Aquaponics Iberia had a rocky start, encountering concerns from investors regarding the location in major cities, high rent and dependence on municipalities as well as consumer preference for saltwater fish.

The BlueInvest mentorship programme stepped in at this point to assist Aquaponics Iberia in updating and developing its business and marketing model. The company reviewed its strategy and decided to locate large facilities outside of cities while maintaining smaller food units and stores inside of them, along with consumer-viewable demonstration units.

The company eventually got to a point where it started getting more attention from government officials and potential investors thanks to this strategic review. For instance, the mayor of Torres Vedras Municipality has expressed a strong desire for Fish n' Greens to become the primary fresh food provider for the area's public school canteens (around 11,000 students).

The current issue is funding since it will take EUR 4.5 million (~US$4.4 million; EUR 1 = US$0.99) to build their first aquaponics integrated urban farm; 40% of that sum has already been raised, and the remaining 20% are in negotiations with investors.

Aquaponics Iberia would be able to implement the Fish n' Greens project and offer a solution for local, fresh, healthy, and sustainable food by combining the blue and green economies to transform food in European cities if the necessary funding could be obtained.

-      Fish Information & Services