October 29, 2024

 

Mitsubishi invests in Finnish aquaculture firm Finnforel

Mitsubishi Corporation, a major Japanese conglomerate with diverse industrial interests, has invested in the Finnish aquaculture technology company Finnforel, Fish Farmer reported.

 

While the exact amount of Mitsubishi's investment was not disclosed, the move marks a strategic partnership aimed at sustainable fish production. Mitsubishi already holds ownership of salmon farming group Cermaq, with operations across Norway, Chile, Scotland, and Canada.

 

Finnforel is an agritech company known for its innovative approach to sustainable aquaculture, particularly in farming rainbow trout. The company has developed a comprehensive value chain model that includes selective breeding, feed, farming, processing, packaging, and branding of fish products.

 

According to Finnforel, Mitsubishi's investment will help drive a sustainable and efficient approach to local fish production, providing significant benefits to food security. The company's unique Gigafactory concept integrates fish farming and processing into a single, eco-friendly facility that enables large-scale, sustainable production.

 

In a statement, Finnforel noted that Mitsubishi's support would allow the company to further develop its recirculating aquaculture systems (RAS) for farming rainbow trout. The RAS technology uses biofiltration to control key environmental factors, ensuring stable indoor conditions that enable fish farming year-round. This closed-loop system recirculates water, minimises wastewater, and aims for zero biowaste.

 

"Recirculating aquaculture systems enable consistent fish production regardless of external environmental conditions," the statement explained. "This method not only promotes year-round farming but also ensures minimum waste and maximum water efficiency."

 

Finnforel's Gigafactory model also includes on-site fish processing and packaging, reducing the number of intermediaries in the supply chain and cutting transportation times, which enhances product freshness and lowers costs for consumers.

 

The company added that the model supports local food systems and reduces carbon emissions related to long-distance fish transport.

 

Pekka A Viljakainen, co-Founder and CEO of Finnforel Group, expressed his enthusiasm for the partnership, saying, "Finnforel's mission is to save the seas and feed the planet. Achieving this requires strategic partners like Mitsubishi, who bring global distribution capabilities, expertise, and resources."

 

He added, "Recirculating aquaculture systems will be key to enhancing food security by enabling efficient, sustainable fish production that keeps excess nutrition and waste out of the seas. With our Gigafactory's zero-waste policy, we're ready to bring this solution to regions close to consumers. We are proud to have Mitsubishi join us in this journey."

 

-      Fish Farmer