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Three-Sixty Aquaculture secures $4.4M to scale prawn RAS farm
December 13, 2024 By RAStech staff
Three-Sixty Aquaculture secures US$ 4.4 million to scale prawn farming. (Photo: Three-Sixty Aquaculture, LinkedIn ) Three-Sixty Aquaculture, a U.K. sushi-grade prawn farm, has raised £3.5m (US$ 4.4 million) in a Series A funding round.
The funding was led by PrimeStar Industries, with participation from investors including Marcus Wareing and Matthew Freud.
With its proprietary, patent-pending technology developed at its Swansea R&D facility, Three-Sixty Aquaculture will use the funding to expand with a new facility in Neath, Wales. This will enable large-scale prawn farming to supply the U.K.’s restaurant and hospitality sectors and sell directly to consumers.
Three-Sixty Aquaculture is an indoor fish farm producing fresh prawns using the Recirculating Aquaculture System (RAS) farming method. It provides locally sourced prawns that reduce environmental impact and fresh next-day delivery anywhere in the U.K.
Sales are expected to commence in early 2025, with a plan to expand its UK prawn farming operations to over 2,000 tonnes annually and internationally. The investment will also add to the rejuvenation of the Metal Box building, a former canning factory in Neath, and provide local employment opportunities.
“Demand for prawns is growing globally but the expansion of traditional prawn farming puts increasing pressure on the natural environment. Completing this round of funding puts us well on the way to expanding our sustainable British sushi-grade prawn farm which will not only help address these environmental issues but will bring locally grown, fresh and delicious-tasting prawns to U.K. diners,” said James Fox-Davies, CEO of Three-Sixty Aquaculture.
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