Pure Salmon

Pure Salmon is an operator of land-based salmon farming facilities, established in 2018 by founders Stephane Maurice Farouze, Karim Ghannam, and Martin Fothergill. Headquartered in Abu Dhabi, the company was developed by 8F Asset Management, a global asset management firm co-founded by Farouze and Ghannam that focuses on impact investing. Stephane Farouze, an experienced figure in asset management with previous roles at PARADIGM Global Advisors and Societe Generale, founded 8F Asset Management in 2015 and also serves as the founder of Pure Salmon Ltd.

The company is positioned in the global aquaculture market with a clear mission: to produce fresh, healthy, and traceable Atlantic salmon locally to major consumption centers. This model aims to disrupt traditional sea-based salmon farming by mitigating environmental impacts and reducing the carbon footprint associated with air-freighting fish across continents. Pure Salmon's business strategy involves constructing and operating a global network of vertically integrated aquaculture facilities. Each site is designed to include its own hatchery, grow-out systems, and processing capabilities, ensuring full control over the production chain from egg to final product. The company's revenue is generated through the sale of its salmon products, which include fresh fillets, smoked salmon, and cooked portions, to retailers and the foodservice industry.

The core of Pure Salmon's operation is its proprietary Recirculating Aquaculture System (RAS) technology. This land-based system creates a controlled and biosecure environment, allowing the fish to be raised without the use of antibiotics, pesticides, or hormones, and free from marine pollutants like microplastics. More than 99% of the water within the RAS facilities is recirculated, significantly reducing water usage. Pure Salmon Technology, the group's technology arm acquired in 2021, brings over two decades of experience in water treatment and land-based fish farming, having delivered systems for major salmon producers like MOWI and SalMar. This expertise underpins the company's global expansion plans.

Pure Salmon has embarked on an ambitious global rollout with a target of producing 260,000 tons of salmon annually. The expansion includes facilities in Japan, the United States, and France, with further plans for China, Southeast Asia, and the Middle East. A key milestone is the 'Soul of Japan' project in Mie Prefecture, a 10,000-ton-per-annum facility poised to be the largest of its kind in Asia. The company has also recommenced construction on a large-scale farm in Virginia, USA, though this project has seen shifts in strategy, including a switch to producing steelhead trout due to market factors. The company's first facility in Poland has been operational, serving as a proof-of-concept and training ground.

Keywords: land-based aquaculture, recirculating aquaculture system, RAS, Atlantic salmon, sustainable seafood, fish farming, aquaculture technology, vertical integration, food security, impact investing, controlled environment agriculture, seafood production, biosecurity, water recirculation, local food production, salmon processing, sustainable protein, aquaculture investment, Abu Dhabi, Soul of Japan