Urchinomics: Series A Fundraise by the ENEOS Group and Large North American Family Office Signals Global Expansion
FOR IMMEDIATE RELEASE – MARCH 30th, 2021
Contact:
Brian Tsuyoshi Takeda
btt@urchinomics.com
+47 9542 1501
URCHINOMICS SERIES A FUNDRAISE BY THE ENEOS GROUP AND LARGE NORTH AMERICAN FAMILY OFFICE SIGNALS GLOBAL EXPANSION
Ulsteinvik – March 30th, 2021 – ENEOS Holdings, Inc. (“ENEOS”) a leading Japanese energy and metal conglomerate and a North American family office with a strong interest in ocean health have participated in the €4,85 million Series A for Urchinomics, the pioneering sea urchin aquaculture venture. This investment by ENEOS is performed through their corporate venture capital arm, ENEOS Innovation Partners LLC, and is part of their wider global Blue Carbon initiative. In April, Urchinomics is set to launch the world’s first commercial scale, ecologically restorative urchin ranch in Kunisaki, Oita, Japan. The funds raised will be used to launch additional commercial scale urchin ranches in Japan, North America, and Norway.
The commercialization of the Japanese operations is the culmination of many years of international collaboration. This has involved a global intelligence network of stakeholders such as governments, businesses, non-profits, philanthropists, environmentalists, commercial fishers, and research institutes including NIVA (Norwegian Institute for Water Research), Nofima (Norwegian Institute of Food, Fisheries and Aquaculture Research), UC Davis Coastal and Marine Sciences Institute, based at the Bodega Marine Laboratory, and San Diego State University in California. This has also involved the continuous financial and operational support of the Dutch fishing company Cornelis Vrolijk, which has been an early stage investor and shareholder in Urchinomics since 2016. This approach has helped validate the Urchinomics all-natural, animal ingredient free feed formulation and land-based recirculating aquaculture systems (RAS) across every commercially viable urchin species in the Northern Hemisphere.
These stakeholders have a shared mission to restore marine habitats from overgrazing sea urchins causing the growing issue of urchin barrens. The Urchinomics technology is designed to hold and feed empty, barren sea urchins for 6-12 weeks to enhance their roe and sell onwards to fine dining restaurants. By removing these urchins from the ocean floor, grazing pressure is reduced and kelp forests recover, restoring coastal ecosystems and the biodiverse animal populations that depend on them.
Yasunori Yazaki, Executive Officer, General Manager, Emerging Business Development Dept. of ENEOS says, “ENEOS´ investment represents our confidence in the Urchinomics proven methodology and our commitment to making blue carbon credits a tangible vehicle to help restore coastal and marine ecosystems and decarbonize our planet”
Brian Tsuyoshi Takeda, CEO and Founder of Urchinomics, states that, “With the commercialization of the Japanese operations, Urchinomics has been able to demonstrate how the ranching technology can turn a problematic species into a premium restorative seafood, and how the proceeds from its sale could be reinvested to help sustainably finance future marine habitat restoration efforts. We look forward to introducing North America and Norway to this technology at scale soon!”
Annerieke Vrolijk, Director of Cornelis Vrolijk, states that, “We are happy to have both investors on board. With this fundraise Urchinomics will be able to further develop its urchin ranches ultimately helping kelp forests to recover. This approach binds and sequesters CO2, in line with Cornelis Vrolijk’s vision of corporate social responsibility.”
In addition to active pilot operations throughout Japan, Urchinomics is actively piloting its technologies in Newfoundland and Quebec, Canada, Stavanger, Norway, and is planning a pilot site in California, USA.
ENEOS is a holding company listed on the First Section of the Tokyo Stock Exchange and is a comprehensive energy, petroleum upstream and metal conglomerate. The ENEOS brand is also a wellknown consumer brand in Japan, especially for gas stations and electricity. ENEOS group aims to be the most prominent and internationally competitive energy and materials company in Asia and to contribute to the development of a low-carbon recycling-oriented society, creating value by transforming the current business structure. See also: https://www.hd.eneos.co.jp/english/ and https://www.eneos-innovation.co.jp/english/.
Urchinomics is a pioneering aquaculture venture that aims to turn overgrazing sea urchins into high valued seafood products that can be consistently supplied year-round. The Urchinomics process helps restore kelp forests, which in turn supports greater marine biomass, biodiversity, and capacity to sequester atmospheric CO2, all while creating meaningful, full time employment in rural, coastal communities around the world.
Cornelis Vrolijk is an international fishing company with its headquarters in IJmuiden, the Netherlands. The family firm, founded in 1880, is active in catching, farming, processing and trading fish and fish products as well as tropical and cold-water shrimps, with the aim of producing healthy food for millions of people around the world. Conserving fish stocks and minimising the environmental impact, together with a committed and proud workforce, are the company’s underlying principles. Including partnerships, Cornelis Vrolijk employs more than 2,000 people around the world. See also: www.cornelisvrolijk.eu