Cell Aquaculture (ASX: CAQ) has developed the "Cell" System - a sophisticated, yet simple and economical land based recirculating aquaculture system that delivers premium seafood, in an environmentally responsible manner, consistently throughout the year.
International aquaculture company Cell Aquaculture (ASX:CAQ) has secured an initial $2.4 million investment from a large European strategic investment partner.
The Dutch based private equity fund, Linnaeus Capital Partners (Linnaeus), will become a major Cell Aquaculture shareholder having acquired 25 million shares at 9.6 cents per share for its initial investment. Cell Aquaculture’s trading range was approximately 13-14 cents at the time of offer.
This is the first stage of a planned long term funding and investment strategy in Cell Aquaculture, with the shares subject to a voluntary 12 month escrow period.
Linnaeus holds significant investments across a range of industries in small to medium cap companies. It targets high growth potential and now plans to develop a global presence in aquaculture.
Linnaeus Director Anita Hamilton stated the company saw tremendous opportunity in the aquaculture industry particularly in the land-based recirculating sector.
"Following thorough due diligence and having searched the world for a suitable aquaculture investment, we believe that Cell Aquaculture is exceptionally well positioned to capitalise on the booming aquaculture industry," Ms Hamilton said.
“Cell Aquaculture has developed unique technologies, a compelling business model and by collaborating with a strong investment partner, the company can now rapidly develop a substantial international aquaculture business.”
Cell Aquaculture Executive Chairman Perry Leach said this was an important milestone for the company.
"Partnering with a well-resourced cornerstone investor that shares our vision will enable the company to accelerate its growth plans," Mr Leach said.
“The additional investment strengthens Cell Aquaculture’s position as the company progresses toward the final stage of securing its large scale Malaysian venture.”
The company’s consolidated cash position is now approximately $3.4 million.