Sparbanksstiftelsen Norrland's Venture Capital Foundation continues to invest in regional growth initiatives. As a result, Foodtech company Big Akwa has developed an entirely new way to farm fish economically and sustainably. In addition, they are raising additional capital for what will become its first fish farming facility.
“Investing in the future of fish farming technology is timely and has great potential to provide local jobs in Ånge. It's an initiative we are eager to contribute to,” says Frida Anundsson, CEO of Sparbanksstiftelsen Norrland's Venture Capital Foundation.
“We are grateful for our investors and lenders' confidence in our company. These investments will be crucial for us to achieve our environmental permit goals. Furthermore, we are convinced that the next generation of sustainable fish farming like this can guide the entire process industry,” says Elena Petukhovskaya, CEO and founder of Big Akwa.
Foodtech company Big Akwa has raised approximately $465,500 in a second investment round through share sales and loans. The share sale of approximately $171,500 was made to existing investors Sparbanksstiftelsen Norrland's Venture Capital Foundation and Almi Invest as part of the company's second investment round. The loans of approximately $294,000 were secured through Almi Företagspartner and Norrlandsfonden.
The fact that Sparbanksstiftelsen Norrland's Venture Capital Foundation is investing for the second time to ensure continued growth shows tremendous confidence in Big Akwa. Increased climate awareness and investments in the seafood industry are also contributing factors.
“It feels both inspiring and right to invest in green technology that contributes to a more sustainable way of producing food. We strongly believe in Big Akwa's innovative business idea based on food supply without emissions and energy consumption for heating,” says Frida.
Härnösand-based Big Akwa was founded by Hugo Wikström and Elena Petukhovskaya. Their plans for the first farming facility in Ånge municipality are expected to yield an annual production of 6,000 tons of sustainably farmed rainbow trout. The operation will generate between 35-50 jobs.
“Creating growth in Västernorrland aligns well with our values. The fact that we continue to invest in the company also shows that we stand behind the founders' vision of contributing to more jobs and increased vitality in Ånge,” says Frida.
Image provided by Big Akwa
