Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Andreas von Scholten with Peter Chia (Photo: fish.allegro-aqua.com)

Barramundi Asia buys deep tech startup (video)

Click on the flag for more information about Singapore SINGAPORE
Thursday, January 23, 2020, 00:00 (GMT + 9)

Singapore-based Barramundi Asia, which operates the largest barramundi farms in Singapore and Australia, is acquiring deep tech startup Allegro Aqua as it hones in on the study of fish genetics to boost production.

Allegro Aqua, a startup by scientists from the Temasek Life Sciences Laboratory (TLL), will be 100 per cent owned by Barramundi Asia in a cash and share swap transaction, Barramundi CEO Andreas von Scholten told The Business Times. He declined to reveal the deal value.

Allegro Aqua was established in mid-2018 with pre-seed funding from Temasek Life Sciences Accelerator (TLA). The Temasek Life Sciences Group, which consists of TLL, TLA and the Temasek Lifesciences Innovation Fund, is Allegro Aqua's majority shareholder. TLA is a joint venture between TLL, a non-profit philanthropic research organisation, and Temasek Holdings' venture capital arm Vertex Holdings.

Other backers of Allegro Aqua include angel investors such as industry veteran Koh Soo Keong, who is also chairman of the startup. Post-venture, Allegro Aqua’s shareholders will be “significant shareholders” of Barramundi Asia, said Mr von Scholten.

The startup was set up to commercialise an elite strain of barramundi, or the Asian sea bass. The sea bass, which is marketed under its registered name St John’s Sea Bass, can be bred in 30 per cent less time, is less susceptible to diseases, and is more nutritious and tasty, according to the startup.

 YouTube: Temasek Life Science Lubina (Barramundi)

It was developed by TLL as part of a joint research collaboration with the Singapore Food Agency, and represents over 15 years of advanced research in genetic selection and mass cross-breeding.

Allegro Aqua will work closely with TLL and Barramundi Asia’s subsidiary UVAXX, a specialist in the science of fish health, to develop vaccinated barramundi fingerlings for Barramundi Asia’s nucleus of regional farms and other farms in Singapore and the region.

“Many farms are aware that they need to start with good fingerlings, because all the effort downstream would be wasted if you have poor starting material,” said Peter Chia, the CEO of Allegro Aqua and TLA.

He said Barramundi Asia (BA) will not be the only “captive customer” for Allegro Aqua. “I must give a lot of credit to the BA management team for understanding and for their vision – that in order to build the ecosystem, Allegro Aqua needs to supply these fingerlings to other local farmers so that we can, as an entity, help to level up the industry in Singapore.”

Barramundi Asia is mulling a guaranteed buyback programme for farmers that it supplies fingerlings to, when the fish is ready for harvest. The company, which said it is on track to produce over 5,000 tonnes of fish by 2023, will require that farmers follow strict farming practices.

Mr von Scholten said in a press statement: “Our end to end, in-house expertise will now span barramundi genomics, proprietary autogenous vaccines, 'Best Aquaculture Practice’s' highest four–star rated nursery cum husbandry practices, best-in-class grow-out capabilities, as well as EU-compliant (European Union) post-harvest processing.”

Barramundi Asia is in the midst of developing a 6,600 hectare ocean farm site in Brunei’s Nankivell Offshore Aquaculture Site, which it is investing S$300 million into.

At full operation, the site is expected to produce 40,000 tonnes of barramundi valued at S$300 million per year by 2021, according to a press statement from Brunei’s Department of Fisheries under the Ministry of Primary Resources and Tourism. The fish will be exported to Singapore, Australia and Europe.

Photo: fish.allegro-aqua.com

Barramundi Asia uses proprietary vaccines made by its subsidiary, UVAXX, on its fish stocks, and the companies plan to combine their use with Allegro Aqua’s St John’s Sea Bass fry and fingerlings to improve production volume, the statement said.

The St John’s Sea Bass strain was developed along with the Singapore Food Agency to have a better growth and survival rate, the statement said.


Author:
Claudia Chong / The Business Times (Read the whole article here)


editorial@seafood.media
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
Viet Nam
Jul 4, 07:00 (GMT + 9):
US Tariff Pressure Casts Shadow Over Vietnam's Seafood Exports, Slowing Growth in June
Norway
Jul 4, 00:10 (GMT + 9):
Norwegian Salmon and Trout Conquer Global Markets Amidst Shifting Tides
Norway
Jul 4, 00:10 (GMT + 9):
Norwegian Seafood Exports Hit Record High in First Half of 2025
Faroe Islands
Jul 4, 00:10 (GMT + 9):
Bakkafrost Reports Strong Q2 Harvests, But Scottish Mortality Costs Soar
United Arab Emirates
Jul 3, 05:20 (GMT + 9):
UAE Drives Aquaculture Expansion with Focus on Exports, Sustainability, and Food Security
Norway
Jul 3, 02:00 (GMT + 9):
Norway Reopens Land-Based Aquaculture Licensing with Stricter Rules
Brazil
Jul 3, 00:10 (GMT + 9):
Embrapa Leads Groundbreaking Research to Slash GHG Emissions in Tilapia Farming
Viet Nam
Jul 3, 00:10 (GMT + 9):
Beyond Farming: Vietnam's Unique Grip on the Global Pangasius Industry
Norway
Jul 2, 06:00 (GMT + 9):
Revolutionary Norwegian Project Transforms Industrial CO₂ Emissions into Sustainable Salmon Feed
Ghana
Jul 2, 05:00 (GMT + 9):
Ghana's Aquaculture Set for Sustainable Boost as ASC and Chamber of Aquaculture Forge Strategic Partnership
Norway
Jul 2, 04:00 (GMT + 9):
HAV Design to Deliver New Live Fish Carrier for North Salmon Service
Viet Nam
Jul 2, 04:00 (GMT + 9):
Vietnam's Seafood Sector Navigates Global Headwinds to Meet Ambitious Export Targets
Worldwide
Jul 1, 06:00 (GMT + 9):
World Bank Report: Sustainable Aquaculture Poised to Generate 22 Million Jobs and Trillions in Investment by 2050
Spain
Jul 1, 06:00 (GMT + 9):
Not a Mussel in Cobre San Rafael's Hands: Opmega Stops Unloading at Vilaxoán Port Due to Environmental Ethics
Brazil
Jul 1, 00:10 (GMT + 9):
AQUISHOW 2025: Health Course Unites Latin American Tilapia Leaders, Forging Sustainable Future



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Vietnam's Tuna Exports Rebound in May 2025 Amid Global Trade Shifts
Viet Nam Producers Navigate US Tax Concerns and Middle East Instability by Diversifying Markets. HANOI – After facing headwinds in early 2025, Vietnam's tuna exports saw a significant recovery in May, r...
Argentina's Shrimp Industry Faces Unprecedented Crisis, Billions in Losses Amid Labor Dispute
Argentina Five Thousand Workers Unemployed, Over US$200 Million in Export Losses as Unions and Fishing Companies Lock Horns Over Wages. BUENOS AIRES – Argentina's vital shrimp fishing industry is grappli...
Anchovy-Dominated Diets Threaten West Coast Salmon, Study Reveals Fatal Vitamin Deficiency
United States New Research Links Ocean Shifts to Thiamine Deficiency, Killing Half of Endangered Chinook Fry and Deepening Salmon Crisis. SAN FRANCISCO, CA – A widespread vitamin deficiency, triggered by an ...
Indonesian Fisheries Soar: Southeast Sulawesi Exports to US, Thailand Confirmed to Meet Global Standards
Indonesia Ministry of Marine Affairs and Fisheries Greenlights Over $1.7 Million in High-Quality Seafood, Signaling Growth for Eastern Indonesia's Sector. JAKARTA – Indonesia's Ministry of Marine Affairs...
 

Umios Corporation | Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Aquaculture Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2025 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER