Agriloops, a Rennes-based sustainable aquaculture company, has announced a successful funding round of €13M, supplemented by debt and grants. This financial milestone was achieved with the support of a crowdfunding campaign on the Sowefund platform.
The funds will kickstart the construction of Mangrove #1, Agriloops’ flagship commercial demonstrator in Brittany, set to become one of Europe’s largest aquaponic farms with an annual production capacity exceeding 100 tons of shrimp, fruits, and vegetables.
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A Milestone for Sustainable Aquaculture
Jérémie Cognard and Romain Vandame, co-founders of Agriloops, emphasized that Mangrove #1 represents a crucial step in demonstrating the scalability and profitability of their technology. They aim to showcase their unique approach, which offers significant environmental benefits while addressing the growing needs of the industry.
Broad Investor Support
The funding round attracted a new banking consortium alongside existing investors like BNP Paribas Développement, OGHI, and Business Angels. New participants include SPV Aqua Invest, regional fund Breizh Up, impact funds Transitions First and Good Only Ventures, and the non-profit organization Sustainable Ocean Alliance (SOA) based in San Francisco.
Championing Saltwater Aquaponics
Founded in 2016 by agronomic engineers Jérémie Cognard and Romain Vandame, Agriloops specializes in saltwater aquaponics, blending aquaculture and horticulture for sustainable, local shrimp farming. The company’s hybrid technology intersects the circular economy, industry, and digital, aiming to champion a more ethical and sustainable production model.
Mangrove #1: A Sustainable Aquaponic Loop
Mangrove #1 integrates a 2000 m2 aquaculture building and a 5000 m2 vegetable greenhouse, showcasing a sustainable aquaponic loop where water from shrimp tanks is recycled to fertilize fruits and vegetables. This system saves up to 90% of water and minimizes the need for additional fertilizers.
Addressing France’s Shrimp Market Challenge
Agriloops aims to reshape the shrimp market by relocating shrimp farming from mangrove areas, vital carbon absorbers, to Bréal-sous-Montfort near Rennes. This initiative not only addresses the ecological challenge but also aims to pioneer saltwater aquaponics, potentially expanding to other marine species.
The launch of Mangrove #1 in the coming months will also create approximately 10 jobs, effectively doubling the current team, and marking a significant step towards sustainable and local shrimp farming in Europe.
