AquiNovo

Enhancing fish growth

AquiNovo develops innovative, proprietary, additives, allowing an increase of global fish yield with less feed, using non-GMO, non-hormonal, bioactive peptides. The company has a partnership with ADM and addresses a multi-billion market.

108% From funding target

14

Units lefts

$15,000

Minimum investment

35

Days to go
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By: Dr. Nissim chen
Overfunding
Investment:
Company Stage:
Category:
Food & Agro

Campaign Highlights

Campaign Highlights

A revolution for the Aquaculture industry

The global demand for fish is growing faster than ever, while our oceans are losing more and more of their fish populations. Aquaculture has therefore grown immensely, providing about 50% of fish for human consumption. AquiNovo's pioneering tech addresses a key challenge of the hundreds of billions of dollars aquaculture industry: reducing fish feed consumption while improving fish yields. Invented at the Hebrew University and further developed by AquiNovo the technology has proven to improve both fish growth and feed utilization, resulting in higher fish yields with less feed. The company’s initial product, now in late development, is designed for tilapia, the second-largest farmed fish consumed by humans, offering farmers a significant profit increase thanks to higher revenues at lower costs

Positive impact on climate change and the global food crisis

Climate change, humanity’s greatest challenge at hand, is felt across the globe and affects the lives of many billions.

Being 40-70% of all operational costs and of greenhouse gas emissions, aquafeed is the main input as well as main carbon footprint contributor of the aquaculture industry. Aquafeed’s impact on farm caron footprint steams mainly from feed proteins originating from non-consumable marine catches and forest-replacing soy plants, nitrogen and other nutrients having the potential to reach natural lakes and rivers and greenhouse gas emissions associated with its production.

AquiNovo’s technology improves both fish growth and feed conversion ratio, thus tilting the ratio between kg feed to kg fish in favour of the fish. Increasing fish yield also eases the great pressure on dwindling aquatic resources and marine wildlife - while showing no adverse effect on animal’s health and no accumulation in the fish or the water. The technology thus contributes to achieving the UN’s Sustainable Development Goals (SGD’s), including preserving fish populations, providing food security, and reducing hunger and poverty

 


 

Proven efficacy and safety in trials conducted in Israel and Asia

The company’s technology was proven in tilapia in mid (hundreds of fish per experiment) and large-scale studies (thousands of fish per experiment) as part of an extensive R&D program conducted in Israel and Asia for the last several years . These trials  successfully proved the tech's significant and consistent improvement of  fish growth and FCR (Feed Conversion Ratio, the kg amount of feed required to generate a kg of fish) and environmental and health safety aspects: no effect on fish health, no residues in fish and no accumulation in water. Moreover, it also demonstrated a beneficial fish size distribution: larger number of big fish and smaller number of small fish, allowing farmers to save inputs and reduce risks by gradual harvesting. In addition, initial results also demonstrated higher fillet rate.  

 

 Partnership with a global market leader

AquiNovo has partnered with Archer Daniels Midland (NYSE: ADM), the world’s largest agricultural processor and food ingredient provider. The partnership is focused on AquiNovo’s first product targeting tilapia, the second-largest farmed fish consumed by humans, and includes investment and development. The company is in preliminary talks with additional potential partners for products targeting other species such as salmon, carp, and shrimp. Progress towards partnerships around these species is expected once sufficient research data will be gathered. 

   

 

Awards, Grants and Showcases

In 2019 AquiNovo was recognized and recommended by Israel’s Ministry of Agriculture and Rural Development (1st place in the Aquaculture category). The company has received the Israeli Innovation Authority's funding in 2015-17 & 2019, and was an Innovation Showcase finalist at Animal Health Investment Europe (2020) and Aquaculture Innovation Europe (2019), winning also 2nd place in the Best Israeli Agtech Company Competition (AgriVest, 2018).


A leading management and scientific team

AquiNovo is led by a team with vast experience, including founder and CEO, Dr. Nissim Chen, an expert in technology commercialization and international business development in Biotech and Agtech, Freddy Shaviv, Head of Production and board members, former CEO of ChimAgis & Agis Industries, with many years’ proven track record in C-level management and strategic planning in the pharmaceutical and chemical industries, and Dr. Limor Ziv, VP R&D, an expert scientist in fish endocrinology and neurobiology, with substantial scientific and R&D management track record. 

Pitch

Pitch

The Idea

The Need

The old cliche which says "There are plenty more fish in the sea" - is actually no longer that true, in our day and age.

The growing consumption of fish, in the last several decades, has led to a global trend of overfishing, and depletion of marine resources, due to the ever-growing human need for protein sources.

The United Nations’ Food and Agriculture Organization (FAO) estimates that by 2050 the global population will reach 10 billion people, thus increasing food consumption by 12%, compared to 2000.

The population growth, in developing countries in particular, also means an urbanization process, a middle-class growth - and related lifestyle and diet trends, which increase the demand for healthier food, directly increasing the demand for fish.

Fish has become a significant contributor to the mitigation of the global food crisis: in a world of diminishing land and water resources, it provides healthy and accessible food that requires less resources than any other farmed animal. It serves as the only animal protein source for over a billion people worldwide, and provides 20% of all protein to an additional 3 billion people. 

In fact, fish consumption has increased significantly in the last few decades reaching over 20Kg per capita in 2020. 

 


The Solution

This growing consumption and demand for fish, and the trends of global overfishing and depletion of marine sources, have fueled an immense growth of the aquaculture industry (meaning, farmed fish).

As the graph below shows, the capture of fish from the seas remained steady for the last 30 years while Aquaculture kept growing, and is now providing about 50% of all fish consumed.

     


Yet, despite the immense growth of the aquaculture industry, it is faced with a critical challenge – finding ways to sustainably meet this ever-growing demand. 

Now, AquiNovo’s solution finally allows the production of higher farmed fish yield, with less resources.


 
Technology

AquiNovo’s technology is based on innovative, non-GMO, non-hormonal feed additives designed to promote fish growth capacity and decrease feed utilization rate.

This unique solution allows for significant improvement in both growth and feed utilization, thanks to targeted, synthetic, bioactive and biodegradable short peptides that compete with natural endogenous peptides, resulting in higher nutrient absorption in the intestine.

This allows for the same quantity of feed to be converted into more biomass, therefore increasing growth performance, while decreasing Feed Conversion Ratio (FCR). It also contributes to higher fillet rate (initial results) and better size distribution (more big fish and less small fish).

AquiNovo’s feed additives are peptides in the form of a powder that will be sold to fish feed companies to be mixed with all other feed ingredients in the process of feed manufacturing. These peptides will be manufactured using an innovative, patent protected, improvement of the most common method used, solid phase synthesis. It was licensed from the Hebrew University and further developed by the company - now at a scale up phase - to larger production volumes. The improved method allows faster and cheaper production of large peptide amounts. In addition, it will  lower fish farm carbon footprint.

The company’s most advanced product under development targets tilapia, the second most common farmed fish consumed by humans, projected to be launched in  2023. Additional products are being developed for other aquatic species. 

The company’s technology was proven in tilapia in mid (hundreds of fish per experiment) and large-scale studies (thousands of fish per experiment) as part of an extensive R&D program conducted in Israel and Asia for the last several years. These trials successfully proved the tech's significant and consistent improvement of fish growth and FCR (Feed Conversion Ratio, the kg amount of feed required to generate a kg of fish) as well as environmental and safety aspects: no effect on fish health, no residues in fish and no accumulation in water. Moreover, it also demonstrated a beneficial fish size distribution: larger number of big fish and smaller number of small fish, allowing farmers to save inputs and reduce risks by gradual harvesting. In addition, initial results also demonstrated higher fillet rate.   

After having already demonstrated efficacy and safety the company is now mapping local demands and performing gap analysis, in preparation of regulatory files in accordance to the European guidelines. The files will then undergo further adaptations in specific territories, based on the mapping data.

 

Environmental and Social Benefits

Beyond the immense business opportunity, AquiNovo’s technology has a clear positive sustainability, environmental and social impact. It enables farmers to generate more fish yield with less feed, using the same land and water resources.

AquiNovo’s technology promotes achievement of several UN Sustainable Development Goals (SGD’s) including preserving fish population in the sea (SDG 14), providing food security and reducing hunger and poverty (SGD’s 1 and 2) as well as reducing fish farm carbon footprint, as feed is the main component of total footprint (SDG 13). In addition, using our improved peptide production method will contribute to responsible production (SDG 12).

In summary, AquiNovo’s technology allows a significant reduction in farm’s carbon emissions, easing the great pressure on dwindling aquatic resources and marine wildlife while showing no adverse effect on animals’ health and no accumulation in fish and water. 

Team

Team

Nissim Chen
Founder and CEO
Biography
Over 20 years’ experience in technology commercialization and international business development across Biotech and Agtech fields and markets.

  • Founder
Freddy Shaviv
VP Production, Board Member
Biography
Over 38 years’ proven track record in strategic planning, production, and operations in the pharmaceutical and chemical industries.

  • Director
Limor Ziv
VP R&D
Biography
Expert Scientist in fish endocrinology and neurobiology, strong scientific and R&D management track record.

Financial data

Financial data

Updates

Updates

Currently there are no updates in this pitch

The financing rounds made through the ExitValley platform are in accordance with a model of statutory exemption from publishing a prospectus pursuant to sections 15A(A)(1) and 15A(A)(7) to the Israeli companies law - 1965.
Under our model, the disclosure of detailed information on the company and information about the investment in each round of financing are limited to not more than 35 investors which are not qualified investors and the round of financing in not in the format of an offering arrangement ("רכז הצעה") as defined in the securities law
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