Investment & Fund Management

Ava Ocean, a Norwegian company founded in 2016, is focused on sustainable seafood harvesting from the seabed. The company faced significant challenges in the fisheries industry, particularly the environmental impact of traditional scallop dredging, which has been banned in Norway since 1992 due to its destructive nature. With over 1,000 vessels still using dredging globally, Ava Ocean sought to develop a more sustainable and efficient method of harvesting scallops.

To address these niche issues, Ava Ocean implemented advanced technologies originally designed for the oil and gas sector, adapting them for fishing. Their innovative harvesting units operate just above the seabed, utilizing a pumping solution to create a water flow that gently lifts scallops into a basket with minimal damage to the seabed. This precision harvesting approach includes a sorting mechanism to return non-scallops to the seabed and camera technology for optimal harvesting site selection. The integration of AI allows for real-time monitoring and data collection, enhancing the efficiency of their operations.

Since the launch of their first vessel equipped with this technology, the Arctic Pearl, in December 2022, Ava Ocean has attracted investment from Ocean14, a venture capital firm focused on sustainable fisheries. This partnership is aimed at expanding their innovative solution globally. As Ava Ocean prepares for its second project in 2024, the company is committed to managing sustainable long-term change within the traditional fisheries industry, emphasizing collaboration and a step-by-step approach to finding solutions that benefit fishermen while promoting environmental sustainability.