Investment & Fund Management

Mito, an Italian aquaculture company, faced significant challenges in mollusc production, with numbers plummeting from over 75,000 tonnes in 2014 to less than 25,000 tonnes today. The decline was attributed to various factors, including over-fishing, environmental changes, and pollution. To address these issues, Mito aimed to boost mollusc seed production, which had been declining for five years despite a growing demand for this protein source.

To tackle the low survival rate of mollusc seeds, Mito implemented innovative technology in their hatcheries, focusing on monitoring and controlling environmental parameters such as light and temperature, as well as automatic feeding systems. This approach was designed to enhance the survival rates of the seeds and optimize energy consumption through renewable sources. Mito collaborated with the University of Padova to develop a zero-impact farming model.

To scale their operations and improve organizational efficiency, Mito sought investment from Ocean14, a venture capital firm specializing in the blue economy and backed by the European Investment Fund (EIF) under the Investment Plan for Europe. This partnership aimed to refine Mito's business practices and position them as a leading company in Europe’s mollusc market.

As a result of these tailored solutions, Mito is on track to expand its nursery operations in the Netherlands and enhance production capabilities in Goro, Italy, thereby contributing to the sustainability of mollusc farming in the region.