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, which was exacerbated by high predation rates, Mito implemented innovative technology in their hatcheries. This included monitoring and controlling environmental parameters such as light and temperature, as well as automatic feeding systems powered by renewable energy. Collaborating with the University of Padova, Mito sought to create a zero-impact farm, optimizing energy consumption patterns to enhance sustainability.

To scale their operations, Mito partnered with 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 improve Mito's organizational capabilities and management practices, positioning the company to become a leader in the European mollusc market. Through this collaboration, Mito is not only enhancing its production capabilities but also striving to meet the increasing market demand for molluscs while addressing environmental sustainability.