Aquaculture innovation 'graduates' listed among Ireland's top startups
Nano bubbles innovator, lice detection 'gamechanger' and fish-based pet food maker included in business paper's Hot 100
Three companies that participated in the Innovation Studio programme from Ireland’s seafood development agency, Bord Iascaigh Mhara (BIM), have been named in a “Hot 100 Startups” list published by Irish financial, political and economic newspaper Business Post.
They include NanobOx, a spin-out from University College Dublin (UCD) that has developed technology to produce nanobubbles using much less electricity than existing devices.
Started in 2022 by Dr John Favier and Dr Mohammad Ghaani, NanobOx is focused on both the aquaculture and agriculture sectors. Nanobubbles are smaller than the pores of roots and are negatively charged, which attracts fertiliser particles and carries both them and the oxygen to plants.
The business is initially targeting European fish farms and shrimp farms in the United States.
AI-based lice detection
Another of the companies is Konree Innovation, a Co. Galway business founded in 2021 by scientist Margaret Rae, a former director of the Irish Marine Institute, and sub-sea optics, lasers and machine vision expert Michael Flynn.
Konree is developing an artificial intelligence-based system that will be able to detect sea lice in a salmon pen and recommend the best termination method.
“This will be a game changer in the salmon production industry,” said Rae in an article published on the BIM website in May. “The solution we are developing to control sea lice is a drop-in solution, designed from the start to be a sustainable non-polluting technology. The salmon farmer does not have to invest in any special infrastructure to support it.”
The company took part in the BIM Aquatech Innovation Studio, delivered by aquaculture accelerator Hatch Blue, in 2022.
“It was a brilliant experience, and I would recommend any young aquatech company to apply,” said Rae in the article, published in May. “We had two weeks of really intense work every day from nine to five. It was a great litmus test for the business and made me ask vital questions such as what is the market for this technology? Will I attract investment? What is the supply chain in aquaculture? Is this a hobby or a business?”
'Fantastic advice'
She said the Innovation Studio also attracted experienced and inspiring speakers, and the entire supply chain in aquaculture was represented. “There were also investors who gave fantastic advice about what they are looking for in deciding to commit to an aquatech business. At the end of the day, they want a return on their money. The Innovation Studio was the reality check all start-ups taking part needed.”
Rae said while there are various treatments for sea lice, there is no single permanent treatment. “It is the one thing from a biological perspective that is holding the industry back from growing. The technology we are developing has the potential for a huge global reach. It is not unique to Ireland.”
According to the BIM article, Rae was hoping to do trials of the new technology this year in Norway at a private R&D facility.
Pet food
The third Innovation Studio graduate company listed by Business Post is Harley & Marley, a Co Dublin-based pet food company that uses fish rather than red meat in its food products for cats and dogs. All the fish are sourced from Irish suppliers, with local hake, haddock and rainbow trout used.
According to Business Post, Harley & Marley has forecast revenues of €600,000 by the end of the year, and €1.4 million by 2025 due to interest in Eastern Europe in Irish fish products.
The seventh Innovation Studio programme, open to both Irish and EU projects involved in the aquaculture technology arena, takes place from September 30 to October 11 at the River Lee Hotel, Cork City.
