Canada-based alternative asset investment firm Cadman Capital Group has acquired aquaculture company Urchinomics.
Cadman Capital Group has taken an undisclosed strategic equity stake in the company which turns ecologically destructive sea urchins into high valued-seafood.
By its work, the company aims to help renew and restore the world’s kelp forests.
Cadman Capital Group’s involvement will allow Urchinomics to accelerate its growth plans across its operations in North America, Japan and Europe, including starting kelp restoration across the Bay of Fundy and the East Coast in North America.
“Urchinomics is a tremendously exciting business. They share our passion to develop nature based solutions to tackle the fight against climate change and help heal our oceans," Cadman Capital Group Founder Giles Cadman said.
"Urchinomics’ core model of restorative aquaculture is synergistic to our current operations, particularly within lobster production, and we look forward to accelerate operations globally,” he said.
“Cadman Capital Group’s involvement signifies the start of the next stage of our growth plans and will further our efforts in developing systems that can make a difference to our planet," Urchinomics CEO and Founder Brian Tsuyoshi Takeda said.
Capital Group is already owners of the largest licensed urchin aquaculture facility in Canada, Quoddy Savour Seafoods, according to the company press release.