Poseidon Ocean Systems Drives Sustainability in Fish Farming

April 15, 2024

Last month, InBC announced our investment into Poseidon Ocean Systems, an aquaculture hardware technology company improving efficiencies and reducing the environmental impact of near-shore fish farming.

Poseidon’s complementary suite of industry-leading solutions includes its Trident Sea Cage and Life Support Systems. The Trident Sea Cage can withstand higher energy ocean environments and supports barrier technologies to reduce interactions between wild and farmed salmon, preventing sea lice and other diseases. The Life Support System promotes fish survival and growth. Used separately or integrated together, these innovations are enabling salmon farmers to improve fish health and mortality rates, increase yields and significantly reduce emissions and energy costs.

“Our mission is to develop advanced integrated aquaculture technology to improve sea farm sustainability, productivity and performance in the face of changing ocean conditions. It’s excellent to have an investor that understands and supports our focus on sustainability, climate resilience and fish welfare, and who can help foster our R&D and manufacturing growth (headquartered in Campbell River, B.C.), and in turn the global export of our technology.”

— Jamie Gaskill, CEO, Poseidon Ocean Systems

Poseidon’s novel technologies are being used at fish farms in Canada and across South America and Europe. In British Columbia (B.C.), Mowi Canada West’s Monday Rock farm off Vancouver Island has installed Poseidon hardware to reduce interactions between wild and farmed salmon and avoid threats such as plankton blooms, hypoxia and sea lice. In 2022, Cermaq Canada reported cutting over 76,000 kg. of carbon emissions in a year — a 60% reduction — during a trial of Poseidon’s aeration technology at two of its B.C. farms.

The aquaculture industry plays an important role in B.C.’s economy as well as our food security, especially during the current increased demand for sustainable protein. Headquartered in Campbell River, Poseidon is supporting quality jobs on northern Vancouver Island — including in engineering, design, development and more — while improving the productivity and sustainability of fish farms here and across the world.  

InBC invested in Poseidon Ocean Systems alongside other investors including the Ecosystem Integrity Fund and Export Development Canada. The company is using this capital to expand its commercial sales and market share, while keeping its headquarter and innovations in B.C. In addition to the potential for financial returns, this investment aligns with our impact objectives to innovate for the future and drive climate action.

Are you an innovative and impactful B.C. company looking for an equity investment to support your scale up? InBC is investing alongside other investors in companies raising a total of $5 million or more (typically a Series A or later). Learn more about our investment objectives and consider InBC as an investor here.