Michelin Development helps sustainable aquaculture business bring new innovation on-stream

A Dundee-based sustainable aquaculture company, recognised globally for its innovative, welfare-first technology, is being supported towards the next stage of growth by Michelin Development.

 

Since its first funding round in 2019, Ace Aquatec has gone from strength-to-strength, bringing multi-disciplinary skills across scientific, veterinary, mechanical, electrical and software engineering together to address fish farmers welfare challenges across their production cycle.

 

The business has developed a diverse portfolio of award-winning products and is recognised as a innovation partner of choice by supermarkets, regulators and customers genuinely looking to revolutionise their aquaculture practices.

 

Ace Aquatec is using a grant from Michelin Development to add employment opportunities to the region and has already created 10 new roles at its headquarters in Dundee in 2024, from where the company oversees global research and development projects, manufacturing, the co-ordination of engineers and distributors worldwide, and supports its offices in Chile, Canada and Norway.

 

Nathan Pyne-Carter, Chief Executive Officer at Ace Aquatec, said: “We are focused on being the innovation partner of choice for those leading the blue revolution in developing welfare-first aquaculture technologies.

 

“Our products have already helped fish farmers across the world to make their practices more efficient, ethical and environmentally responsible.

 

“The grant from Michelin Development is supporting us with further targeted, sustainable growth by enabling us to invest in the delivery of more advanced digital data to provide insight to the fish farming community, and to create more new roles in areas including sales, operations and software development in Dundee over the next two years.

 

“Access to the funding has been invaluable to us in supporting our hiring programme and investment in technological innovations.”

 

In addition to grants, Michelin Development also supports high-potential, small and medium-sized enterprises in and around the Dundee and Angus region, through services including unsecured, heavily subsidised loans, as well as free, independent, and expert advice to pave the way for growth.

 

Targeted at manufacturing and service sector (B2B) organisations, with a viable business plan to create sustainable jobs, loans of up to £100,000 are available, and they can be used to lever additional funding from other sources.

 

Brian Cains, of Michelin Development in Dundee, said: “Ace Aquatec utilises the latest in digital technology to support a greener, more ethical and sustainable fishing industry.

 

“The team has decades of combined experience in the aquaculture industry and recognise that being at the forefront of the blue revolution requires agility and commitment to change, while being rooted in the company’s core values of quality, welfare, and sustainability.

 

“It has national and international growth potential and is just the type of business we are geared up to support.”

 

Michelin Development is backed by a steering committee made up of organisations including Michelin, Angus Council, Business Gateway, Dundee and Angus Chamber of Commerce, Dundee City Council, Scottish Enterprise and the Royal Bank of Scotland.

 

Brian Cairns added “Michelin Development is here to support employment in and around the city by helping high-potential firms and entrepreneurs turn their ambitions into reality.

 

“Manufacturing or service sector (B2B) businesses with fewer than 250 employees may be eligible for support.

Published: 30th September 2024