Private equity firm, 8F Asset Management, closed funding to complete the construction and begin operations of Soul of Japan’s land-based aquaculture facility in Japan, as well as
Pure Salmon Technology, the technology arm of Pure Salmon Group.
8F held a first close of its third aquaculture fund - 8F Aquaculture Fund Japan I LP. The investors in this dedicated Japan fund come from a global network of institutional, sovereign and family office investors, including both existing 8F investors and new Japanese investors. The majority of the equity will be allocated towards the Japan facility.
In addition to the equity investment, Soul of Japan secured senior, long-term financing from a syndicate of Japanese banks led by Sumitomo Mitsui Banking Corporation. Japan Credit Rating Agency (JCR) assigned SU1 (F) rating to the sustainability finance framework of Soul of Japan. SU1(F) is the highest rating in JCR’s Sustainability Finance Evaluation category.
Construction of Soul of Japan’s land-based Atlantic salmon farming facility is progressing well, with the first harvest scheduled for mid-2027. The facility will have an annual production target of 10,000 tons of Atlantic salmon and is located on a 13.7-hectare site in Tsu City, the capital of Mie Prefecture. The fully vertically integrated, state-of-the-art farming and processing facility will produce high-quality, fresh, antibiotic- and vaccine-free Atlantic salmon for human consumption, as well as pet nutrition made from salmon offcuts. By employing land-based Recirculating Aquaculture System (RAS) technology, the facility minimizes environmental impact while providing a local production model that reduces carbon footprint.
“This successful close is another significant milestone towards our goal of supplying the world with clean, healthy, locally produced protein,” commented Stephane Farouze, chairman and founder of 8F and Pure Salmon. “The strong support from our investors, including the addition of new Japanese investors, underscores the growing need for innovative solutions to improve the sustainability of our food systems and meet the rising protein demand in Japan.”
Established in 1989 and previously owned by the global water utility provider Veolia, Pure Salmon Technology was acquired by 8F Funds in 2021.
