Pure Salmon, a land-based Atlantic salmon aquaculture company, will set up its global headquarters in Abu Dhabi in partnership with Abu Dhabi Investment Office.
The partnership is part of Adio’s Dh2 billion innovation programme and Pure Salmon will receive financial and non-financial incentives from the emirate’s investment entity, Adio said in a statement on Wednesday.
“The introduction of Pure Salmon’s pioneering technology and knowledge to Abu Dhabi’s ecosystem will enhance the emirate’s aquaculture capabilities and create a hub from which new agriculture solutions can proliferate,” said Tariq bin Hendi, director general of Adio.
He added that Adio is committed to "supporting businesses aligned with our mission of advancing regional and global innovation".
Abu Dhabi is aiming to attract innovation-driven companies to strengthen its agriculture technology ecosystem as food security challenges emerge globally during the coronavirus pandemic.
India-based start-up FreshToHome also received financial and non-financial incentives from Adio in December last year.
Pure Salmon is a portfolio company of private equity funds managed by Singapore-based 8F Asset Management.
It uses Recirculating Aquaculture System (RAS) technology to sustainably farm fresh, traceable and healthy Atlantic salmon in proximity to end consumers, which reduces lengthy transport requirements and the company's carbon footprint, while lowering natural resource consumption.
The partnership with Adio is expected to help Pure Salmon hire new staff and expand its operations as it aims for 260,000 tonnes of salmon production per year, according to Adio.
The company’s Abu Dhabi headquarters will manage global production centres in Poland, Japan, the US and France, it said.
Adio, the government entity responsible for attracting and facilitating investment in Abu Dhabi, provides support to innovation-led ventures in sectors including information and communications technology, health services, biopharma and tourism.
Its innovation programme is part of the Dh50bn Ghadan 21 Initiative, a three-year plan to boost the emirate's non-oil economy.