Sea Eight, a global leader in the production of sole (Solea senegalensis), has reaffirmed its commitment to innovation, sustainability, and excellence in aquaculture by securing €16 million in bank financing to support its ambitious growth plan through to 2026.
The funding, which compromises €14 million in private financing and an additional €2 million from the Regional Promotion Society -a public entity backed by the regional Government of Asturias- ensures the liquidity needed to deliver on the company’s strategic objectives. According to Sea Eight, this financial support will enable them to achieve an annual production capacity of 1,600 tonnes during the project’s first phase, further strengthening the group’s financial stability.
Innovation and sustainability at the core of the strategy
The funding will underpin the construction of a cutting-edge sole farming facility at the port of El Musel in Gijón, Spain, which includes an additional €8.5 million in self-financed capital. This new site will employ RAS (Recirculating Aquaculture System) technology, a state-of-the-art system that recycles and reuses water, significantly reducing environmental impact and avoiding any interference with marine ecosystems.
Sea Eight’s business plan not only aims to boost production capacity but also positions the company as a benchmark for sustainability in the sector. By 2026, the firm expects to achieve sales of €18 million and a consolidate EBITDA of €7 million, building on total assets valued at €78 million.
In future phases, the company plans to expand its capacity to 4,000 tonnes annually through the development of five additional farming modules and a reproduction unit in Asturias, representing a substantial qualitative leap into both production volume and profitability.
Looking to the Future
Carlos Buján, Sea Eight’s Chief Officer, expressed gratitude for the financial backing: “We are thankful for the trust shown by the banks. This support puts us in an excellent position to continue our growth trajectory.”
Jaime León, CEO and partner of the group, added: “We have an ambitious vision to become global leaders in sole production through sustainable technology. We are proud to offer a premium-quality product and to be backed by a dedicated team of professionals committed to this exciting project.”
With this initiative, Sea Eight strengthens its position as a leader in the sector, combining business growth with technological innovation and respect for the environment. The new facility at El Musel will not only reinforce Asturia’s status on the European aquaculture map but will also serve as a role model in the shift towards more sustainable aquaculture practices.
Source - https://www.mispeces.com
