JAPAN – Soul of Japan K.K. has obtained a substantial US$210M long-term debt facility to establish an advanced recirculating aquaculture system (RAS) for Atlantic salmon production, processing, and pet nutrition in Tsu City, Japan.
The company will collaborate with Pure Salmon Technology to integrate state-of-the-art RAS technology into the GK Mie RAS Atlantic Salmon Project, guaranteeing top-tier salmon quality.
The funding is being provided by Sumitomo Mitsui Banking Corporation (SMBC) and backed by 8F Asset Management, a global private equity funds manager owning the Pure Salmon Group.
The facility is set to produce 10,000 tonnes of Atlantic salmon annually, occupying 70,000 square meters of building space on a 137,000 square meter plot, making it the largest land-based salmon farm in Asia.
Commenting on this development, Erol Emed, CEO of SOJ, stated: “This financing propels our growth and strengthens Japan’s food security while reducing our environmental impact. Our goal is to deliver premium, locally sourced salmon to consumers.”
Karim Ghannam, Chief Investment Officer at 8F Asset Management, added: “Partnering with SMBC and the teams at SOJ and Pure Salmon highlights the significance of sustainable aquaculture and its positive influence on Japan’s economy and environment.”
Founded in 2018, Soul of Japan K.K. is affiliated with Pure Salmon Group, a company specializing in Atlantic salmon aquaculture using RAS technology.
SOJ operates a 10,000-ton-per-annum land-based salmon project in Mie Prefecture, Japan.
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