Siemens invests in Singapore Aquaculture Technologies
• Singapore Aquaculture Technologies (SAT) Pte Ltd secures Series A financing round totaling S$9.2 million
• Siemens Financial Services takes bulk share of investment
• Siemens Digital Industries continues technology partner role
Singapore Aquaculture Technologies (SAT) Pte Ltd, a pioneer in utilizing closed containment systems for fish farming, announced today the finalization of a Series A financing round totaling S$9.2 million.
The main part of this equity investment comes from Siemens Financial Services (SFS) via Siemens Project Ventures GmbH – the financing arm of global technology company, Siemens AG. As SAT’s first institutional shareholder, the investment from SFS accounts for a significant minority stake in the company.
Founders Dirk Eichelberger and Michael Voigtmann view Siemens’ entry as a validation of their strategy to become the leading supplier of data- and artificial intelligence (AI)-driven aquaculture solutions, in addition to producing premium fish products under their BluCurrent label.
“We are absolutely thrilled that Siemens, which started off as our technology partner, is now also invested in us as our first institutional investor,” commented CEO Dirk Eichelberger.
“Siemens is deeply committed to sustainability and this is reflected in both our investment and technologies,” said Steffen Grosse, CEO of Equity Finance at Siemens Financial Services. “By investing in SAT, we hope to further support sustainable food production and help Singapore to achieve its “30 by 30” goal of 30% local food production by 2030.”
SAT launched its first Smart Floating Fish Farm in February 2020. Unlike traditional fish farms, the solution is scalable and is equipped with a Recirculating Aquaculture System (RAS) – a closed system that creates a controlled environment through a multi-level water treatment process. In addition, the farm integrates a high degree of automation, an efficient solar energy management solution, self-regulated control cycles and artificial intelligence within a Farm Management Information System to achieve a productive, scalable and environmentally friendly operation.
Siemens Digital Industries implemented an end-to-end digital solution for the smart farm, which included totally integrated automation with smart sensors and connectivity to the IoT operating system MindSphere. A dedicated application helps to monitor operations and process data across a secure network.
During the farm’s launch in February 2020, SAT and Siemens had signed a Memorandum of Understanding (MoU) for enhanced collaboration in commercializing and scaling Aquaculture 4.0 technologies in ASEAN and beyond. The two partners will now take the next steps to this enhanced collaboration with two additional smart farms in Singapore, slated to be ready by September 2021. These additions will increase SAT’s fish production capacity to over 1000 tons per year.
In parallel with the investment by SFS, Siemens has also signed a Strategic Collaboration Agreement with SAT, to partner with SAT in its future growth plans in Singapore and globally, which could include further enhancements to the technology solutions.
Contact for journalists:
Siemens Pte Ltd
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Singapore Aquaculture Technologies (SAT) is a sustainable aquaculture company, focusing on data and AI-driven processes and analytics. The company’s motto is “Teaming up with Nature“, following which natural processes are complemented with technology to create sustainable scalable solutions.
In aquaculture SAT has been a pioneer for tank based closed containment systems on floating structures. It has also set up a digitized smart floating fish farm that incorporates a high degree of automation, self-regulated control cycles and AI elements next to a farm management information system.
SAT operates flow-through systems as well as Recirculation Aquaculture Systems (RAS) and runs its own floating hatchery for tropical food fish.
Siemens Financial Services (SFS) – the financing arm of Siemens – provides business-to-business financial solutions. A unique combination of financial expertise, risk management and industry know-how enable SFS to create tailored innovative financial solutions. With these, SFS facilitates growth, creates value, enhances competitiveness and helps customers access new technologies. SFS supports investments with equipment and technology financing and leasing, corporate lending, equity investments and project and structured financing. Trade and receivable financing solutions complete the SFS portfolio. With an international network, SFS is well adapted to country-specific legal requirements and able to provide financial solutions globally. Within Siemens, SFS is an expert adviser for financial risks. Siemens Financial Services has its global headquarters in Munich, Germany, and has around 2,800 employees worldwide. www.siemens.com/finance.
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since September 28, 2020.
In fiscal 2020, which ended on September 30, 2020, the Siemens Group generated revenue of €57.1 billion and net income of €4.2 billion. As of September 30, 2020, the company had around 293,000 employees worldwide. Further information is available on the Internet at www.siemens.com.