Founded October 2015
Stage Technology development
Investor Trendlines Incubators Israel, Archer Daniels Midland, Agriline
CEO Nissim Chen, PhD. MBA
AquiNovo brings a disruptive technology to growing markets, addressing food crisis and surging demand for animal protein.
AquiNovo develops proprietary, non-GMO, non-hormonal, specialty feed additives that increase fish yield and revenues whilst improving fish feed utilization leading to a reduction in feed cost. The value proposition for fish farms is thus higher fish yields at an increased profit. First products target tilapia (second largest farmed fish for human consumption) and future products will target additional species such as salmon, carp and shrimp. AquiNovo will sell its products to feed producers to be incorporated into their feed and sold to fish farms.
Beyond the immense business opportunity, AquiNovo’s technology has a clear positive impact on sustainability and societies. It promotes the achievement of UN Sustainable Development Goals (SGD’s) such as preserving fish population in the sea (SDG 14), providing food security and reducing hunger and poverty (SGD’s 1 and 2) and responsible production (SDG 12).
Granted patents and pending applications worldwide
2020: Innovation Showcase finalist at Animal Health Investment Europe, London.
2019: Innovation Showcase finalist at Aquaculture Innovation Europe, London
Aquaculture production is expanding rapidly as marine sources are depleted and fish consumption increases. To meet the ever-growing demand for fish protein, the aquaculture industry is in urgent need of sustainable solutions to increase fish yields using existing resources and infrastructures. AquiNovo’s technology was proven in tilapia large scale experiments (thousands of fish per experiment) in Asia.
Non-GMO, non-hormonal technology increasing fish yield; increased yields > increased revenues • improved FCR > reduced fish farm production cost; Estimated market potential: 51+million tons of feed for 44+ million tons of farmed fish
AquiNovo CEO Nissim Chen interviewed on Israel Daily TV.
Nissim Chen presents at AgriVest 2018 in Tel Aviv
>20 years’ experience in technology commercialization and international business development in biotech and agbio; former VP Business Development, FuturaGene Group; Director of Business Development, Ramot, Tel Aviv University technology transfer company; PhD, biology, Hebrew University of Jerusalem; MBA, Tel Aviv University
>38 years’ proven track record in strategic planning, production, and operations in pharmaceutical and chemical industries. Former CEO, ChemAgis and Agis Industries; board member of various biotech firms; MSc, mechanical engineering, Ben-Gurion University of the Negev; BSc, chemical engineering Technion-Israel Institute of Technology
Expert in fish endocrinology and neurology, strong scientific track record as well as lab establishment and management; PhD, biology, Tel Aviv University; MSc and BSc, animal sciences, Agriculture Faculty, Hebrew University of Jerusalem
With feed comprising 40-70% of growers’ operating expenses, the goal of reaching maximum fish weight while reducing production costs remains a key challenge. AquiNovo’s technology provides exactly that: increasing fish yield and production efficiency.
The technology can be applicable for all farmed fish and potentially lucrative aqua species like shrimps, thus tapping 44 million tons of various farmed fish and shrimp species valued at USD $140 billion (farm gate, 2017) and fed with over 51 million tonnes of commercial feed. Target commercial feed market was valued at USD $50 billion in 2016 and projected to reach USD $71 billion in 2025.