Founded March 2013
Investor Trendlines Incubators Israel
CEO Igal Magen
BioFishency’s cost-effective, all-in-one water treatment system for land-based aquaculture costs a fraction of the cost of high-end water treatment systems.
The system requires minimal infrastructure and expertise. It enhances water conditions, enabling more feed for increasing fish production with minimal investment.
The proprietary substrate used in the system can be sold as a stand-alone product for a range of water treatment applications.
In 2018, BioFishency will begin testing eFishe, an electrochemical-based technology for a new product line of filtration systems. The first application of eFishe will involve transporting live fish/crustaceans. The advantages of this new technology —
Patent in National phase (China, India, Israel, Europe, Brazil)
2018 sales: ~$1.3 million (2.4x 2017 sales)
Installations: BioFishency continuing to operate effectively with increased sales around the world, including China, Indonesia, Singapore, India, Bangladesh, Nigeria, Congo, Israel, and others
Distribution agreements: Bangladesh, India, Taiwan, China; cooperation with several strategic partners
See the BioFishency product animation.
CTO Igal Magen on Israel Daily TV
CTO Igal Magen at the 7th Trendlines Showcase
More than 13 years of experience in aquaculture in Israel and abroad; consultant and project manager for projects in Africa; former head, Aquaculture Division, Israel’s Ministry of Agriculture
18 years in aquaculture in Israel and abroad; consultant and project manager for fish farms and industrialization of aquaculture in Israel, Azerbaijan, Turkey, Nigeria, and Ivory Coast, independently and through Israel’s Ministry of Agriculture
Career sales professional with more than 20 years of involvement in sales and business development; a powerful business driver whose entrepreneurial instincts and clarity of vision have carried multiple companies through rapid and continuous growth; previously, worked in the UK as General Manager of EIL, followed by 12 years as VP Sales and Marketing in the thriving Israeli high-tech industry, where in his last position, served as Marketing and Business Development Manager for 9 years at Rafael Advanced Defense Systems
Around the world, the demand for fish is increasing, while the supply from the sea and natural fisheries has stagnated. Aquaculture, the farming of aquatic organisms for profit, is becoming an increasingly important source of animal protein. Yet, with the limited availability of land and water, the only way for aquaculture to meet the growing demand is intensification: producing more fish per unit of area and water.
Technologies that improve water quality are required for intensification. Current water treatment systems support high fish densities; but are complex and very expensive, making them accessible to only the small segment of high-end growers. Most aquaculture production still takes place in developing countries in extensive growing systems (e.g., ponds and reservoirs) with no technology. Even doubling the production capacity of these systems would significantly increase farmer incomes and contribute to food security. The challenge is to develop cost-effective technology for this under-served market.
According to the FAO 2016 report, “State of the World’s Fisheries and Aquaculture,” aquaculture is the fastest-growing sector in animal protein production with a market value of $135 billion in 2015. Sixty-two% (62%) of food fish will come from aquaculture by 2030 (FAO, “FISH TO 2030 Prospects for Fisheries and Aquaculture”).