Ocean Harvest

What Ocean Harvest does

Ocean Harvest is an Abu Dhabi-headquartered, pre-revenue aquaculture developer founded in 2021 by Robert Kupstas (co-founder of Pure Harvest Smart Farms) to produce land-based Atlantic salmon in the UAE. The company is building a 100,000 square metre Recirculating Aquaculture System (RAS) facility in Ras Al-Khaimah, targeting Phase 1 output of approximately 3,500 metric tons of Atlantic salmon per year, with operations planned for 2026 and first harvest in 2027. Its core product is fresh, regionally produced Atlantic salmon for GCC and Asian import-substitution markets, sold through wholesale, retail, and HoReCa channels once the facility is operational.

The business model is asset-heavy and project-finance oriented: Ocean Harvest finances, constructs, and operates land-based salmon farming infrastructure, monetising biomass via per-kilogram wholesale pricing into regional supply chains currently dominated by Norwegian and Chilean air-freighted imports. Capital is being assembled via staged equity rounds — a $2.1 million pre-seed closed in 2023 and a targeted $180-200 million facility-financing round — supported by a technical stack of partners including Suez (RAS technology), BESIX and Tech Group (construction), and Heidrick & Struggles (executive search). The board includes Pure Harvest CEO Sky Kurtz, Anil Mehta, William Sirignano, Franck Boissinot, and David Trench, with aquaculture advisors Ian Summerfield and Bjorn Myrseth; Jawad Jamil was appointed CEO in 2023.

Management's stated financial trajectory projects approximately $35.6 million in revenue by 2028 and $43 million by 2030, implying realisation of near-full Phase 1 throughput at assumed wholesale pricing. Execution risk is concentrated in three vectors: closing the $180-200 million capital raise, biological performance of the RAS at commercial scale, and operating-cost competitiveness versus imported salmon landed into the same end markets. Until facility commissioning, the company has no revenue, no disclosed offtake contracts, and no completed customer agreements.

Name

Ocean Harvest

Legal name

Ocean Harvest, Ltd.

Website

https://oceanharvest.com

Company type

Private

Founded year

2021

Operating status

Operating

Short description

Ocean Harvest is a UAE-based land-based Atlantic salmon aquaculture developer building a 100,000 sqm RAS facility in Ras Al-Khaimah, targeting GCC and Asian import-substitution markets with first harvest in 2027.

Ownership category

akta.pro rank

Product category

Land-Based Aquaculture

NAICS

Finfish Farming and Fish Hatcheries (112511), Aquaculture (11251), Seafood Product Preparation and Packaging (31171)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092), Food And Kindred Products (2000)

akta.pro primary industry

Recirculating Aquaculture Systems (RAS) & Land-Based Farming (AFAEAAAG)

akta.pro secondary industries

Aquaculture Processing & On-Farm Value-Add (primary handling, icing, packing) (AFAEAAAN), Aquaculture Harvest, Processing & Packing (Farmed Finfish/Shellfish; On-Farm Plants) (AFANADAL)

Keywords

• Land-based aquaculture
• Atlantic salmon farming
• Recirculating aquaculture systems
• Sustainable seafood production
• RAS technology

Headquarters

HQ city

Abu Dhabi

HQ country

United Arab Emirates

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Atlantic Salmon Product Sales: Ocean Harvest generates revenue by producing and selling locally-grown Atlantic Salmon to consumers and businesses in the UAE and broader GCC region. The company sells fresh salmon directly, with same-day or next-day harvest and delivery. Revenue projections indicate $35.6M by 2028 and $43M by 2030 at planned capacity.
2. Infrastructure Investment Capital: The company raises equity and debt capital from strategic investors, sovereign wealth funds, impact investors, and infrastructure investors to fund the construction of land-based aquaculture facilities. Pre-seed funding of $2.1M was raised, with plans to raise $180-200M for the inaugural facility.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Ocean Harvest designs, builds, and operates climate-agnostic, land-based aquaculture facilities using proprietary Recirculating Aquaculture System (RAS) technology and bespoke wastewater treatment to produce Atlantic Salmon locally in the UAE. The company sells fresh, locally-grown Atlantic Salmon directly to consumers and businesses with same-day or next-day harvest and delivery, eliminating air-freight and middlemen associated with traditional imported supply chains.

Product overview

Ocean Harvest operates as a single-product land-based aquaculture company that produces local Atlantic Salmon in the United Arab Emirates. The company leverages proprietary Recirculating Aquaculture System (RAS) technology to enable climate-agnostic, year-round production of Atlantic Salmon. The product portfolio consists of one core offering: Atlantic Salmon, which is grown in their high-tech indoor farms and sold directly to consumers, offering superior freshness with 3-4 days longer shelf life than imports.

Differentiator

Problem solved

Functional benefit

Products and services

• Atlantic Salmon Fresh, locally-grown Atlantic Salmon produced through climate-agnostic, land-based aquaculture using Recirculating Aquaculture System (RAS) technology. Marketed as sustainable, fresher, cleaner, and more nutritious than imports, with same-day or next-day harvest and delivery for ultimate freshness, certified parasite-free, and 3-4 days longer shelf life than comparable imports. Sold directly to consumers and retailers in the UAE and broader GCC region.

Quantifiable outcome

• 30,000+ tonnes per year reduction in carbon dioxide emissions through localized production eliminating air-freight imports
• +5 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Suez (RAS Technology Provider)coreTechnology or IntegrationFrench company Suez provides recirculating aquaculture system (RAS) technology for Ocean Harvest's facilities. The RAS systems recirculate and clean water from fish tanks every 30 minutes, enabling salmon production in the UAE's hot, humid climate.
• Heidrick & StrugglesminorImplementation/ SI/ Consulting PartnerLeading executive search firm Heidrick & Struggles led the multi-month CEO search that resulted in the hiring of Jawad Jamil as CEO and Co-founder of Ocean Harvest.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Mowi ASA: World's largest Atlantic salmon producer with traditional sea-cage farming and growing interest in land-based. Relevant incumbent for benchmarking salmon economics, customer channels, and competitive responses to land-based entrants.

Direct peers

• Salmon Evolution: Norway-listed land-based Atlantic salmon RAS producer with hybrid flow-through/RAS technology. Directly comparable on species, technology approach, and target market premium salmon category.
• Atlantic Sapphire: US-based (Miami, Florida) land-based Atlantic salmon producer using RAS technology — the most direct operational comparable to Ocean Harvest. Bruno Sardenberg, Ocean Harvest's Director of Production, previously served there as Director of Aquaculture Engineering.
• AquaBounty Technologies: Land-based salmon (and trout) producer using RAS technology with genetically optimized stock. Directly comparable on technology stack and commercial-scale land-based aquaculture execution profile.
• Andfjord Salmon: Norwegian land-based Atlantic salmon producer using flow-through technology in natural coastal sites. Comparable in species focus and premium salmon positioning, with similar regulatory and biological execution profile.
• The Kingfish Company: Netherlands-listed land-based RAS producer (yellowtail/kingfish instead of salmon). Highly comparable on technology platform, modular facility design, and premium seafood direct-to-market strategy.
• Nordic Aquafarms: Land-based Atlantic salmon RAS developer with projects in the US (Maine) and Europe (Fredericia, Denmark). Comparable in species, technology, and import-substitution thesis targeting premium regional markets.
• Sustainable Blue: Canadian land-based Atlantic salmon RAS producer in Nova Scotia. Directly comparable on species focus, technology platform, and commercial-scale land-based execution.
• Pure Salmon: Global land-based salmon RAS project developer building facilities across multiple geographies. Directly comparable as a multi-site land-based salmon platform pursuing import-dependent regional markets.

Emerging players

• Pure Harvest Smart Farms: GCC-region controlled-environment agriculture (CEA) leader co-founded by Ocean Harvest's founder Robert Kupstas. Sister company in regional climate-agnostic food production — shares leadership, investors (Sky Kurtz, BESIX-adjacent networks), and UAE food security thesis.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ocean Harvest