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Merger to Spark Transformation in Aquaculture Industry

Barramundi Asia and Allegro Aqua announced in January 2020 that both companies will merge to combine resources and catalyse knowledge-based, sustainable practices in the Aquaculture industry.

Allegro Aqua, established in 2018 by a team of scientists from the Temasek Life Sciences Laboratory (TLL) and backed by Temasek Life Sciences Accelerator (TLA) merged with Barramundi Asia, one of the largest companies in the world in barramundi farming in the ocean.

As part of the merger, efforts and successes of R&D programmes undertaken by both Barramundi Asia and Allegro Aqua will be integrated. These include sustainable farming practices, selection of superior traits using genomics and marker-assisted breeding, autogenous vaccines, grow-out and downstream processing and global market reach into one value chain.

Andreas von Scholten, Chief Executive Officer at Barramundi Asia says, “Allegro Aqua’s expertise in life sciences research and innovation will empower Barramundi Asia to realise synergies from improved genetics.” He also shares that this merger will fulfil Barramundi Asia’s quest to make barramundi the “Salmon of the Tropics”.

Following the merger, the entity will be based in Singapore and commit to contributing to the “30 by 30” goals set by the Singapore Food Agency to ensure 30 percent food security by 2030 in Singapore. It will also continue to provide supply of vaccinated superior quality barramundi to local farms, boosting local production.

Additionally, both companies will leverage through this alliance, enhanced productivity, reduced mortality and improved feed conversion ratio. Using selected superior fingerlings, customised vaccines and operating across recirculating and bio-secure hatchery, nursery and grow-out pens on and near the Southern Islands of Singapore.

Allegro Aqua was set up by scientists from TLL was able to demonstrate their ability to scale up the production of an elite strain of the Asian Sea Bass, known as the St John’s Sea Bass, to achieve improved growth and survival rates. Currently incubated by TLA, seed funding is provided by The Lifesciences Innovation Fund (TLIF) and other angel investors.

Koh Soo Keong, Chairman at Allegro Aqua says, “TLL’s R&D support and TLA’s business development and operational roles have been instrumental in accelerating Allegro Aqua’s strong commercial potential and to reach out to important strategic partners like Barramundi Asia.” Mr Koh expressed his appreciation for TLA’s Entrepreneur-in-Residence Programme in their support to accomplish this vision. [APBN]