Stemcell United Limited (ASX:SCU) has signed a joint venture agreement with Blue Aqua International Pte Ltd to cultivate and farm sea grapes in Singapore on a commercial scale via the jointly incorporated company “SCU Green Aqua Farm Pte Ltd”.
Blue Aqua International is a one-stop solution provider for the aquaculture industry worldwide. The group provides cutting-edge solutions for the management of the aquaculture environment and the optimization of animal nutrition. Specialising in shrimp and fish farming – Blue Aqua International transfers its expert solutions to over 4000 customers worldwide and operates farms in Singapore and Indonesia.
SCU has successfully trialled the application of plant stem cell technology on Sea Grape cultivation at its research base located in the Marine Aquaculture Centre on St John Island, Singapore.
SCU CEO/executive chairman, Philip Gu, said SCU is now moving towards commercial cultivation through the creation of the joint venture with Blue Aqua. The joint venture combines the strengths of both parties in creating an integrated aquaculture farming system.
The collaboration aims to implement part of a scalable circular economy in aquaculture, with plans to promote the ocean vegetable’s unique qualities as a sustainable superfood and plant-based protein.
Mr Gu said that since 2009, Blue Aqua has been supporting the aquaculture industry with sustainable and environmentally friendly technologies, and is seeking to ensure sustainable food resources are available for future generation.
“SCU is honoured to be able to partner with Blue Aqua in making Sea Grapes available to the growing population on a commercial scale, and with the strong belief that Sea Grapes will become part of a recognised balanced diet mix.
“This partnership will further progress our efforts to make a substantial contribution to the Singapore Government’s “30 by 30” initiative, which aims to increase Singapore’s local food production from its current level of 10% to 30% by 2030. The Covid-19 pandemic has added additional urgency to Singapore’s food security concerns, which makes this joint venture even more compelling.”