Latest news with #BordIascaighMhara
Business Post
3 days ago
- Business
- Business Post
Ireland's aquatech sector is making waves
A key pillar of Ireland's seafood economy is the aquaculture sector, which reported value growth of 25 per cent and volume growth of 4 per cent last year, according to the latest Business of Seafood report by Bord Iascaigh Mhara (BIM), Ireland's seafood development agency. With a total value of €211 million – of which salmon accounted for €142 million last year – Ireland is establishing a reputation for high-quality aquaculture, although the sector has a long way to go to catch up with the likes of Norway, or international powerhouses like China or Chile. Where Ireland does have the potential to make a global impact, however, is in aquatech. In 2023, BIM declared that Ireland has the potential to become the 'Silicon Valley of the aquatech industry', such was the level of investment taking place in the nascent sector. Two years on, that momentum has shown no signs of slowing, according to Caroline Bocquel, chief executive at BIM. 'The Irish aquatech sector started at zero five years ago, and is now worth about €165 million,' she explained. 'What we've seen is that companies that have come through in the sector have spent one or two years in their startup phase, then moved on to Series A and Series B funding. Now they're really taking off.' Aquatech covers a broad range of services, including marine engineering, genetics, feed additives, bioscience, health solutions and digital technologies, with much of the innovation in this sector supporting global salmon and shrimp farming, as well as domestic shellfish and seaweed operators. As global demand for sustainable aquaculture continues to gain pace, Ireland is well-positioned to capitalise. 'There's a limit to the amount of aquaculture that Ireland can produce, but there's a €300 billion international aquaculture industry that we, as a country, can support,' said Bocquel. 'Aquaculture is relatively new – it's only about 50 years old as a sector – and it's moving at pace in terms of using technology to make farms more efficient, improve survivability, disease resistance, etc. We now have a stable of companies that are able to provide that technology, at a global level, and that will continue to grow over the coming years.' BIM has been investing in the aquatech industry for the past six years, and currently supports more than 70 companies in the sector, a figure it expects to grow exponentially. The Irish aquatech sector started at zero five years ago, and is now worth about €165 million BIM recently announced details of its 2025 Aquatech Innovation Studio, in partnership with Hatch Blue and backed by the European Maritime, Fisheries and Aquaculture Fund (EMFAF) – a six-day programme to support early-stage aquatech startups. The initiative provides mentoring, investor training and technical development, providing a springboard for aquatech innovation. Auranta ( is an example of an Irish business that has gained an international footprint in the aquatech sector. The Dublin-based biotech company, which develops fish feed to bolster the immunity and gut health of species like shrimp and salmon, was awarded the BIM Aquatech Business of the Year award in 2024. 'There's a huge opportunity in this space, as we can offer a test bed for new technologies in our farms, ahead of their deployment internationally,' says Bocquel. 'Ireland has successfully grown businesses in other tech sectors – we see an opportunity to replicate this in aquatech.' As well as mentoring services, BIM assists Irish aquatech firms in accessing venture capital ('we hold their hand for the first three or four years') until they become self-sufficient and more established in their funding rounds. The net result is little short of astounding. Bocquel admits that she is 'blown away' by the level to which businesses in the sector have matured in such a short space of time. 'Watching them talk about their business makes you think, 'Oh my God, why didn't anyone else think of that? That's brilliant',' she said. The application process for the BIM Aquatech Innovation Studio is open until 18 July, with the studio running from October 13 to 18. Details are available at
Irish Examiner
30-05-2025
- General
- Irish Examiner
HSA to begin inspections on sea fishing sector with view to reducing high fatality rate
The Health and Safety Authority (HSA) is to begin targeted sea fishing inspections to ensure measures are in place to keep crews safe. There were 24 deaths in the fishing sector between 2015 and 2024 which, based on the numbers employed, makes sea fishing the most dangerous sector in which to work in Ireland. From next Tuesday HSA inspectors will evaluate vessels at major fishing ports, including Killybegs, Castletownbere, Dunmore East, and Kilmore Quay. The Bord Iascaigh Mhara (BIM) Labour Force Analysis shows the Irish fishing sector employs nearly 2,700 workers and operates a registered fleet of just under 2,000 vessels. Ger Hartnett, senior inspector with the HSA, noted that fishing is a high-risk occupation, with workers exposed to tough and perilous conditions. He emphasized that proper planning can greatly lower the risk of serious accidents. 'Preparing for emergencies and equipping vessels appropriately ensures that crews are ready for any challenges,' he said. He also urged skippers and boat owners not to take safety for granted. He highlighted a rare working environment where operators handle machinery on wet and shifting platforms. "It is vital that skippers and boat owners manage the risks and put the necessary controls in place to protect themselves and their crew. Don't just assume that you will know what to do when in an emergency. Plan for it,' he added. Key hazards faced by those working in sea fishing include confined space work, exposure to biological and chemical agents, electrical shock risks, falling overboard, capsizing, manual handling, and fatigue from prolonged hours at sea. By law, a risk assessment and safety statement must be prepared for every vessel. This process should assess the risks in advance thereby helping to avoid the very serious incidents which occur each year in the industry.
RTÉ News
20-05-2025
- Business
- RTÉ News
Seafood economy worth €1.24 billion in 2024
A Bord Iascaigh Mhara (BIM) report has found the value of Ireland's seafood economy increased to €1.24 billion last year, an increase of four percent compared to 2023. The increase was largely driven by a nine percent increases in exports, a three percent increase in domestic sales and an 11 percent increase in landings to Irish ports. The top three countries for seafood exports last year were France, the UK and Italy. France was Ireland's largest market for seafood exports, valued at €141 million with Irish organic salmon, oysters and crab the top three species exported. BIM said investments in processing technologies, stronger exports, and record prices achieved for mackerel contributed to last year's growth. A 44 percent increase in the value of Irish organic salmon sales last year contributed to an overall value 25 percent increase for the aquaculture sector. However, certain sectors experienced a challenging year, particularly rope mussel producers in the south west and rock oyster producers. Retail seafood sales in Ireland increased by three percent to €333 million. Some 93 in every 100 Irish households bought fresh or frozen seafood last year, lower than the 2017 peak result of 97 per cent. 'A key economic driver' The Bord Iascaigh Mhara Business of Seafood report was launched by Minister of State for Fisheries and the Marine, Timmy Dooley, who acknowledged the volatility of the trading environment. Minister Dooley said investments made under the Brexit Adjustment Reserve and further planned investment are laying strong foundations for the sector. "The seafood industry provides employment for almost 17,000 people. It is a key economic driver in our coastal communities. "I understand the pressures industry are facing and the key role they play in food security and the provision of healthy and sustainable food," Minister Dooley said. BIM CEO Caroline Bocquel said the latest Business of Seafood report demonstrates the sector's resilience and capacity to adapt as markets continue to shift. She said targeted supports and investment in the €258.4 million Seafood Development Programme 2021-27 are driving innovation and strengthening the sector's position. The seafood processing sector generated €947 million in turnover and supported more than 3,200 jobs last year. BIM said while the processing sector's overall value decreased slightly last year - investment continued to drive energy efficiency, automation, and product innovation. The BIM report shows the fishing sector's is heavily dependent on two species - mackerel and Dublin Bay Prawns accounted for almost half of landings' value last year. BIM said quota cuts and rising costs continue to affect the fleet, however they said improved demersal quotas in the north west were among positive changes. EU-UK fishing deal fails Ireland - fish processors Meanwhile, fish producers say the EU's announcement yesterday that it plans to extend the current post-Brexit UK fishing deal to 2038 without changes is "a serious concern to coastal communities". The Irish Fish Producers Organisation (IFPO) is calling on the Government to meet the EU Commission to address quota issues. The IFPO said as part of the Brexit Trade and Cooperation Agreement five years ago - 40 percent of the total value of EU quotas transferred to the UK was from Ireland. CEO of the IFPO Aodh O'Donnell said: "there was no justification first time round for Ireland to be singled out to pay such a high price for the UK fishing agreement". "There is even less reason now, as we have loudly and clearly outlined how damaging this deal was for Ireland. It has already cost our industry an estimated €180 million to date. "The deal announced largely extends the unbalanced EU fishing quota and access arrangements for 12 years to June 2038." Mr O'Donnell said the IFPO supports the Fisheries and Maritime Minister Timmy Dooley, in his ongoing work. They are calling on MEPs and officials to demand "a fairer deal for Ireland before the new agreement is due to come into effect next year". He has welcomed the statement from Irish MEP Nina Carberry, who called for a level playing field for Irish fishermen from the EU-UK Summit. Ireland holds about 12% of EU waters and it is allocated less than 6% of fishing quotas, which fishing leaders say is inequitable. Mr O'Donnell said the maintenance of the Brexit deal is "a disaster" - especially for the Mackerel and Dublin Bay Prawn fleets. He said the mackerel fleet lost 26% of their quota and the Dublin Bay Prawn fleet lost 15% of its quota as part of the 2020 Brexit deal. "Europe failed to apply the principle of relative stability underpinning the Common Fisheries Policy with the Brexit deal which is now being extended. "We're call for a re-balancing of the Brexit burden. This requires an internal redistribution of the quotas, or this fundamental inequity will be locked in for 12 years," Mr O'Donnell said.
