PT Aqua co-founders Ian Sutton and Paul Coyne accepting the BIM Aquatech Business of the Year award from Caroline Bocquel, CEO, BIM, and Richard Donnelly, Director of Development and Innovation Services, BIM.
Ireland’s expanding aquatech sector – already valued at €165 million and supporting more than 900 jobs – is on the brink of growth, with potential for investment, the BIM Blue Ambition 2025 aquatech innovation conference heard.
The conference was told that the aquatech sector has grown from 42 companies in 2016 to 76 in 2023, and with investment and proper supports can create cutting-edge aquatech companies that will impact around the world.
Dublin-based PT Aqua was announced as the winner of the 2025 BIM Aquatech Business of the Year Award at the conference.
Minister of State at the Department of Agriculture, Food and the Marine, Timmy Dooley, T.D., told the conference – hosted by Bord Iascaigh Mhara (BIM) and Hatch Blue – “that Ireland has a tangible thriving aquatech sector with enormous potential, that is ideally placed to become a global centre of excellence for aquatech, with BIM supporting companies to develop technologies, scale up, and pursue new markets.”
Minister Dooley said. “Aquaculture is the fastest-growing food production sector in the world and that growth is fuelled by innovation. Irish aquatech companies such as Seaquest in Donegal, Aquamonitrix in Carlow and Weatherbys Scientific in Co. Kildare are leading the way in offering solutions to the many challenges that global aquaculture faces, providing services across the globe in countries such as Canada, Norway, Chile, Vietnam and Ecuador.”
“Through programmes like BIM’s Aquatech Innovation Studio, we are supporting ambitious companies to develop solutions that enhance seafood production, create high-value employment, and protect our marine environment.”
Sarah Jane Larkin, Director General of the Irish Venture Capital & Private Equity Association (IVCA) will tell the conference that Ireland is ideally positioned to become a global hub for aquatech innovation, thanks to the fact we are an island nation with a highly educated workforce and access to global markets.
“Ireland’s aquatech industry is expanding rapidly and is ripe for investment. Ireland has all the right ingredients to lead this next wave of blue innovation with the talent, technology and a collaborative approach.”
She said companies emerging from programmes like BIM’s Aquatech Innovation Studio demonstrate that “Ireland isn’t just participating in this space but is shaping the future of global aquaculture.”
She said historically that Ireland’s economic success has been dependent on foreign direct investment, but this is something that can expose us. She said we need to look at innovating and developing within the country, and investing in innovation is a key way to go.
PT Aqua provides bespoke, premium feeds for the global aquaculture industry. This includes a new soft feed with high moisture content and extended shelf life. The feed is valuable for species such as cod and halibut which often have difficulty adapting to new diets.
Richard Donnelly, Director of Development and Innovation Services, BIM, said PT Aqua is a shining example of aquatech companies leading the way in aquaculture solutions.
“As one of Ireland’s longest-established and leading aquatech companies, PT Aqua is a worthy winner of the BIM Aquatech Business of the Year Award 2025.
“As world leaders in nutritional products for marine and freshwater fish species across the globe, the team at PT Aqua are renowned for their expertise and customer service. Their focus on innovation and customer services sets them apart from competitors.”
Last week, BIM hosted eight high-potential start-ups at the Aquatech Innovation Studio 2025, delivered in partnership with Hatch Blue. The intensive six-day programme provided expert mentoring, investor readiness training, and access to Ireland’s growing aquatech ecosystem.
Richard Donnelly said the Innovation Studio has supported more than 60 companies in the last seven years, helping them scale sustainably, create more than 200 high-value jobs, and attract €16 million in investment.
“Ireland’s combination of research excellence, supportive policy, and investor engagement makes it one of the most attractive global locations for aquatech start-ups. The sector is on the verge of huge growth,” he said. “We have world-class research, government support, and a thriving innovation ecosystem which will redefine sustainable seafood production.”
He said €15 million investment from the Ireland Strategic Investment Fund in Hatch’s Blue Revolution Fund is an important platform to back early-stage aquaculture and aquatech ventures.