Cadman Capital takes stake in urchin business

Cadman Capital Group has taken a strategic equity stake in Urchinomics, a pioneering aquaculture venture that turns ecologically destructive sea urchins into valuable seafood as well as restoring and establishing the world’s dwindling kelp forests.

Thriving kelp forests are important not only in terms of helping to protect biodiversity in the ocean, but also because they tie up large amounts of carbon which would otherwise contribute to global warming. Growing sea urchin populations threaten the kelp, however by overgrazing and creating so-called “urchin barrens”.

Urchinomics aims to reverse this destructive process by removing the urchins and raising them in land-based aquaculture facilities, creating employment for local fishers and producing high-value, gourmet seafood as well as restoring the ocean environment.

It was announced in December that Urchinomics has secured the world’s first kelp restoration blue carbon credit, issued after a successful research project in Kunisaki and Nagato, Japan.

Cadman, a family office and alternative asset investment firm, already owns the largest licensed urchin aquaculture facility in Canada, Quoddy Savour Seafoods, which ran a pilot study for Urchin ranching with Urchinomics in 2022. Cadman’s involvement will allow Urchinomics to progress ranching for the North American market, and will allow kelp restoration to start across the Bay of Fundy and the East Coast.

The Group is an established investor and operator in restorative aquaculture with over 20 years of experience in the development of ground-breaking processes within on-land lobster and oyster hatcheries. Cadman Capital Group’s involvement will allow Urchinomics to accelerate its growth plans across its operations in North America, Japan and Europe.

Giles Cadman, ecopreneur and founder of Cadman Capital Group said: “Urchinomics is a tremendously exciting business. They share our passion to develop nature based solutions to tackle the fight against climate change and help heal our ocean’s. We have long recognised that solutions need to focus on the holistic restoration and the sustainable improvement of marine ecosystems, allowing the creation of stronger biodiversity that helps the planet. Urchinomics’ core model of restorative aquaculture is synergistic to our current operations, particularly within lobster production, and we look forward to supporting Brian and the team to accelerate their operations globally.”

Brian Tsuyoshi Takeda, founder and CEO of Urchinomics said: “Cadman Capital Group’s involvement in Urchinomics is a milestone moment for us. It recognises the intrinsic value we have already created, and evidences the strength of our philosophy of harnessing the power of the natural world to help reverse some of the negative ecological and economic impacts we are seeing today.

“Their scientific and operational experience in restorative aquaculture means we can now move forward with an aligned mission to improve ocean health. It signifies the start of the next stage of our growth plans and to further our efforts in developing systems that can truly make a difference to the future of our planet.”

Giles Cadman (left) with Brian Takeda