Ava Ocean

About Ava Ocean

Ava Ocean, established in Ålesund, Norway, in 2016, is an ocean technology and seafood company addressing the destructive effects of traditional seabed harvesting. The company was founded by a team with deep roots in the fishing, offshore, and marine science industries, including Øystein Tvedt (CEO), Bernt Rogne, Sverre Farstad, Karl Fredrik Sandvik, Bjørn Roppen, and Jan Rogne. Tvedt, who has a background in economics and a history of entrepreneurship, co-founded the company to develop a method for accessing seabed resources without causing the environmental damage associated with dredging.

The company's business model centers on its proprietary harvesting technology, which enables the gentle and precise collection of seafood from the ocean floor. This system uses a combination of advanced water-flow pumps, camera technology, and AI to identify, select, and sort target species like Arctic scallops. It hovers above the seabed, carefully lifting the target catch into a basket while leaving smaller organisms and bycatch unharmed. This method contrasts sharply with dredging, which has been banned in Norway for approximately 30 years due to its harmful impact on marine ecosystems. By providing a sustainable alternative, Ava Ocean has been able to operate in previously closed fisheries.

A significant milestone was achieved when the Norwegian government granted Ava Ocean the first commercial quota for Arctic scallops in the Barents Sea in over three decades. The company commenced commercial operations in late 2022 with its specially refitted vessel, the 'Arctic Pearl', and has since been able to report positive profit margins. The scallops are processed and frozen onboard to ensure a premium product for the global market, which is estimated to be worth $2.5 billion. Revenue is generated through the sale of these sustainably harvested scallops, with partnerships in place for marketing and distribution. The company is also expanding its technology for use with other species such as sea cucumbers and sea urchins, and is involved in a kelp forest restoration project endorsed by the UN. With its new vessel, 'Artemis Arctic', Ava Ocean plans to increase its operational capacity.