Luther advises Singapore Aquaculture Technologies on Siemens' investment

Singapore – Singapore Aquaculture Technologies (SAT) Pte Ltd has secured a Series A financing round totalling SGD 9.2 million (approx. EUR 5.8 million). A major part of the investment is provided by Siemens Financial Services (SFS) via Siemens Project Ventures GmbH.


Singapore Aquaculture Technologies (SAT) Pte Ltd, a sustainable aquaculture company, focusing on data and AI-driven processes and analytics, is considered a pioneer in utilising closed containment systems for fish farming. As SAT's first institutional shareholder, the investment from SFS, financing arm of global technology company Siemens AG, represents a significant minority stake in the company. SAT had already been able to win Siemens Digital Industries as a technology partner in 2020.

The two founders, Dirk Eichelberger and Michael Voigtmann, view Siemens' entry as a confirmation of their strategy to become the leading supplier of data and artificial intelligence (AI)-driven aquaculture solutions, in addition to producing premium fish products under their BluCurrent label. The aim is to support sustainable food production and help Singapore achieve its "30 by 30" goal of 30% local food production by 2030.

About Singapore Aquaculture Technologies Pte Ltd:

Singapore Aquaculture Technologies is a sustainable aquaculture company, focusing on data and AI-driven processes and analytics.

In aquaculture SAT has been a pioneer for tank based closed containment systems on floating structures. It has also set up a digitized smart floating fish farm that incorporates a high degree of automation, self-regulated control cycles and AI elements next to a farm management information system.

On behalf of Singapore Aquaculture Technologies Pte Ltd:

Luther, Corporate/M&A (Singapore): Dr Knut Unger (Partner), Dr Thomas Hufnagel (Partner), Clemens Leitner (Senior Associate)