Irish aquaculture technology startup Nernst has secured USD 2 million in seed funding from Hatch Blue to accelerate the commercial development of its on-site oxygen generation technology for land-based fish farms.
The investment will support the construction of an on-farm demonstration unit to validate the system under real farming conditions. If successful, the company plans to move into commercial customer trials before raising a Series A funding round to scale the technology across the aquaculture industry.
Land-based fish farms require a continuous supply of oxygen to maintain fish health and support growth. Most farms currently rely on liquid oxygen delivered by truck or on-site pressure swing adsorption (PSA) and vacuum swing adsorption (VSA) systems, which can be expensive and difficult to manage, particularly in remote coastal areas.
Nernst’s technology produces oxygen with more than 99% purity directly from ambient air using ceramic membrane technology. The company says the system reduces operating costs, improves energy efficiency, and eliminates dependence on external oxygen supply chains while requiring minimal maintenance.
“For decades, the limitations of conventional on-site oxygen generation have held back productivity across industries, including aquaculture,” said Nick Farandos, Chief Executive Officer of Nernst. “Our reactor technology enables efficient oxygen production at any scale with near-zero maintenance and low operating costs.”
Hatch Blue said the investment reflects growing confidence in aquaculture technologies with applications beyond the seafood sector.
“Aquaculture continues to generate commercially attractive innovation,” said Carsten Krome, Managing Partner and Co-founder of Hatch Blue. “Nernst is a strong example of a technology developed for fish farming that also has significant potential across heavy industries.”
Originally joining the Hatch Blue portfolio in 2025, Nernst received pre-seed funding through the Hatch Accelerator Fund II and later participated in an aquatech innovation programme organised with Bord Iascaigh Mhara (BIM), Ireland’s seafood development agency.
Caitriona Kelleher, Managing Director of Early Stage Investments at Hatch Blue, said the company had rapidly progressed from a manufacturing concept to a working system ready for its first aquaculture deployment.
BIM Chief Executive Richard Donnelly said the investment highlights growing investor confidence in Irish aquaculture technology and its role in supporting sustainable global food production.
Beyond aquaculture, Nernst said its oxygen generation technology could also be applied in industries such as mining, steel manufacturing, and energy, where reliable, high-volume oxygen supply is essential.
