Seacorp

Seacorp Peru SAC (Seacorp) is a scallop farming company created in 2003 by two young Peruvian entrepreneurs passionate about the sea.

The company is a model of sustainable aquaculture practices as it neither pollutes water nor removes any natural life from the sea. Seacorp’s value chain is fully traceable, from embryo to exported scallop. They have developed a sustainable business model combining an innovative collaboration with local fishermen and the creation of a hatchery. Being able to produce larvae is a key element to reducing the pressure of scallop farming on local fragile ecosystems as it is the only alternative to the illegal and unsustainable practice of the collection of juvenile scallops in their natural sanctuary, a nearby island named Isla de los Lobos.

Seacorp has developed, on the pristine shore of the bay of Sechura, one of the three scallop hatcheries in Peru. Eggs are fecundated in a laboratory and fed with micro-algae one month before being introduced to the sea where they grow for two more months in a protected environment before being delivered to fishermen. The fishermen’s task is to then grow the scallops on the seabed for sixteen months. The company also grows its own scallops on an area of the bay to which it has concession rights.

Scallop fishermen traditionally live in hardship conditions with highly irregular income that is characterized by the poor maintenance and high mortality of their crops. Seacorp has developed a special relation with three groups of fishermen. These fishermen are provided with larvae and operate the maintenance and renewal of their crops in accordance with Seacorp’s high standards, bringing a significant rise in productivity and a constant flow of sales. In addition to a salary with benefits, Seacorp offers these fishermen a share in the revenues of their crops.

Once the scallops have reached their adult size, they are harvested by divers to be processed by nearby third-party plants, and are then exported by Seacorp in frozen containers to North America, Europe and Asia. Impact Finance provides Seacorp with working capital to expand its production with fishermen. A long-term loan is also being considered to scale up the marine and terrestrial infrastructure of the company.