Abagold is a commercial abalone farm located in the new harbour of Hermanus in the Western Cape, South Africa. The Company has been successfully producing abalone for the Asian market for the last 10 years. Operations have been continuously improved and scaled up to a point today where Abagold successfully harvests a couple of hundred tons of the highest quality abalone per annum, exclusively exported to the Far East.
The management team at Abagold has a deep understanding of abalone farming and is accordingly incentivized to ensure the Company remains the industry leader. The 240 staff employed are trained and their skills upgraded on a continuous basis to ensure that the highest standards of animal management techniques are practised.
Evolution One Fund has deployed expansion capital to grow operations using an innovative and cleaner farming technology. The transaction will facilitate the empowerment of the local community through the funding of an employee trust and will contribute towards protecting an increasingly endangered South African species from extinction through promoting sustainable mariculture practices.