125.000€ | 5,20% YEARLY INTEREST | 2 YEARS (with 6 months reimbursement grace period) THE PROJECT Oysterworld is an oyster farming company with a production area of 18 ha in Setúbal. Oyster farming has proven its positive environmental impact due to its water purifying and carbon capturing properties. The project is very relevant to the Portuguese sea related economy, diversifying its exploration beyond tourism and highlighting the importance of the Portuguese maritime territory which accounts for 97% of the country’s total territory. Oyster farming commonly uses traditional methods including a labour intensive approach, however Oysterworld will use technologically innovative methods and equipments that will not only assure its competitiveness in an expanding market, but also assuring dignified working conditions and a better quality of its product. With the main goal of expanding its productive capacity to 360 tonnes per year, Oysterworld looks to invest in new production equipment which has been tested abroad and will help the company to differentiate from its competitors through the “rotational” bags system. In addition and to support this new equipment, they will also be investing in: - The deepening of tanks - Installation of floodgates - A warehouse and security facilities - Installation of solar panels and a generator - Other support equipment (dredger, backhoe, oyster tables, calibrator, amongst others) The project’s global investment is 2,1 M€, which will be carried out during 2019 and 2020. This investment will be mostly financed by a non-repayable fund of 1,07 M€ from Mar 2020. Due to the fact that Oysterworld does not control the timings of Mar 2020 funding, the company is setting up a group of crowdlending campaigns, this being the first of what will be a total of 1 M€, serving as advance payments for the Mar 2020 funds. THE IMPACT Why farming oysters is sustainable and good for the environment (in Independent) Oysterworld's expansion project is directly related to the United Nations Sustainable Development Goals (SDGs), which we follow for our projects technical assessment. SDG 14 – Life Below Water - Oyster farming improves water quality by acting as a filter: a single oyster filters on average 55 litres of water a day - It reduces the need for extractive fishing - It does not interfere with the natural stocks, nor it does it use antibiotics, medicines or animal feed - The productive structures work as a refuge to several species, against human and natural predators SDG 13 – Climate Action Oyster farming has a positive impact in the marine environment, by capturing CO2, nitrogen and phosphorus absorbed by the sea in the oyster shell formation and, as a consequence reduces the oceans’ acidification. SDG 8 – Good jobs and Economic growth Oyster farming provides fixed employment throughout the whole year in an area (agriculture) where the employment is mostly seasonal or temporary. Due to the fact that Oysterworld shareholders, both with tertiary education, have worked for 6 years in oyster production, they acknowledge the difficulties associated with the job and work towards: - The mechanisation of work in order to reduce their employees physical wear and to increase their productivity - Paying wages above the national minimum (the minimum wage is often associated with this sector) - Encouraging employees to think by themselves, be autonomous and capable of solving problems. Risk minimization and guarantees This loan is secured with the personal guarantees of the company's shareholder Francisco Bernardino. What if the campaign does not reach 100%? In the event of the campaign not raising the total amount foreseen, it is up to Oysterworld to decide between: - Co-financing the remainder, continuing with the project and the regular payment plan to their investors - Do not continue the project, with investors being reimbursed in the total amount of their investments INFORMATION FOR THE INVESTOR (IFIFC) PROMOTER'S DESCRIPTION Oysterworld is a bivalvia farming company, namely oysters, with an area of 18.12ha for commercial activity in Setúbal (Cannes, Alcaçarenha, Cobelos). It was founded in 2013, by the current shareholder and Head of Production, Francisco Bernardino. Together with his partner and Commercial and Financial Director, Lopo Rocha, they have more than 10 years of experience in the farming oysters. Francisco holds a Master in Marine Biology and has always worked in the sector, having developed several consulting projects and participated in 2 aquaculture startups. Along his journey, he had the opportunity to develop offshore production projects, develop aquaculture viability studies, oyster production circles, to name a few. Francisco has also worked in Direção Geral das Pescas (General Fisheries Comission) for 11 years. Lopo Rocha is a graduate in Information Management and has worked in the sector for almost 20 years. Entrepreneur by nature, Lopo has produced bivalvia for 4 years. The company is one of the most innovative in the sector in Portugal, exporting most of its production to countries like Spain, France and the Netherlands and has an independent strategy regarding their clients by never relying on one single client for anything more than 20% of the company’s sales.
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GoParity is the first Portuguese crowdlending platform focused on sustainability projects. People and organizations lend money to the promoters of projects that aim to solve at least one of the UN Sustainable Development Goals. Since April 2017 GoParity has funded 18 projects - from renewable energy production to energy efficiency and sustainable tourism - and raised more than one million euros.
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