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Pontus Research founder and chief executive Jack Jones pictured at the company's stand at the European Aquaculture Society conference in Valenica in September.

Aquaculture research equipment up for sale after Pontus insolvency

Assets include research-scale RAS setups and research-to-pilot scale feed mill machinery

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South Wales-based aquaculture contract research organisation and consultancy Pontus Research has closed and put its equipment up for sale after almost 11 years in business.

Pontus, which offered nutrition trials, feed manufacturing, and R&D services, announced on LinkedIn that it had ceased trading on November 21 following the recent closure of its subsidiary in Singapore.

“We are deeply grateful to everyone who stood with us until the very end - especially those who worked tirelessly in the final week to wrap things up. Your professionalism during a difficult time speaks volumes,” wrote the company.

“To our clients, we valued being part of your journey. While we worked hard to close projects cleanly, we know endings are never perfect. Thank you for your understanding.”

Creditors

Pontus said all identified creditors have been passed to its insolvency practitioners.

Those who believe they are owed money by the company and haven’t been contacted by December 10 are asked to contact Jack Barker at financial services company Begbies Traynor Group.

Pontus owned research-scale recirculating aquaculture system (RAS) set-ups, histology and haematology lab equipment, and research-to-pilot scale feed mill machinery which is being offered for sale by Jason Hall at Lambert Smith Hampton.

“From every ending comes new beginnings, and we would love to see the body of assets we have built up have a new life serving the industry,” wrote Pontus.

Struggled after Covid

Pontus was founded in 2015 and by late 2019 it was able to complete a ÂŁ1.2 million private equity raise to expand facilities and service offers, according to a report from Aquafeed.com. The expansion included a pilot-scale feed mill, enabling the Pontus team to design, manufacture, and test experimental feeds both in-house and for external clients.

But the Covid pandemic created an unpredictable environment that left the company struggling.

“I founded Pontus Research to add a much-needed service provision to the industry, and hopefully, we helped our clients reach their targets and left some kind of impression on the industry. It hasn’t ended the way I had hoped, but let’s see what the next chapter brings,” chief executive Jack James told Aquafeed.com.