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Key people at Indian Ocean Trepang.
Indian Ocean Trepang specializes in industrial aquaculture of sea cucumbers using an exclusive in-vitro fertilization technique developed in Madagascar. The company breeds and exports sea cucumbers, partnering with local fishermen to provide additional income and combat overfishing by preserving marine wildlife. It currently employs 152 individuals, comprising 77 permanent staff and 11 technicians/managers. Key investors include IETP, which has supported the company since 2012, and Aqua-Spark, co-founded by Mike Velings and Amy Novogratz. In 2017, Michel Louvet acquired 75% of the company's shares. Indian Ocean Trepang was officially established in 2011 by founders Jaco Chan Kit Waye and Olivier Méraud. Its business model centers on breeding and export of sea cucumbers, funded through capital investments from investors like IETP and Aqua-Spark.
Key people at Indian Ocean Trepang.
Indian Ocean Trepang (IOT) is a Malagasy aquaculture company based in Toliara, Madagascar, specializing in the industrial breeding and export of high-value sea cucumbers, particularly the sandfish (*Holothuria scabra*), for Asian markets like China, Hong Kong, Singapore, South Korea, and Japan.[1][2][4] It produces around 200 tons of live sea cucumbers annually, processed into 8-9 tons of premium dried trepang, serving culinary, cosmetics, and health industries while empowering local communities through jobs, outgrower programs for smallholders, and sustainable practices that combat overfishing.[1][2][4] With 152-227 employees (including 77-143 permanent staff), IOT operates on a 40-96 hectare site, maintains a 15,000-breeder stock, and cultivates 450,000 sea cucumbers yearly, generating steady income for fishermen and preserving marine ecosystems via natural waste-fed farming.[2][3][4]
IOT was founded on October 8, 2011, by entrepreneurs Jaco Chan Kit Waye (Manager of Copefrito SA, founder of squid exporter Copefrito in 1995, and Chairman of the Seafood Export Companies Association) and Olivier Méraud (operational officer at Copefrito since 2004, former Merchant Navy captain with 12 years in fishing/seafood, founder of Madagascar Seafood in 2005).[2][3] The idea emerged from two decades of research via Madagascar Holothurie, building on trials that led to IOT's creation with shareholders including Copefrito and Madagascar Seafood; it secured a Dutch PSI project and French investment fund support.[3] Early challenges included high costs and scaling issues, with first exports of 3.4 tons (dry weight) in 2017, reaching break-even in 2020 at 7 tons amid overestimation of hatchery/nursery/grow-out profitability.[3] Investisseurs et Partenaires (I&P) joined in 2012 for capital investment to build farm sites and improve GIS, launching full operations around 2013.[2]
IOT rides the wave of marine permaculture and blue economy trends, addressing overfishing in coastal regions through climate-adaptive ocean farming in Food, Agriculture, Land Use, Coastal & Ocean Sinks sectors.[1] Timing aligns with global demand for sustainable seafood amid depleting wild stocks, especially high-value trepang in Asia, while Madagascar's marine potential (e.g., Toliara's culture) drives local growth; market forces like export needs favor its intensive methods over wild harvest.[2][4] It influences the ecosystem by pioneering private-sector aquaculture models, inspiring village-level scaling (e.g., algae via Ocean Farmers), fostering economic empowerment in underserved areas, and contributing to marine repopulation—positioning Toliara as a hub for sustainable marine ventures.[3][4]
IOT's trajectory points to expanded capacity, leveraging break-even momentum and investor support to upscale beyond 9 tons dried trepang amid rising Asian demand and blue economy investments.[3][4] Trends like climate adaptation, sustainable protein alternatives, and community-driven agtech will shape it, potentially replicating its pilot across Madagascar or similar regions while deepening NGO/tech integrations for outgrowers.[1][2] Influence may evolve from local pioneer to regional leader in ocean sinks, boosting profitability as scaling resolves early hurdles—reinforcing its role as a model for profitable, eco-friendly aquaculture that started with innovative trials in Toliara's sands.[3]
