Oxzo is expanding its oxygenation technology in Chile and beyond, thanks to a $25 million investment from venture capital firm S2G Investments, all in an effort to create a more sustainable aquaculture sector.
Launched in 2004, Oxzo develops fully automated oxygenation and aeration systems that infuse water with oxygen to help fish thrive, the company shared in a press release. The company offers a floating oxygen generation system, Oxymar, and a containerized onshore system, Oxymovil, designed to streamline the delivery of oxygen to fisheries.
Research has shown that infusing oxygen into water helps fish grow faster and healthier, while reducing mortality, Rafael Ariztia, chairman of fishmeal and fish oil producer Fiordo Austral and Oxzo, told AgTechNavigator. Oxzo’s technology has reduced fish mortalities by 24% and costs by 5% and increased biomass gains by 5-10% gain in Chile, according to the company.
“At S2G, we see aquaculture as a cornerstone of the global protein system, one that must evolve to meet rising demand while protecting ocean ecosystems. Oxzo’s innovations in oxygenation and aeration directly advance that goal by improving productivity, fish welfare, and aquatic environments at scale,” said Larsen Mettler, managing director of S2G’s oceans investment team, in a press release.
Chile’s brush with ecological crisis, spurs tech interest
With technology like Oxzo, Chile is securing its food system from potential environmental disasters, while supporting a major export market for the Latin American country, Ariztia explained. Chile’s 2016 brush with a red algae bloom that resulted in approximately $800 million of economic damage to the country, according to government data shared with Reuters.
Chile exported 782,076 tons of salmon and trout in 2024, worth $6.4 billion and making it the country’s third-largest export, according to Chile’s National Customs Service data. Over the last several years, Chile’s salmon and trout exports declined slightly, with total exports declining by 3.03% from 2022 to 2024, according to the government data.
Chilean cities, like Puerto Varas and Puerto Montt, have become hubs for the Latin American country’s fishing industry, with aquaculture innovation improving key metrics, Ariztia noted.
“It is much better now than it was 15 to 20 years ago. And you can see that in a very simple metric, [fish] mortality. Mortality in the Chilean salmon industry is much lower than in Norway,” Ariztia elaborated.
Oxzo’s expansion plans
Oxzo will use the S2G investment to expand its operations in Chile and globally, factoring in the specific needs of each region, Ariztia noted. The company is already operating in Canada and Norway, he added.
“This company really developed the industry of oxygenation [in aquaculture], and we have to do something similar in Norway. Conditions there are different. The oxygenation of their waters is different. The depth of their channels is different. There are a lot of different conditions and different practices,” Ariztia elaborated.
