The producer of Aquna Sustainable Murray Cod, Murray Cod Australia, says it has received firm commitments from domestic and offshore investors to raise $17 million, with proceeds used to expand production capacity and develop in-house sales and marketing capabilities.
MCA chair, Brett Paton, said the funds would be instrumental in accelerating the company’s growth.
“It will enable us to expand production capacity, invest in sustainable farming technologies, and strengthen our distribution footprint,” Paton said.
The placement will see MCA issue 17.9 million fully paid ordinary shares at 95 cents per share.
In FY25, MCA reported NPAT of $8.6 million, up from $6.2 million the prior corresponding period (pcp). The company said its 2.6 per cent year on year revenue growth was constrained by fish size, which is being rectified with biomass growth.
Its biological asset value grew 111 per cent, from $32.1 million in FY24 to $67.8 million, which MCA said reflected biomass maturity and the success of its growth strategy.
The company now has 128 ponds across four sites, with 4.8 million fish holding capacity at full utilisation.
“After three years of disciplined biomass investment and continued focus on the long-term growth strategy, MCA has successfully built the scale, infrastructure, and inventory required to now transition into sustainable cash generation, with FY26 marking the commercial inflection point,” the company said.
