Land-based salmon farmer secures $20 million funding
Published by The Fish Site · 11 Feb, 2019
Pure Salmon has secured US $20 million in funding for a 20,000 tonnes per annum, land-based salmon farm in Tazewell County, Virginia.

The US farm will be the company’s largest facility to date, and the financial assistance has been pledged by local development agencies.


The planned layout of Pure Salmon’s 20,000 tonne per annum facility in Virginia, USA

Pure Salmon already operates a land-based RAS farm in Poland and recently announced 10,000-tonne project in Japan. Meanwhile, in Europe, two locations are being considered for a further 10,000-tonne facility. The first is Boulogne-sur-Mer, a major fishing port on the northern coast of France. The second is Olbia in the north of Sardinia, Italy, a project which has attracted significant support at a national and local level, both politically and financially. The new sites will be fully integrated with on-site hatcheries, grow-out systems and processing facilities.

The facilities in Poland, Japan, the US and France/Italy will comprise phase I of Pure Salmon’s roll-out plans and contribute 40,000 tonnes of production to its 260,000-tonne global target.

The expansion of Pure Salmon’s sites across the US and Europe are part of the company’s aim to provide a socially responsible choice for consumers, the environment and the economy. The salmon will be reared in an uncontaminated environment with complete bio-security and will be close to areas of high salmon consumption, resulting in a longer product shelf life that is fully traceable and helps to keep carbon emissions and transport costs low.

After a positive assessment of its first fully operational facility in Poland, Pure Salmon was recognised for its sustainable production processes and elected by FishChoice as an official supplier member. Pure Salmon will subsequently register all its future facilities to be launched globally on the FishChoice platform. Pure Salmon has also been recognised by Ocean Wise as being sustainably produced.

Pure Salmon has been developed by 8F Asset Management, a global asset management firm focused on impact investing.

Stephane Farouze, chairman and founder of 8F, comments: “We’re delighted to be announcing further details of our plans to build large scale land-based Atlantic salmon farming facilities in the US and Europe. 8F is proud to be a sustainable investment business and we are looking to change the future of salmon farming with our ambitions growth plans for Pure Salmon around the world.”

 

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