Production of Taste of BC Aquafarms Facility Projected To Start in 2023
CAMPBELL RIVER – Nanaimo-based Taste of BC Aquafarms has submitted an application to the Department of Fisheries and Oceans for an aquaculture license for a land-based Recirculatory Aquaculture System (RAS) salmon farm.
Taste of BC Aquafarms, now a subsidiary of Miami-based Blue Star Foods Corp., is proposing a $35 million facility that will produce 1,500 metric tons of head-on, gutted steelhead salmon – the equivalent of 13 million meals – with construction anticipated to begin in the second quarter of 2023.
The proposed site is a 380-acre site co-located with a local distillery and barley farm that features abundant fresh water with capacity for future expansion. The salmon farm will operate with zero discharge off-site by capturing the water and nutrient discharges from the facility to fertilize the adjacent crops.
Steve Atkinson, Managing Director of Taste of BC Aquafarms, states “Since the Government of Canada has committed to a transition of the ocean-based salmon farming industry to more sustainable and environmentally sensitive technologies, we are excited to be able to lead in the development of land-based salmon farming here in BC. Our approach certainly meets their objectives, and we anticipate strong support from DFO for this project.
“Salmon farming is a vital part of our economy here on Vancouver Island and we look forward to being a major part of its future. This is the first of several farms we intend to build.”
John Keeler, Chairman and CEO of Blue Star Foods, adds, “Our current facility in BC has proven our technology, growing salmon since 2013 and harvesting since 2014, with an annual target of 100 MTs. This new proposed facility will be built in modules essentially replicating what our team has done successfully over the years, and will be situated on land that has ample room for additional expansion in the future.
“The expected $35 million investment will come from government backed loans, grants and a Special Purpose Vehicle (SPV) we are in midst of forming. The SPV will be marketed through various networks that have had past success in raising money for infrastructure projects and companies. Of note, the capital requirement is needed over time and the SPV structure will have continuous closings, enabling us to access capital as it is needed. We expect to launch the SPV in January.”
Taste of BC Aquafarms Inc., incorporated in 2010 in Nanaimo, operates the oldest continuously operating RAS full grow-out salmon farm in North America. Their “Little Cedar Falls” brand Steelhead Salmon has been on the market since 2013.
“I am pleased to co-operate with others on the property in our shared vision for sustainable, local food production.” says Ben Atkinson, CEO of Taste of BC Aquafarms Inc. “The nutrient created by growing salmon will be used to grow barley which in turn will be distilled into Spirits. In this facility we will grow our salmon with innovative technology that respects the environment and ensures no contact with wild salmon species on our coast.”