AgriMarine Increases Salmon Production Capacity in China

AgriMarine Holdings Inc., the leader in floating solid wall closed containment technology for sustainable aquaculture, is pleased to announce that it has completed the assembly and launch of its fourth tank at its salmon rearing facility in Benxi, in the People's Republic of China, reports www.megafishnet.com with reference to AgriMarine. 

The successful completion of the fourth tank at the world's first floating closed containment salmon farm is an important milestone for AgriMarine as it increases capacity by 25% or 300,000 kg. The tank will now undergo commissioning to test its life support systems, including oxygen and waste recovery systems. Once commissioning is complete, the Pacific salmon juveniles under grow-out in the Company's 100% owned hatchery will then be transferred into the tank.

Each tank plays an important part of AgriMarine's increasing ability to generate positive cash flow from fish sales in China. The Company is capitalizing on its ability to produce fresh salmon locally, where traditional net cage farming cannot occur due to highly variable surface water temperatures. AgriMarine's proprietary technology resolves this critical challenge, while its domestic production is quickly gaining market share in the high value salmon market.

Sean Wilton, President of Benxi AgriMarine added, "Significantly, the Company reduced its latest cost of assembly by 50% from our previous tank launch utilizing improved techniques developed during the construction and installation of the Company's marine tank in Middle Bay, Campbell River, BC. Future tank installations will further benefit from these new streamlined procedures, which ultimately lead to higher return on investment and lower capital requirements."