Land-based salmon farm in Maine seeks buyer

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Palom Aquaculture pre-dated the state’s upcoming Nordic Aquafarms and Whole Oceans projects.

Palom Aquaculture had the necessary permitting to grow an organic Atlantic Salmon using a recirculating aquaculture system (RAS) and waters of coastal Maine.

Started in 2012, Palom Aquaculture aimed to set up a land-based 500 t farm for Atlantic salmon (with the perspective of even extending production to 1,500 t) at a former US Marines base.

On Wednesday, Bangor Daily News reports that the site is seeking a buyer. The site has already received state and federal permits – but has yet to farm a single fish at the undeveloped 17-acre site – even seven years later.

Palom Managing Director Bryan Woods said his firm still is looking to raise USD 15 million to get up and running — USD 10 million for capital construction and, when it is complete, USD 5 million for two years of operations.