Land-based salmon farming company announces multimillion dollar projects in US, France, Italy and China

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Pure Salmon plan major global expansion – with one boosted by a USD 20m backing from US government.

In a press release today, Pure Salmon has confirmed its American site will be in Tazewell County in the State of Virginia. This will be the company’s largest facility to date, with 20,000 tonnes of production per annum. The project also comes with USD 20m of financial assistance from local development agencies.

Global
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. The new sites will be fully integrated with on-site hatcheries, grow-out systems and processing facilities.

Phase I
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. Pure Salmon’s first facility, owned by 50% by AquaMaof Aquaculture Technologies, is already fully operational in Poland and producing adult-size fish of 5-6kg. The company has been developed by 8F Asset Management Pte. Ltd, a global asset management firm focused on impact investing.

The company has on its books a 10,000-tonne project in Japan.

China
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 ambitious growth plans for Pure Salmon around the world.”

Pure Salmon added that it intends to build five 20,000-tonne facilities in China, to target the major population centres of Beijing, Chengdu, Shanghai, Guangzhou and Shen Zen.