Katahdin Salmon
News
There is an enormous and growing seafood deficit in the US, meaning that we as a country import far more seafood than we export - 20X more - and a vast majority of that is shipped by air. Atlantic Salmon is the most consumed finfish in the US representing a 10 billion USD market with an annual 7-8% growth rate.
Katahdin Salmon wants to close that gap. The company is planning to build a 10,000 metric ton Atlantic Salmon Recirculating Aquaculture Systems (RAS) facility on a former pulp mill site in Millinocket, Maine. The site offers some unique qualities that significantly reduce risks and capital requirements.
Marianne Naess, Co-Founder and CEO, shares, “Ocean farming of salmon is controversial in the US due to environmental impacts, thus limiting domestic supply. With the right approach, the US can grow a high-quality domestic supply of America´s “favorite fish”, and that is what Katahdin Salmon is planning to do.”
The Katahdin Salmon team brings industry expertise across corporate leadership, commercial development and deep Salmon and RAS production know-how.
The team is also thinking deeply about environmental impact, and is committed to achieving the following sustainability standards:
CO2 Footprint – the facility will be using 100% renewable power.
Commitment to fish-meal-free feed – reducing the pressure on ocean resources.
Recycling of waste resources – nutrients and solids will be captured and processed into value-added products on-site.
Climate change resilient – temperature control, water quality control in a contained system, and limited water use
Zero risk of escape.
Discharge treatment – removal and recycling of up to 99% of nutrients.
The Katahdin Salmon Team says, “We have worked closely with our economic development partner “Our Katahdin”, local politicians, and people in the community. The feedback has been positive and there is an excitement in the community to develop a new, sustainable business. We look forward to engaging the community further when we start building the facility and local organization in Millinocket.”
Katahdin Salmon team, welcome to the Maine Venture Fund portfolio!
See Katahdin Salmon’s website
About Maine Venture Fund
Maine Venture Fund invests in dynamic businesses that have the highest potential for growth and impact in Maine. For more information, visit maineventurefund.com.
Inquiries:
Terri Wark
Maine Venture Fund
(207) 305-0006
terri@maineventurefund.com
