Salmon Business

Third Player Looks At Millinocket for Maine Land-based Salmon Farm

Owen Evans

Jun 11, 2019
In a press release, Wyoming-based Aquabanq announced that it’s ready to commence construction on a modern aquaculture plant in Millinocket, Maine, after two years of development, planning and preparations.

Aquabanq is a subsidiary of UK-based Aquaculture Management and Holding Co. Ltd.

The plant will be able to produce 3,600 tonnes of Atlantic salmon per year by 2022.

“The salmon from our facilities in Maine will reach consumer plates in Boston, Montreal, New York, Philadelphia, Washington D.C., and everywhere in-between within hours of harvest to ensure peak freshness,” the release wrote. “Use of proven RAS technology and advanced materials reduces both Production Cost and CapEx per pound of fish. Strong financial projections of our aquatic farm are driven by strong product demand, state-of-the-art technology, and prudent expenditure management.”

By 2025, the company hope to scale that up to 10,000 tonnes annually.

The company hopes to join Nordic Aquafarms (33,000 tonnes) and Whole Oceans (50,000 tonnes) in being Maine’s first land-based salmon pioneers.

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