St John’s, NL – Research directed at increased production of high-quality farmed salmon off the south coast of Newfoundland has received a funding commitment totalling over $24 million. The Atlantic Canada Opportunities Agency (ACOA) is providing $9.4 million, while Cold Ocean Salmon., a subsidiary of Cooke Aquaculture, is providing $14.6 million for the project.
Over the three-year project, Cold Ocean Salmon will develop innovative techniques that will enable it to introduce juvenile salmon to sea cage sites earlier than is currently done. In collaboration with Fisheries and Oceans scientists from Newfoundland and Labrador and New Brunswick, the company will also select and breed salmon that are more suitable to the growing conditions off the south coast of Newfoundland. The goal is to produce a more robust salmon stock, thereby enhancing survival and growth rates.
“This project ties in well with our corporate business plan for Newfoundland and Labrador and allows us to move forward with the development of a state-of-the-art freshwater division in the province,” said Glenn Cooke, CEO of Cooke Aquaculture. “It will complement the investments that we have already made in partnership with the government of Canada and the province of Newfoundland and Labrador. Our company’s investment is right on target with the commitments that were announced in October 2006 and we now have 200 people working full time in the province’s south coast.”