Vancouver-based aquaculture technology company AgriMarine Holdings Inc. (TSX-V: FSH) has announced the first commercial harvest of salmon at its Canadian demonstration site on Vancouver Island.
The company previously reported damage to its floating, solid-wall containment tank incurred during a hurricane-grade windstorm that hit Vancouver Island on March 12.
AgriMarine said that, after an initial assessment of the damage, the company harvested its first crop of chinook salmon and has begun the process of raising the tank for insurance evaluation and repair.
"We are extremely proud of our team and how they managed the facilities and harvest procedures during the windstorm," said Richard Buchanan, AgriMarine president and CEO.
"Although final harvest numbers are not complete, we have so far harvested and sold over 95% of the original stocking numbers."
The company announced that it is continuing with the demonstration project. It added that subsequent tanks, which are currently being manufactured, have been redesigned and will be installed on schedule, including the upgraded pilot tank.
AgriMarine stated that it believes its harvest results prove the commercial value of the company's technology.
The company reported findings that:
- the fish reached harvestable size in 13 months;
- no loss of inventory has been detected, though final harvest numbers are not complete;
- only three sea lice were found in the crop of salmon; and
- the processing yield was 91%.
Last month, AgriMarine topped the clean-tech companies on the 2011 TSX Venture 50 list, which ranks the TSX Venture Exchange's top companies based on share price changes, trading, market capitalization and analyst coverage over a one-year period. (See "Vancouver clean-tech firm tops TSX Venture 50 list" – BIV Business Today, February 16, 2012.)
At press time, AgriMarine's stock was up more than 5% to $0.19.
