AgriMarine and Serpent River First Nation (SRFN) on Wednesday announced that they signed a memorandum of understanding for a study on the feasibility of closed-containment aquaculture.
The two parties agreed to investigate the feasibility of developing a closed-containment trout-farming operation within the SRFN territory, near Culter, Ontario, on the north shore of Lake Huron. The agreement paves the way for a comprehensive technical, social and economic assessment using AgriMarine’s proprietary closed-containment aquaculture technology. AgriMarine is based in Vancouver, British Columbia.
“Our project must establish and maintain the highest environmental standards possible, and, secondarily, this project must meet the economic needs of our community,” said SRFN Chief Isadore Day. “So far we are showing signs that this project will establish those two high watermarks — that’s what we are looking for in a project. At further glance, we are also keen on the ability to contribute to the global demand for food security and access to agricultural marine products.”
Once the study is completed, the parties will conduct an environmental assessment and apply for all required licenses and permits.
