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AgriMarine Holdings Inc.,.

AGRIMARINE HOLDINGS INC., a company specializing in floating closed containment technology and production for sustainable aquaculture, and the Serpent River First Nation in Ontario announced the signing of a Memorandum of Understanding for a Closed Containment Aquaculture Feasibility Study. Under the terms of the MOU, the parties agree to investigate the feasibility of developing a closed containment fish rearing operation near Cutler, Ont. on the North Shore of Lake Huron. The MOU paves the way for a comprehensive technical, social and economic assessment using AgriMarine's closed containment aquaculture technology for the rearing of trout in Serpent River territory, using environmentally sustainable practices. Chief Isadore Day, Wiindawtegowinini, Serpent River First Nation, said, "This project has been in the works for quite some time in Serpent River. It is this partnership and the technology that AgriMarine is bringing forward that is providing us the assurance we need to take this venture one step further. Our project must establish and maintain the highest environmental standards possible and, secondarily, this project must meet the economic needs of our community. 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." Richard Buchanan. CEO of AgriMarine Holdings said, "The partnership with the Serpent River is significant to AgriMarine as it is an integral part of our expansion strategy into Eastern Canada and produces seafood near urban communities. We are pleased to move forward with this project to further demonstrate that our unique technology can be applied in various aquatic environments with a minimal environmental footprint, while providing sustainable economic development to the region."
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Title Annotation:Business Briefs
Publication:Windspeaker
Date:Apr 1, 2011
Words:295
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