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AgriMarine And Safeway Sign MOU

by 5m Editor
1 June 2011, at 1:00am

CANADA - Leader in floating closed containment technology, AgriMarine has announced that it has signed an Memorandum Of Understanding (MOU) with US food and drug retailer, Safeway.

The MOU sets out a framework for Safeway to start a due diligence process leading to a definitive agreement for supply of Pacific Salmon from AgriMarine’s closed containment salmon farming operations in Campbell River, British Columbia.

The salmon are raised in floating, solid-wall closed containment systems developed by AgriMarine as a sustainable alternative (green technology) for salmon farming. The AgriMarine system places a solid barrier between wild fish and farmed fish and protects the surrounding eco-systems through its proprietary solid waste collection system.

AgriMarine’s closed containment technology is currently in operation in Benxi, China where successful rearing, harvesting and sales to the market are occurring. The Company recently signed a joint venture agreement to license AgriMarine’s technology to the Norwegian salmon farming industry through the Company’s subsidiary, AgriNor.

“We have received positive initial feedback from Safeway who share our vision of making positive contributions for our oceans by changing the way salmon are farmed, and feel that consumers will respond favourably to having sustainable farmed salmon options”, said Richard Buchanan, CEO of AgriMarine Holdings.

5m Editor

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