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Benchmark to benefit from dissolution of AquaChile JV

28 October 2019, at 8:16am

Benchmark is due to receive US$8.75 million and sole ownership of the Ensenada broodstock facility as its joint venture with AquaChile comes to a close.

The funds are the second and final payment under the joint venture dissolution agreement, while ownership of the Ensenada facility gives Benchmark control of the salmon breeding operation previously belonging to the joint venture, which includes the IP rights, genetics stock and biomass.

Benchmark has gained the IP rights, genetics stock and biomass at the Ensenada hatchery
Benchmark has gained the IP rights, genetics stock and biomass at the Ensenada hatchery

The Ensenada hatchery is situated in Chile’s Los Lagos region. According to Benchmark is has good access to spring water required for the production of high-quality eyed eggs suitable for the Chilean industry. It is currently being adapted to be suitable for maturation of broodstock, spawning and fertilisation of eggs, and it is expected that the first eggs from the new facility will be available in H1 2021.

Chile is the world's second largest salmon producing country and the company says that it “is an important market in Benchmark's long-term strategy”.

“We remain focused on achieving full scale production at this biosecure, land-based facility,” they add.

 

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