The Canadian Government has announced the first allocation of a $30m assistance commitment to aid the construction of a salmon hatchery and nursery in Newfoundland and Labrador.
As part of the Atlantic Fisheries Fund, worth over $400m, an aquaculture company named Grieg NL has received the first instalment of a $30m repayable grant for its new salmon hatchery and nursery.
To produce Atlantic salmon, Grieg NL receives fertilised sterile Atlantic salmon eggs from Iceland. The eggs are then incubated in temperature controlled units until they hatch. Once hatched, the juvenile salmon grow and develop using the nutrients in their yolk sacs.
The young Atlantic salmon are then cared for in a large freshwater nursery where they begin to feed on dry pellets. Once they reach 5g they are moved into the smoltification facility, where the fish undergo physical changes that enables them to live in salt water, a process called smoltification. The financial aid from the Atlantic Fisheries Fund will allow Grieg NL to expand its facilities and support the Canadian seafood industry, which has an export value of $1.4bn.
The Atlantic Fisheries Fund
Funded jointly by the federal, provincial, and territorial governments, the Atlantic Fisheries Fund will invest more than $400m over seven years to support Canada’s fish and seafood sector. The federal government will provide 70% of the funding, and 30% will come from participating provinces and territories.
The Atlantic Fisheries Fund focuses on encouraging the development of new products and technologies in the aquaculture sector, with an additional goal of ensuring the sustainability and resilience of the seafood sector. The Atlantic Fisheries Fund will also support industry-based collaborations with academia and other research institutions to further support innovation in the sector.
The provincial and territorial governments will also identify and promote projects of mutual interest led by indigenous groups, non-governmental organisations, industry associations, and academic communities.