The massive salmon farm under construction is nearly ready for the introduction of eggs, according to the company building.
Atlantic Sapphire released a report to investors earlier this month stating that egg introduction is on track to begin in Q4 2018. Steady state production is on track for the third quarter of 2020.
Following the release of the report (which also included on update on the company’s operation in Denmark), Atlantic Sapphire’s share price rose from around 46 Norwegian kroner on September 10 to around 60 kroner in Oslo yesterday.
The company has said that conditions in Miami are unique, with the potential to supply all of the U.S. demand for salmon with just 500 acres of land.
Drilling to three different depths in the ground is part of the project. 50-foot wells will supply freshwater, a 2,000-foot well will supply artesian saline water that has been stored underground in Florida for thousands of years, while a 3,000-foot well will be used to inject treated wastewater, which the company says is non toxic and won’t migrate up or down thanks to a hard shell barrier.
The area where the farm is being built is the only one in the U.S. with the geology to sustainably discharge salt water in quantities required to scale, according to a company presentation. It is also the only area with high quality salt and fresh groundwater supply in sufficiently large quantities.