VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/21/11 -- AgriMarine Holdings Inc. (TSX VENTURE: FSH)(OTCQX: AGMHF)(FRANKFURT: A2G) (the 'Company' or 'AgriMarine'), the leader in floating solid-wall containment technology for sustainable aquaculture, is pleased to announce that it has begun to harvest the Company's first crop of Chinook salmon ever reared in solid-wall closed containment in the People's Republic of China.
AgriMarine has successfully proven its unique, clean technology for rearing salmon in the Benxi region of the PRC. Situated on the Guanmenshan Reservoir, where ambient temperatures range from -30 degrees C in the winter to 30 degrees C in the summer, the Company's farm is rearing Rainbow trout and Chinook salmon to a desired market size in approximately 14-16 months. Because of its proprietary patented design, the Company's floating tanks outfitted with low-pressure pumping systems ensure that optimal water temperatures are maintained year-round. AgriMarine's cost competitive technology bridges the gap between traditional fish farming methods and high cost land-based tanks while producing fish sustainably with no negative impact to the aquatic environment.
The harvest at Benxi will continue through the summer and fall, and the fish will be sold through distributors to 5-Star hotels and restaurants. The Company previously announced its expansion at the Benxi farm to four 24-metre tanks. Two additional tanks are now being fabricated and scheduled for delivery later this summer which will increase production capacity for fish sales in 2012.
AgriMarine delivers freshly harvested fish 'next day' to major Chinese markets, without being subject to import taxes or international air freight charges. At present, imported fresh salmon takes up to four days to arrive in Chinese markets after being flown in from Europe or the Americas. Since December 2010, salmon imported from Norway has been subject to additional inspections, resulting in lengthy quarantines of up to 14 days.
About AgriMarine Holdings Inc.
AgriMarine has developed and commercialized proprietary floating closed containment technology to produce salmon sustainably in its farms in China and Canada. The technology can be applied worldwide to the rearing of other finfish such as trout, tuna, and yellow croaker. AgriMarine's technology creates an optimal fish rearing environment, offers a better farm management system with added environmental benefits over net cage rearing practices and meets consumer and retailer demands for sustainable aquaculture.
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AgriMarine Holdings Inc.
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AgriMarine Holdings Inc.
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