American Aquafarms has bought Maine Fair Trade Lobster’s property in Prospect Harbor after area councilors decided to extend a moratorium on finfish aquaculture for more than six months. William Blais, East Coast Seafood Group’s Chief Executive Officer, made the announcement.

Firstly, the moratorium was established so local officials can make changes to ordinances. This way, they could regulate better way aquaculture activities. Also, the local group could review and refine licensing ordinance and potentially make amendments to American Aquafarms’ proposal.

Before, American Aquafarms encountered an obstacle. The Maine Department of Marine Resources (DMR) stopped the application for the company’s $300 million project. Because having concerns about their plan to source its eggs from AquaBounty.

If you want to know more about American Aquafarms, dont miss our article about how they brought an innovative closed pen system production to the State of Maine.