Atlantic Sapphire denies recent challenges are the reason for construction pauses

Atlantic Sapphire denies recent challenges are the reason for construction pauses

Presumably, this was due to above-normal and increasing mortality in certain systems. Consequently, fish from the systems was harvested earlier.

Atlantic Sapphire confirmed is investigating this and will take further corrective actions to minimize future mortality.

The Q3 2022 Operational Update will be released on or about November 15, 2022. When the company will share more details on its operational performance.

In addition, some informations have come to light about the interruption of its second construction stage in Miami.

Regarding this, Damien Claire, Chief of Sales, and Marketing Officer clarified to WeAreAquaculture: "We have not been forced to pause construction due to the recent challenges. We've always been clear that we first want to reach EBITDA break-even in phase 1 before we start with the most CAPEX-intensive parts of the phase 2 construction."

About Atlantic Sapphire

Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally.

The company has been operating its innovation center in Denmark since 2011 with a strong focus on R&D and innovation to equip the company with the technology and procedures that enable the company to commercially scale up production in end markets close to the consumer.

It has identified and obtained the requisite permits to construct its Bluehouse® in Homestead, Florida. The company completed its first commercial harvest in the US in September 2020.

Its Phase 2 expansion will bring the total annual production capacity to 25,000 tons and has a targeted harvest volume in 2031 of 220,000 tons.

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