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Maroc Maroc - MYCOWICHANVALLEYNOW.COM - A La Une - 14/07/2024 19:00

Salmon farming tech company expanding, thanks to new $21M investment

A Campbell River company that exports salmon farming technology around the world is expanding, thanks to nearly $21 million in new investment. Poseidon Ocean Systems will use the funding to expand its manufacturing capabilities, and support the company’s growth and development. The company manufactures technology for salmon farms, including life-support systems and hybrid sea cages. The new financing comes through the Ecosystem Integrity Fund and the InBC Investment Corp, along with Export Development Canada. Investors say they are backing the company because its innovative products will help meet global demand for sustainable protein, and build a climate-resilient economy. The new money will also allow the company to continue expanding into global markets, including greater relationships with salmon farmers in Canada, Chile, and the United Kingdom. The post Salmon farming tech company expanding, thanks to new $21M investment appeared first on My Cowichan Valley Now.

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