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Victoria-based halibut farm opening its own hatchery


A unique Prince Edward Island business that has been operating in the province for several years is expanding thanks to a loan from taxpayers. 

Halibut P.E.I. raises its namesake fish in an in-land facility in Victoria, near Crapaud. The company purchases hatchling halibut from companies off Island and raises them in their facility until they reach a commercially viable size.

Thanks to a $495,000 loan from the Atlantic Canada Opportunities Agency, and another for $355,000 from the provincial P.E.I. Century Fund, the company is going to start its own hatchery for its halibut.

The move will not only cut out the cost of buying and importing fish from out of province, it will also open new sources of revenue for the company,” said Jim Dunphy, president of Halibut P.E.I.

 “This new funding being provided by both the federal and provincial governments, together with new private sector investment from our shareholders, enables our company to move on with the second phase of our business plan, the establishment of this new hatchery that enables Halibut PEI Inc. to produce halibut juveniles in P.E.I. for our own grow out here in Victoria as well as other grow out operations in Atlantic Canada and for the export market.” 

Newsroom@JournalPioneer.com

Halibut P.E.I. raises its namesake fish in an in-land facility in Victoria, near Crapaud. The company purchases hatchling halibut from companies off Island and raises them in their facility until they reach a commercially viable size.

Thanks to a $495,000 loan from the Atlantic Canada Opportunities Agency, and another for $355,000 from the provincial P.E.I. Century Fund, the company is going to start its own hatchery for its halibut.

The move will not only cut out the cost of buying and importing fish from out of province, it will also open new sources of revenue for the company,” said Jim Dunphy, president of Halibut P.E.I.

 “This new funding being provided by both the federal and provincial governments, together with new private sector investment from our shareholders, enables our company to move on with the second phase of our business plan, the establishment of this new hatchery that enables Halibut PEI Inc. to produce halibut juveniles in P.E.I. for our own grow out here in Victoria as well as other grow out operations in Atlantic Canada and for the export market.” 

Newsroom@JournalPioneer.com

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