Economic development agency Canada Economic Development for Quebec Regions (CED) has invested in land-based Atlantic salmon aquaculture startup Samonix.
The investment, which is just under CAD 100,000 (USD 73,400, EUR 66,200), will help Samonix conduct preliminary studies in support of its pre-startup phase, CED said. The funding will focus on the fees for external professionals as the company works on the pre-startup of its facility.
"Promoting innovation and economic growth in all regions across the country is a priority for our government,” Sophie Chatel, a member of parliament representing Pontiac, Quebec, Canada, said. “In this spirit, we support promising projects by businesses such as Samonix, located in one of Quebec's economically vulnerable RCMs [regional county municipalities]. By assisting a business such as Samonix in its pre‑startup phase, we are helping ensure more inclusive economic growth to the benefit of the Pontiac community."
Samonix, founded in 2020, is working to build a 12,000-metric-ton (MT) land-based salmon farm in Pontiac. The facility will use a recirculating aquaculture system (RAS) at a location the company has secured in Litchfield on the shores of the Ottawa River.
According to Samonix, its facility will recirculate 99 percent of its water, and will use AquaMaof technology for its RAS. Once it begins producing salmon, it plans to supply areas in Quebec, Ontario, and northern U.S. states with its salmon.
The funds from CED were granted under the Quebec Economic Development Plan and consist of a repayable investment under a tailored funding approach that CED said is designed for Quebec’s economically vulnerable municipalities. If Samonix is successful, it will repay the investment, but if it does not leave the startup stage and fails to launch, the company doesn’t need to repay.
"Samonix is very pleased to be able to count on CED's generous contribution,” Samonix Founding President Mathieu Farley said. “With this assistance, the business is launching an ambitious initiative to produce higher-quality salmon with fewer environmental impacts. We thank CED for supporting Samonix in developing an innovation hub for salmon farming in the Outaouais region. We are first aiming to produce locally for all regional markets, but we also hope to become a world leader in this type of production."
The investment from CED builds upon other partnerships Samonix has secured with prominent salmon aquaculture companies. In January, Smart Salmon Group – alongside Smøgenlax – announced a major strategic partnership with Samonix. Smart Salmon Group is a land-based salmon-farming company with projects in Norway and France.
“Samonix has set together a very solid and interdisciplinary skilled team, and by joining forces from Scandinavia, we aim for excellence in land-based Atlantic salmon aquaculture,” Smart Salmon said.
Smart Salmon partnered with Smøgenlax in February 2023 and is working to establish a 7,500 MT flexible post-smolt and full-size Atlantic salmon farm in Bremanger, Norway, and a 8,000 MT salmon farm in France.
"Smøgenlax are specialists in wastewater management, while the Smart Salmon team contributes with extensive experience from practical fish farming and several years in the land-based business in Norway and France,” Smart Salmon said of its partnership with Samonix. “Together, we look forward to pushing back the boundaries of innovation in this sector with a healthy, eco-responsible approach.”
