BLUE STAR FOODS RAS DIVISION ANNOUNCES DEAL TO SUPPLY FINGERLINGS

Blue Star Foods RAS Division announces deal to supply fingerlings

Blue Star Foods Corp.,an integrated Environmental, Social, and Governance (ESG) seafood company, has announced that its wholly owned Recirculatory Aquaculture Systems (RAS) subsidiary, Taste of BC Aquafarms (TBC), has entered into an 2-year agreement to supply Steelhead Salmon fingerlings to another company that produces steelhead salmon in British Columbia, for a value of up approximately $1M total.

Fingerlings refer to fish that have reached the stage where the fins can be extended and where scales have started developing throughout the body. In this stage, the fish is typically about the size of a finger.

“We appreciate the vote of confidence from this local Steelhead producer whom we have known for many years. It is an acknowledgement that we have mastered the early rearing cycle that is so critical in overall growth performance of these fish. We are seeing consistent results that others in our space have not in terms of the end-quality of our steel-head salmon product”, said Steve Atkinson, the Founder of TBC. He further continued, “While in some sense, we could view these folks as competitors, the reality here is that there is more than enough demand for our fresh, sustainability produced steelhead salmon than any single participant can supply. We want to continue to build the RAS and aquaculture industry up here in British Columbia and lend a hand to our friends where we can.”

“This agreement is strategic as our company prepares to scale up with our new 1,500 MT facility. This opportunity allows us to enter into a segment that gives us higher margins and shorter production cycle. At 4 months production verses 12 for grow out, market sized fish, our risk is greatly reduced. Additionally, the price per pound gained for fingerlings is exponentially greater than that for full sized fish,” explains Atkinson.

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