Australis Aquaculture Nets Usd 18 Million to Expand Barramundi Production in Vietnam

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Three billion people across the world depend on seafood for protein, even as global fish stocks fall due to overfishing and temperature rise.

Australis Aquaculture, a vertically-integrated aquaculture producer of barramundi, has won the US State Department's Award for Corporate Excellence in 2021.

The investment is intended to promote climate-resilient, ocean-based barramundi and seaweed aquaculture in Vietnam, according to a release.

Australis Aquaculture currently has a barramundi operation in Van Phong Bay, located in central Vietnam, which Australis CEO Josh Goldman says will help expand.

The Asian Development Bank's financing will support the "continued growth of our operations in central Vietnam as well as the development of a large new regional production hub where we've established a group of leases that will allow us to achieve 50,000 [metric] tons of annual barramundi production," Goldman says.

The additional grant from the Climate Innovation Development Fund will also go toward expanding the company's operations into cultivating seaweed, specifically the species Asparagopsis taxiformis.

The species has been shown to reduce methane emissions when it is included in cattle feed, according to the Asian Development Bank.

In 2018, Australis launched its Greener Grazing initiative to investigate potential use asparagopsis

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