AgriMarine Holdings Inc, -formerly AXEA Energy Inc.- (Public, CVE:FSH) AgriMarine has developed and commercialized proprietary floating closed containment technology to produce salmon sustainably in its farms in China and Canada. The technology can be applied worldwide to the rearing of other finfish such as trout, tuna, and yellow croaker. AgriMarine’s technology creates an optimal fish rearing environment, offers a better farm management system with added environmental benefits over net cage rearing practices and meets consumer and retailer demands for sustainable aquaculture.
AgriMarine has set up a Norwegian subsidiary under the name AgriMarine Norway AS (“AgriNor”). AgriMarine has licensed its technology and know-how to AgriNor as the exclusive sales agent of AgriMarine’s solid-wall containment technology in Norway, Denmark, Sweden, Finland, the United Kingdom, Ireland, Iceland and Russia (“the Territories”). AgriNor’s goal is to identify suitable locations in the Territories for the use of the AgriMarine System™, to establish concessions on those locations and to place the Company’s floating containment systems with suitable purchasers.
AgriMarine has signed definitive agreements with two partners, and is 50% owned by AgriMarine, with the remaining 50% owned by ZED International Holdings (“ZED”) a Canadian Company, and Midos AS (“Midos”), a Norwegian company, as to 25% each respectively. The agreements provide for the appointment of a board of directors and key management.