AUBURN, NY. — LocalCoho, a land-based aquaculture startup, has received funding from two seafood industry entrepreneurs to expand production of premium salmon.
The company raises Coho salmon indoors from egg to harvest using recirculated aquaculture systems technology, developed to minimize impact on the local environment and wildlife. LocalCoho salmon is served at high-end restaurants throughout the Northeast region and will be available to purchase from online grocery retailer FreshDirect beginning this month.
LocalCoho said it plans to use the “multimillion-dollar strategic investment” to increase harvest capacity at its pilot farm and improve husbandry practices. Backers include Rodger May, owner and chief growth officer of Peter Pan Seafood, and Per Heggelund, former owner and operator of a freshwater land-based Coho salmon farm in Washington state.
“This funding from visionaries in seafood will help us refine our expansion plans and sales and marketing strategy,” Mr. Fabbro said. “These two investors are unmatched in experience and knowledge about how to sustainably farm quality salmon and market it to increasingly discerning and eco-conscious American consumers. Rodger’s ability to open doors through Peter Pan will be a major plus as we grow.”
Additional investors are LocalCoho management, including Mr. Fabbro, chief operating officer Andrew Bravo, chief financial officer Julie Martin, and director of business development Will Biggar.“Land-based aquaculture will play a major role in the future of American seafood,” Mr. May said. “LocalCoho is front and center of this emerging industry and its laser focus on quality and sustainability that is already yielding excellent results.”