The Canadian Department of Fisheries, Forestry and Agriculture approved an application from Marbase for an aquaculture license to build a lumpfish hatchery at Marystown, according to local news.

Marbase is a fully integrated aquaculture service hub to support the aquaculture industry in the region and at its heart is the lumpfish hatchery. The company will invest $20 million in the new hatchery and will produce lumpfish grown from local broodstock in land-based tanks. The hatchery will have a production capacity of 3-5 million lumpfish.

Marbase aims to start construction of the hatchery soon and have lumpfish in tanks at the facility by the end of the year.