Loch Fyne company Otter Ferry Seafish Limited has secured up to £175,225 from Highlands and Islands Enterprise (HIE) towards total project costs. The work involves the redevelopment of the company’s existing marine hatchery facilities, including new tanks, controls, lighting, water circulation and energy efficiency measures. This will significantly increase the production of juvenile halibut.
Otter Ferry Seafish was established in the 1980s and currently employs around 17 people. It is recognized internationally as a leading aquaculture research center and continues to grow its research activity through collaboration with the Agri-Tec Centre.
The business was recently acquired by Amar Seafoods, a group of companies with operations in Norway and Canada that have been buying halibut juveniles from Otter Ferry for the past two years.
Continuing to supply juveniles to Amar in Norway and Canada is forecast to generate around £2.5 million a year for the company. As well as supplying Norway and Canada, juveniles are now being retained for ongrowing of halibut in Scottish waters.
This latest project builds on previous work supported by HIE, including provision of specialist advice on business planning to develop the methods now being scaled up, and a graduate placement to support research expansion.
In addition to increasing production and generating revenue, the move will safeguard the existing workforce and create two new jobs at the hatchery and many more as the ongrowing industry is established again in Scotland.
Liam Orr, head of business growth with HIE’s Argyll and the Islands team, said that “the food and drink sector is a major feature of the Argyll economy and Otter Ferry Seafish is a key part of this. We’ve worked with the company for a number of years now, during which it has progressed strongly and shown great promise in innovation and research. Its potential for further growth is also very strong, and under the new ownership of Amar Seafoods, we can be optimistic about ongoing investment that will ensure sustainability and safeguard employment.”
Alastair Barge, managing director at Otter Ferry Seafish, said, “we have worked closely and benefited from a close relationship with the business growth team at HIE Argyll and Islands. Their specialist advice, targeted research and assistance with the cost of expansion have helped greatly in securing the future halibut production in Scotland.”
