Hawaii to get massive floating fish farms

Image
IANS New York
Last Updated : Aug 10 2014 | 12:15 PM IST

A US firm has started work on huge floating cages that will hold 1,000 tonnes of fish in the deep sea off Hawaii's coast.

Hawaii Oceanic Technology Inc. (HOTI) has received permits to build 12 cages, which it calls "Oceanospheres", in a 247-acre area off the coast of Hawaii which it has leased out.

The floating fish farms will be 180 feet wide cages submerged at a depth of 20 metres. The farms will raise tuna fish from egg to harvest size in a self contained system. The company hopes to harvest fish within 18 months.

"Our goal is to develop a new, environmentally responsible way to raise tuna in deep waters," Bill Spencer, CEO of HOTI was quoted as saying in media reports.

HOTI hopes to cash in on ocean fish farming which is estimated to be a $75 billion market by 2020, West Hawaii Today reported.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 10 2014 | 12:08 PM IST

Next Story