PR94058

BRASILIA, Brazil, Jan. 13, 2022 /PRNewswire=KYODO JBN/ --

- Job boosting concession area is three-and-a-half times the size of Washington

DC

- Landmark deal increases Forever Oceans finfish production capability by more

than 25% and positions Brazil as an emerging leader in sustainable seafood

Bill Bien, the CEO of Forever Oceans (

https://c212.net/c/link/?t=0&l=en&o=3412421-1&h=1296940960&u=https%3A%2F%2Fwww.foreveroceans.com%2F7458%2F&a=Forever+Oceans

), a leading innovator in sustainable seafood, met today with Jorge Seif

Junior, Secretary of Aquaculture and Fisheries of the Ministry of Agriculture,

Livestock and Supply to sign a concession agreement that puts Brazil on track

to be an emerging leader in sustainable seafood production. The initial 20-year

agreement authorizes Forever Oceans to ocean-raise fish within automated

enclosures in two zones, located 7-15km (4.3-9.3 miles) off the Brazilian coast

of the state of Bahia. Together, they represent the largest offshore concession

ever given for sustainable marine aquaculture, totaling 64,200 hectares, an

area three-and-a half times the size of Washington DC. The operation is

expected to create up to 500 jobs over the next eight years.

Photo -

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"With a coastline of more than 8,500 km, Brazil is one of the main frontiers

for fish production, generating, in addition to healthy food, employment and

income," said Seif. "This landmark agreement is historic for Brazil and will

set the country on the path to the development of sustainable marine

aquaculture."

In 2018, the global marine aquaculture market produced 7.3 million metric tons

of finfish valued at US$35.4 billion(1). The global demand for finfish from

marine aquaculture is forecast to grow threefold to 21 million metric tons by

2050(2), as more consumers incorporate fish as a part of a healthy diet.

"This agreement will help us to serve the growing demand for delicious,

nutritious seafood and gives us the space to scale and grow rapidly, and the

opportunity to develop the largest offshore sustainable seafood capability in

the world," said Bien. "We will bring our different approach to the waters of

Brazil, applying our expertise in aquaculture, conservation and innovation to

raise delicious and protein-rich fish in deep-ocean waters in a highly

environmentally-friendly and sustainable way that's good for people and the

planet."

In addition to the new site in Brazil, the Virginia, US-headquartered company

has a research and technology facility in Hawaii, and offshore operations in

Panama and plans an offshore operation in Indonesia.

In Brazil, the company will ocean-raise Forever Oceans Amberjack, known locally

as 'Olho de Boi' or Remeiro. This versatile finfish is praised for its taste,

protein, nutrition and is rich in Omega-3.

An onshore hatchery in Ilhéus, Bahia, Brazil, will raise fingerlings from eggs

for placement in large deep-ocean enclosures, enabling them to swim and grow in

a protected and more natural environment. Initially, 24 automated enclosures

are planned inside the two ocean zones, which comprise responsible eco-friendly

aquaculture zones. The operation in Brazil is expected to create approximately

300-500 good-paying jobs over the next eight years once full capacity is

achieved.

In September 2021, Forever Oceans was named in Seafood Source Magazine's Top 25

Seafood Innovators (

https://c212.net/c/link/?t=0&l=en&o=3412421-1&h=3313538557&u=https%3A%2F%2Fwww.seafoodsource.com%2Fnews%2Ffoodservice-retail%2Fthe-top-25-seafood-product-innovators%3Fmkt_tok%3DNzU2LUZXSi0wNjEAAAF_0ZVJD8QPuGkEoumR_63TFyOZ_b-5MH9fS9iVL68HW2rqpyjKmznuOrd-ElaBMsyP6yjt5q6VoT0CaA8aWU9alHaO824SwTBCJzpkNCebntPTaBo%26content%255Bb1a7c925-1ed6-4bc4-ab97-58e281440ce3%255D%3D10&a=Top+25+Seafood+Innovators

) list.

About Forever Oceans

Forever Oceans (

https://c212.net/c/link/?t=0&l=en&o=3412421-1&h=1412273250&u=https%3A%2F%2Fwww.foreveroceans.com%2F&a=Forever+Oceans

) is a leading innovator in sustainable seafood. Our mission is to provide a

new way for the world to produce delicious, sustainable seafood that's good for

people and the planet. We know fish, we know conservation and apply unique

innovations. These include ruggedized enclosures where everyday tasks are

automated using advanced systems. They ensure our operations are efficient,

integrated with the environment and supportive of local communities. Forever

Oceans was recently named one of America's most innovative seafood companies (

https://c212.net/c/link/?t=0&l=en&o=3412421-1&h=3383318699&u=https%3A%2F%2Fwww.seafoodsource.com%2Fnews%2Ffoodservice-retail%2Fthe-top-25-seafood-product-innovators%3Fmkt_tok%3DNzU2LUZXSi0wNjEAAAF_0ZVJD8QPuGkEoumR_63TFyOZ_b-5MH9fS9iVL68HW2rqpyjKmznuOrd-ElaBMsyP6yjt5q6VoT0CaA8aWU9alHaO824SwTBCJzpkNCebntPTaBo%26content%255Bb1a7c925-1ed6-4bc4-ab97-58e281440ce3%255D%3D10&a=most+innovative+seafood+companies

) by Seafood Source.

Our Research and Technology Center is in Hawaii, and we have offshore

operations in Panama, Brazil and one planned for Indonesia. Our sustainable

seafood will be in US restaurants in early 2022. Learn more about Forever

Oceans at www.ForeverOceans.com.

(1) FAO UN https://www.fao.org/fishery/en/aquaculture/en

(2) 'Oceans' Future to 2050 Marine Aquaculture Forecast'. 2021 report by DNV.

https://www.dnv.com/Publications/marine-aquaculture-forecast-to-2050-202391

SOURCE: Forever Oceans

CONTACT: Monica San Miguel, T: +1 (716) 253-0101, E:

monica.sanmiguel@foreveroceans.com