The company will require additional funding for the second phase of its project

Phase 2 development of Atlantic Sapphire’s Miami salmon production site will be delayed because of concrete shortages and inflationary costs. The company will need more than the remaining $62 million (€59 million) to complete the work.

According to the company, labor, truck drivers, and supply issues are the reasons for shortages. Besides, increased demand as the country emerges from the COVID-19 pandemic. Consequently, 2023 will suffer more spending. Executives try to work out how long delays will last and a new timeline.

Thereby, Atlantic Sapphire hopes to handle fish by early 2023 under its Phase 2 expansion. Upon completion of the expansion, the company expects it will be producing 25,000 metric tons.

Also, an installation of a new filleting line, scheduled for June, will try to impact second-quarter production. Hopefully, the third quarter will experiment with 500 metric tons.

Atlantic Sapphire CEO already alerted Whole Oceans about biological and technical challenges regarding this kind of project as proof of anticipation.