The management of Antigua Sustainable Aquaculture Limited is pleased to provide this project for sustainable fish growing. With the appropriate government approvals in place, this Antiguan company has been founded and endorsed as a Citizenship by Investment (CIP) Project. This environmentally friendly approach to aquaculture can offer significant economic growth in a new industry that will diversify the economy. The goal is for this project at maturity is to add more than 10% to the Gross Domestic Product (GDP) of Antigua while creating more than 400 new local jobs.
Concept: Antigua Sustainable Aquaculture intends to scale offshore fish production in Antigua to over 8,000 tons per annum of sashimi grade fish. This production will initially start with Kampachi, but may further diversify into other species in the future. The fish will be sold to regional resorts and the booming South American market as well as US distributors to capture part of the growing $18.9 billion dollar US seafood import market.
Economics: The venture proposed is designed to be a profitable business with significant local economic impact. While initial investment is required, this profitable venture should continue to sustain jobs and grow investor wealth without ongoing infusions of capital.
Environmental: The venture proposed is carefully planned to avoid any measurable detriment to the environment such that operations can continue perpetually, or even provide environmental and societal benefits. It is specifically planned to be synergistic with the fishing industry.
Investment: This effort will require a total investment of around $30 million. Based on initial discussions with the US Overseas Private Investment Corporation (OPIC), our goal is to combine $15 million of Antigua CIP funds, $7.5 million contribution by the Government of Antigua and Barbuda and up to $15 million of OPIC debt, as required, to further compound the return for CIP investors. The proposed plan is tailored to produce a cash flow positive farm in less than four years, with a CIP investor return of 6%. Returns will vary somewhat based on the investment phase of the project.
Antigua Sustainable Aquaculture Team Background
Aspen Assurance Company Ltd is dedicated to innovative products and the best in class customer service with the financial backing of over $2 Billion in available assets. Aspen’s product development team has over 150 years of bespoke product design and management experience. The product development team hails from senior management positions in the top insurance companies in Europe and the United States to the trading floors of the largest worldwide exchanges. Their ability to understand a client’s needs and then design cost efficient solutions is unsurpassed in the industry. Aspen views sustainable seafood as a growing world need. Aspen is forming Antigua Sustainable Aquaculture (ASA) to address this need with leading and innovative practices in Antigua.
Teammates: The ASA will be licensing aquaculture technology and approaches from Forever Oceans and their partners at Lockheed Martin and Virginia Tech. Forever Oceans provides a comprehensive solution for sustainable aquaculture that includes expertise, technology, infrastructure, training, biology, supplies, and more. This solution was named one of the Top 25 Inventions of 2012 by TIME Magazine. Lockheed Martin provides leading automation technologies and Virginia Tech operates the International Aquaculture Training Academy (IATA). Together our team combines the best of finance, technology, biology, & training for the most advanced approach in sustainable seafood production.
Antigua Sustainable Aquaculture Information Kit is available upon request
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