'Bloomberg' interviews UNE’s Barry Costa-Pierce about the financial hurdles of deep-water aquaculture
Bloomberg interviewed Barry Costa-Pierce, Ph.D., Henry L. & Grace Doherty Professor of Marine Sciences at the University of New England, chair of the Department of Marine Sciences and director of the UNE Center for Excellence in Marine Sciences about open ocean aquaculture and why the industry has struggled to take off in the United States.
The article, titled, “The $100 Million U.S. Government Fish Farm Nobody Wants” addressed the funding the National Oceanic and Atmospheric Administration (NOAA) has poured into aquaculture and why that money has not resulted in industry growth. Costa-Pierce explained that one hurdle is the immense costs of deep-water aquaculture. “By definition, you’re talking about industrial aquaculture,” he said. “The best way to do that would be to use existing deep-water infrastructure from oil rigs. If you’re talking about developing a whole separate infrastructure for offshore aquaculture separate from an existing capacity, I am very skeptical. In the Gulf, I don’t see very many companies rushing to get in because they know they can’t make money.”
To learn more about the University of New England’s Center for Excellence in Marine Sciences, visit www.une.edu/research/msc
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