Group of Local Nonprofits and Investors Purchase ARC Hatchery
Richard Kraus explains the processes inside the hatchery.
DENNIS – The Aquacultural Research Corporation has transferred its hatchery business to new ownership and management.
A group of investors led by the Cape Cod Commercial Fishermen’s Alliance made the $3 million deal to ensure the future of the hatchery in Dennis.
ARC will now be led by CEO Rob Doane, who joined ARC in December of 2014.
“I got involved in the project to preserve this hatchery, which is a vital resource for shellfish aquaculture in the state of Massachusetts,” Doane said. “Without this resource the future of the states $23.1 million aquaculture industry would have been in jeopardy.”
The business will look to enhance aquaculture operations with a new facility.
“We are going to be constructing a new hatchery that will be able to increase our production to meet growing demand while creating jobs, supporting a Cape Cod way of life and cleaning the environment,” Doane said.
The new hatchery should be ready for the 2016 season, according to Doane.
The nonprofit Fishermen’s Alliance was the first to sign on eight months ago.