New Walton-backed Atlantic salmon broodstock company launched

Editorial Staff

The company’s Atlantic Salmon strain, sourced from the USDA, is being developed with a focus on performance in land-based systems.

SalmoGen, a new commercial Atlantic Salmon broodstock operation, has been launched in Maine.

The company aims to produce 25 million eggs annually in its first development phase, targeting both domestic and international markets.

The initiative is backed by a coalition including Walton-backed Cuna Del Mar, Builders Vision, The Penobscot Indian Nation, and Xcelerate Aqua.

“We have been contemplating an Atlantic salmon broodstock opportunity for years, and in the SalmoGen case, the pieces came together in a way that moved us to invest and to also be a committed industry partner,” said Chris Perry, Cuna Del Mar and SalmoGen Board Chairman.

The company has had broodstock under development since early 2023 in two partner locations. The company’s broodstock facility is being developed on Penobscot Trust Land in Maine in a partnership with the Penobscot Indian Nation. 

“The Penobscot Indian Nation has been interested in aquaculture for some time. This project fits very nicely on Indian Island and we are excited to be a part of the solution for future aquaculture development in the US. We are also excited to expand our commitment to bringing back wild salmon to the Penobscot River,” said Penobscot Indian Nation Chief Kirk Francis.

USDA a strategic supplier

SalmoGen’s establishment addresses the gap in the US market for a producer-independent supply of Atlantic salmon eggs, which has been a barrier to the domestic salmon industry’s growth, according to a press release from the initiative.

Salmogen started its Atlantic Salmon broodstock program in late 2022 with USDA as a strategic supplier of genetics and stocking material.

Formed in late 2022 through a collaboration of industry players, investors, and academic resources, SalmoGen is financially supported by the Finance Authority of Maine (FAME).

The company is working with leading US and international resources in breeding program development, including the USDA, the University of Maine, the University of Idaho, the University of Maryland, Center for Aquaculture Technologies, Innovasea, and Xcelerate Aqua.

The first product launch is anticipated in 2027. Backers of SalmoGen have expressed their commitment to the project, highlighting its importance for sustainable food production, ecosystem restoration, workforce development, and the future of aquaculture in the US.

“Builders Vision has prioritized investing in highly impactful companies that contribute to ocean health and sustainable food production, including aquaculture.  With SalmoGen, we were impressed by the social and environmental profile of the company, its commitment to ecosystem restoration and workforce development, and its strong partnership with the State of Maine and the Penobscot Indian Nation,” said Builders Vision Program Director Peter Bryant.


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