Market – May 30, 2024
Walton-backed aquaculture technology centre to spinout Canadian operations
Spinout is part of a strategic alignment to optimize technical specialization says company.
The Center for Aquaculture Technologies (CAT), owned by Walton family-backed investment group Cuna del Mar, has announced the spinout of its Canadian subsidiary, Center for Aquaculture Technologies Canada (CATC), into an independent company.
The spinout is part of a strategic alignment to optimize technical specialization. Both entities will continue as sister companies and integral parts of the Cuna del Mar portfolio, continuing collaboration while operating under separate governance and management structures, according to a press release from the company on Wednesday.
CAT, based in San Diego, California, will focus on advancements in aquaculture genetics. The company boasts state-of-the-art genotyping laboratories and a team of genomics and bioinformatics experts. It develops custom genetic tools for various aquatic species and supports organizations in genetic improvement programs.
CATC, a contract research organization with GMP release capabilities, will continue operations in Souris and Victoria, Prince Edward Island, Canada. Its focus remains on health and nutrition research for aquatic animals, supported by diagnostic services and a commercial-scale feed extruder.
John Buchanan, CEO of CAT, stated, “The realignment empowers CAT to pursue innovation in genetic improvement with a strategic focus. We are excited about the opportunities to bring our genome editing technologies to commercial impact while honoring environmental stewardship.”
Myrna Gillis, the newly appointed CEO of CATC, commented, “The realignment allows us to deepen our expertise in health, nutrition, diagnostics, and specialty feed production. We are committed to driving meaningful contributions to the growth of the aquaculture sector.”
Both organizations will retain their senior management and frontline teams to ensure continuity and maintain high service standards. CAT has invested significantly in genome editing, developing core intellectual property to produce 100% sterile fish for farming, and will continue its Next-Gen Breeding™ initiative.
Despite their independent operations, CAT and CATC are committed to collaboration and knowledge sharing, aligned in their mission to drive innovation and progress in aquaculture.
