Land-Based Indoor RAS Atlantic Halibut (Hippoglossus hippoglossus) Deep Cold Raceway 2026

Underwrite stacked shallow flat-bottom raceways rearing cold-water Atlantic Halibut (reaching 5.0kg premium whitefish size in 24 months), wholesale market pricing ($26.50/kg), and facility EBITDA.

Underwriting Assumptions

Annual Atlantic Halibut Harvest (Metric Tonnes)

Wholesale Farm-Gate Halibut Price ($/kg)

Biological Feed Conversion Ratio (FCR)

High-Protein Marine Extruded Pellets ($/kg)

Deep Chilled RAS Power, Oxygen & Labor ($/yr)

Projected Economics

Gross Annual Halibut Sales

Annual Feed Expenditure

Net Annual Operating EBITDA