FRD Japan Co., Ltd. plans to build a commercial land-based aquaculture plant for trout farming in Chiba, Japan. FRD aims to produce 3,500 metric tons of trout annually starting in 2027.
FRD has been operating pilot plants for trout farming in Chiba and Saitama since 2018. The experimental plants have farmed more than 20 generations of fish and have demonstrated stable trout production without depending on the sea by maintaining ideal water quality through a unique RAS.
Over the five years of operating the pilot plants, FRD has accumulated sufficient knowledge to now be able to launch the commercial plant, both in terms of improving its proprietary RAS and increasing the efficiency of its farming operations. FRD aims to develop multiple land-based aquaculture plants for farming salmonids with a maximum capacity of 10,000 metric tons per plant, mainly in Asia, including Japan.
In addition, FRD will raise funds through a third-party allocation of new shares and loans using its framework for blue sustainability finance. FRD has reached agreements with Air Water Inc., STI Food Holdings, Inc., Sekisui Chemical Co., Ltd., Haseko Corporation, Sumitomo Mitsui Trust Bank, Limited, Mitsui & Co., Ltd., and MUFG Bank, Ltd. to raise a total of ¥21 billion (USD 150 million) through a third-party allotment of new shares.