Integrated Aquaculture International Acquires Kona Bay Marine Resources
A subsidiary of Integrated Aquaculture International, LLC (IAI) has purchased a majority interest in Sunrise Capital, Inc., a Hawaiian holding company doing business as Kona Bay Marine Resources. From its breeding operations on the island of Kauai, Kona Bay exports genetically-selected specific-pathogen-free (SPF) Pacific white shrimp (Litopenaeus vannamei). In addition, its nearby aquaculture farm, consisting of 48 plastic-lined round ponds and a processing plant, is the largest in Hawaii.
IAI is an aquaculture technology company which offers products and services in aquatic animal health, genetic selection, hatchery and pond management, nutrition, processing, and marketing. IAI has developed an SPF line of black tiger shrimp (Penaeus monodon) through a contract with the government of Brunei Darussalam.
George Chamberlain, one of the principals of IAI and now president of Sunrise Capital, Inc., described the businesses of IAI and Kona Bay as complementary in many ways. “The two companies will mutually benefit through enhanced ability to provide high quality products and services to meet the significant challenges presently facing the shrimp farming industry,” he said.
James Sweeney, manager of Kona Bay, also welcomed the new relationship. According to Sweeney, “The talented team at IAI will not only help Kona Bay improve its breeding and production operations in Hawaii, but also provide a critical link to clients in Asia and Latin America.” Sweeney began his career at Japan’s renowned Fujinaga Institute in 1979 and continued at Hawaii’s Oceanic Institute, where he assisted in the development of SPF white shrimp and intensive culture technologies. He has worked at the Kauai-based shrimp facilities since their inception in 1997.
According to Chamberlain, IAI had already been using Kona Bay broodstock for two years through its clients in Asia. “We knew their stocks performed well in the field,” said Chamberlain, “but during the transaction, we discovered that they included an unusually rich collection of breeding lines for fast growth and disease resistance.” Other unique advantages are Kona Bay’s unparalleled water quality from deep seawater wells and their intensive ponds, which allow the company to evaluate its lines in on-site commercial trials.
In addition to its existing operations, Kona Bay includes 200 hectares of adjoining land suitable for aquaculture development. According to Chamberlain: “Access to pristine seawater and year-round growing conditions provide unique capabilities for developing breeding, hatchery, and growout technologies for a variety of high-value marine species. We welcome collaboration with groups interested in exploring these exciting opportunities.”
