Economic Potential

Building more value from North America’s eel resource

NovaEel’s opportunity extends beyond the development of a new aquaculture technology. By enabling commercially viable eel grow-out in North America, the company has the potential to help retain more of the economic value generated from a resource that originates here but is currently grown predominantly overseas.

Commercial eel aquaculture could support new value-added activity in Atlantic Canada through farming, processing, research, technology development and export-oriented production.

Capturing More Value in North America

North America supplies the juvenile eels that underpin a significant international aquaculture industry, but most of the value created through grow-out, processing and final sale is currently realized overseas.

NovaEel’s objective is to help change that equation by enabling commercially viable eel aquaculture closer to the source of the resource. Retaining more of the production cycle in North America could create new economic activity while strengthening the connection between the fishery, aquaculture and value-added seafood production.

From Fishery to Value-Added Industry

NovaEel’s development aligns with broader priorities around innovation, productivity, value-added seafood production, export diversification and regional economic growth. By applying biotechnology to an existing Atlantic resource, the company is working to create more economic value from the fishery while building new commercial and technical capacity in the region.