Sarasota aquaculture company raises $6M, expands into Lee County

After a Sarasota-based aquaculture company raised $6 million in Series A financing, it has broken ground on a commercial aquaculture facility in Lee County. Pine Island Redfish produces American redfish, also known as red drum, through advanced land-based technology. It developed and validated its commercial production model at Mote Aquaculture Research Park on Fruitville Road, where it will continue producing redfish as construction progresses on the new facility, which is about 3 miles south of the bridge to Pine Island. The property contains more than 80 acres of development space and significant potential for phased expansion. Construction is expected to last about 12 months. "Breaking ground on Pine Island is an exciting milestone for our company and will fulfill a substantial demand for locally produced seafood," Megan Sorby, co-founder and CEO of Pine Island Redfish, says in a statement.

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