GAINESVILLE, Fla. and , -- The Florida Institute for the Commercialization of Public Research (the Florida Institute) announced today that it has finalized a funding agreement with Panacea Oyster Co-Op Corporation (POCC), a -based company with technology developed at the Wakulla Environmental Institute. The Florida Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.
Today 85% of all natural US and global oyster beds are gone, and a void has been left in the market for oyster aquaculture ranching. Panacea Oyster Co-Op Corporation (POCC) was founded by a group of oyster ranchers to cultivate a new full water column oyster farming community. This aquaculture method keeps oysters safe from bottom-dwelling predators while taking advantage of the nutrient-rich water surface which is free from the pollutants that settle at the bottom.
"The US is the second largest seafood consumer, and oysters are in high demand," said Robin Olin Panacea Oyster Co-Op Corporation, Chief Executive Officer. "Our goal is to lead the largest resurrection project in the history of by creating primary water filtering system (one oyster filters up to 50 gallons of water per day) to facilitate the re-establishment of all Gulf flora and fauna to its full vibrancy, and to create a successful keystone model for other oyster farmers to mirror and emulate in the future…profitably."
"Due to the unique combination of high nutrient content and a close proximity to the largest known fresh-water spring, POCC is positioned to change the aquaculture ranching business," said , MD, Florida Institute Chief Executive Officer. "We look forward to their progress in filling this unique void in the marketplace, and the positive economic impacts they will have in the ."
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