The company is seeking a grant from the European Union’s Next Generation fund, an economic recovery package created to help member states bounce back from COVID-19 losses. The plant is expected to produce 3,000 tons of octopus per year, which is equal to 10% of the annual catch of the Spanish fleet. Nueva Pescanova plans to invest €50 million (approximately $57 million) in the octopus farm in the port of Las Palmas in the Canary Islands, according to PortSEurope. According to their reports, the company will begin selling farmed octopuses in 2023. Scientists and environmental conservationists are opposing the development of the world’s first commercial octopus farm, arguing that it would torture an animal research has repeatedly proven to be sentient.ĭriving the news: Spanish multinational firm Nueva Pescanova, which focuses on seafood commercialization and farming, succeeded in breeding the octopus in July 2019.
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