"Last financial we were pleased to grow our tio business by 10 per cent, so the loan is also an acknowledgment of our value of whakatipuranga in safeguarding fisheries for future generations."
Oysters are placed in baskets and then submerged at various depths to grow, encouraged by the ocean's natural tidal movements. Flip farming replicates these movements by semi-automating the basket flipping process.
This is usually a manually laborious process requiring skilled workers year-round to turn baskets by hand during an oysters' 18-month growth cycle.
Fiona Wikaira, general manager operations – shellfish and meals, said early indications show more than 30 jobs at Parengarenga, Whangaroa, Coromandel and Orongo are expected.