The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

CORAL Vita – the first land-based commercial coral farm in the world - was officially opened on Friday in Freeport, creating a new sector of sustainable aquaculture and innovation for reef restoration in Grand Bahama and The Bahamas.

Deputy Prime Minister Peter Turnquest was among many invited guests at the ribbon cutting and tour of the facility located at Magellan Street.

At the farm, coral is being grown 50 times faster in open touch tanks and will be transplanted in the ocean to restore dying coral reef systems in The Bahamas and globally.

The operators will utilize cutting-edge technology known as micro-fragmentation to accelerate coral growth in a matter of months, faster than the normal growth rate which takes decades in the ocean.

They have also been able through ‘assisted evolution’ methods, grow a more diverse hardy, cost effective coral resilient to threats of climate change.

Mr Turnquest indicated that the launch of the project holds local and global significance.

“We know that the world is watching what happens here in Grand Bahama and we look forward to opening up a new sector of our economy, educating our people and, of course, repairing one of our most precious resources - our precious coral reefs,” he said.

He recalled that when Coral Vita co-founders Sam Teicher and Gator Halpern first put forward the idea, many of them at the table were a bit sceptical about the viability of such a project.

Turnquest said that the founders’ vision to create a global network of reef restoration projects through tourism, fisheries, and coastal protection was in line with government’s vision to protect the environment and to responsibly and sustainably harness the nation’s natural resources for the country’s socio-economic advancement.

The Deputy Prime Minister noted that the state of coral reefs around the world, including the Bahamas, are in decline.

He stressed that many of the reefs which were once teeming with marine life have become what one Australian writer called ‘zombie ecosystems’, neither dead nor truly alive in any functional sense.

“The Coral Vita farm planned for this island will in the short, medium and long-term work to reverse that trend. Not only have Sam and Gator put together a comprehensive plan to help to restore the island’s dead and dying coral reefs but the project will serve as a unique and vibrant tourist attraction and education centre, offering reef restoration opportunities to visiting guests, residents and young students,” he explained.

“The ultimate goal is to work in conjunction with other scientists, communities, businesses, and governments around the world, to provide restoration projects with more diverse, rapidly growing, and heartier corals. Equally important to all concerned is the economic benefits that this project will have for Grand Bahama Island.”

“We’ve heard the cry of Bahamians everywhere to put more emphasis on the use of our natural resources. We understand the important role that these resources have on sustaining Bahamian life as we know it and we are all committed to transforming not just the environment around us, but also the economy.”

Mr Turnquest said the introduction of Coral Vita to Grand Bahama is a major step towards diversifying the island’s economy, and signals a new and exciting era in the evolution of the island and the country.

The Grand Bahama Port Authority and the Grand Bahama Development Company fully support the Coral Vita project.

Rupert Hayward, executive director of GBPA, said he learned of the Sam and Gator three years ago and their dream to build the first commercial coral farm, and convinced them to bring it to Grand Bahama.

“It gives me enormous pride that their dream in part has become a reality,” he said.

“The farm signifies more than just a world class research lab, educational facility, and tourism centre, it also represents a marker in the sand for a new era in GB’s evolution – a shining light that communicates to the rest of the world that GB is now home to cutting edge sustainable innovation, and that our doors are open to other such businesses who need a home.

“We don't think it is beyond our reach to become a world-renowned hub of sustainable aquaculture and innovation, thereby creating a powerful new sector into our economy,” he said.

Through repairing coral reefs, Mr Hayward said the farm will also help protect assets that contribute over $300 million to the national economy every year.

He also noted that reefs, which dissipate around 97 percent of the waves kinetic energy, are critical in protecting the island’s south shore infrastructure from the effects of hurricanes.

Co-founder Sam Teicher said that a world without coral reefs would be an “ecology tragedy” and would impact the livelihood of billions of people.

In the Bahamas, he noted that over 80 percent of the coral reefs are dead.

“If meaningful climate change action is not enacted in the next several years by those with responsibility and power to do so, they will put us on a path to lose more than 90 percent of the reefs in the next 30 years,” he said.

Although coral reefs occupy less than one percent of the ocean floor, they sustain a quarter of all marine life, Teicher said.

“Coral reefs support the livelihood of up to 1 billion people, and conservatively generate 30 billion a year globally through tourism, fisheries and coastal protection.”

He indicated that in the Bahamas alone coral reefs have a total value of $350 million. “That is quite a considerable portion of GDP,” he added.

Mr Teicher also said that in the Bahamas some $150 million is generated through reef based recreation, fishing, snorkeling, etc , with tourists spending between 60-80 percent on such activities.

“It is not only dive shop owners who prosper, but also restaurants, and hotel operators,” he added.

He said that Coral Vita cannot rely on grants alone and will be in the business of selling coral.

“We recognize that grants alone will not scale restoration to the levels needed; we believe vast sums of capital need to be injected to really create an industry that can support restoration at an ecosystem level,” Teicher explained.