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Scott Fonte, left, and Mark Doherty, at Aqua Vita Farms in Sherrill in 2011. Doherty, the owner, has announced he's shutting the business down because of a lack of money.

(Stephen D. Cannerelli / Post-Standard file photo)

Sherrill, NY -- Aqua Vita Farms, a company that hoped to pioneer the combined business of aquaculture (fish farming), with hydroponics (growing produce in water, not soil), has closed, company founder Mark Doherty announced Friday.

The decision came less than a month after Doherty had made a public plea for investor help, seeking a cash infusion to keep the business going.

Doherty said then that after two years in business, he had "figured out" how to make the venture profitable, but needed money to continue to the next phase.

On Friday, Doherty posted this on the company Facebook page:

Aqua Vita had gained international attention for its efforts in aquaponics, in which waste produced by the fish farming provides nutrients for the plants. Aquaponics operations typically sell both the fish and the produce.

Aqua Vita had a number of local customers, including both restaurants and produce retailers. Doherty said he had learned after two years which produce and which fish sell best in this market, but was running out of time to make changes.

During an interview in June, Doherty estimated he's invested $500,000 in the business so far. That includes a $200,000 Oneida Savings Bank loan that was backed by the U.S. Department of Agriculture's New York state office of Rural Development.

Doherty said he had to put up his home and other assets as collateral with the USDA to get that loan, and they are at risk if he closes or sells at a loss. "I will honor all my commitments, including to the USDA," he said last month.