The Faroese government has presented a proposal to its parliament that seeks to adjust the archipelago’s revenue tax on the salmon-farming industry beginning in 2023.
Its proposal includes three key revisions to the current revenue tax system, which was originally introduced in 2014.
In a filing with the Oslo Børs, Faroese salmon producer Bakkafrost stated that the planned changes are ...
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Malakoff, France-based start-up Ozers confirmed opening a funding round to raise an additional EUR 300,000 (USD 298,000), having previously raised EUR 850,000 (USD 843,000).
The current product line consists of plant-based sports supplements marketed towards athletes, with its use of microalgae as ingredients seen as setting its range apart from similar offerings ...
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SalMar has confirmed that its chief financial officer, Gunnar Nielsen, has notified the company that he has resigned from his position. Nielsen has only been with SalMar since April 2022.
In a statement, SalMar said that it “has with regret accepted Nielsen’s decision” and will promptly start the process of recruiting his replacement.
Nielsen held the position of CFO at Faroe Islands-headquartered Bakkafrost between 2014 and… Read More
Bottom-trawling – regarded as one of the most-destructive fishing methods – could be largely replaced in European Union fisheries by far less-aggressive, readily-available fishing gears, according to a new report published by ocean protection organizations Seas at Risk and Oceana.
The report, “Exploring Alternatives to Europe’s Bottom Trawl Fishing Gears,” found that bottom trawling is the main fishing method used… Read More
Seltjarnarnes Iceland-based salmon-farming company Ice Fish Farm AS (IFF) has reported an increased Q2 operating income of NOK 87 million (USD 8.3 million, EUR 8.5 million) for the three months ending 30 June, 2022, compared with NOK 69 million (USD 6.6 million, EUR 6.7 million) in Q2 2021.
Ice Fish Farm’s concentration on selling on the spot market allowed it to achieve a good price for relatively small-size fish, IFF said in a… Read More
The government of Norway has proposed a new resource rent tax on aquaculture, with effect from 1 January, 2023, which will affect producers of salmon, trout, and rainbow trout.
The tax is expected to generate proceeds of between NOK 3.65 billion and NOK 3.8 billion (USD 347 million and USD 361.2 million, EUR 355.6 million and EUR 370.2 million) annually. According to the plan, which would need to be approved by parliament, half of the revenues… Read More
Scottish salmon farmers have saved a historic dam in order to maintain a wild salmon run.
Fincastle Dam, located in West Harris, on the Western Isles of Scotland, is a Victorian-era structure built in the 1890s. The dam forms nearly the entire western bake of Loch Fincastle, and forms an integral part of the landscape and helps support wild salmon spawning grounds in the Laxdale River.
Roughly a year ago, the dam sprung a leak and was on the… Read More
Mowi Scotland has appealed a recent refusal of its proposal to expand its Loch Hourn farm in Scotland, citing a lack of fact-based reasons to refuse the expansion.
Mowi’s proposal called for an increase in the production capacity of the farm from a limitation of 2,500 metric tons (MT) of production to 2,750 MT – a 10 percent increase in salmon production that the company would farm in fewer, larger pens.
The Loch Hourn salmon… Read More
Nesle, France-based insect meal producer Innovafeed has raised USD 250 million (EUR 256.1 million) in Series D funding with the round led by Qatar Investment Authority (QIA), existing investors Creadev and Temasek, and new investors ADM and Cargill – both of whom have strategic partnerships with Innovafeed – as well as Future French Champions, ABC Impact, IDIA Capital Investissement, and Grow Forward.
This latest round of… Read More
Having recently secured Aquaculture Stewardship Council (ASC) accreditation for its operations on the west coast of Scotland, Scottish Sea Farms has now secured the first certification for a salmon farm in Orkney.
The Lober Rock site, at the southeast corner of Scapa Flow, underwent a series of audits to meet the criteria for ASC certification. The farm, which became operational three years ago, has had a very strong start, with 91 percent… Read More