Land-based salmon farming company Andfjord Salmon reported it is nearing its first sale of post-smolt salmon in mid-June after strong biological performance.
The company said it plans to sell roughly 450,000 post-smolt from the K1 pool at its Kvalnes, Norway-based flow-through aquaculture system. The sale will be done through a strategic partnership with Eidsfjord Sjøfarm, and the company said it is ahead of schedule.
"Our inaugural post-smolt sale is an important milestone as it demonstrates how our infrastructure solutions enable scaling and optimization of pool capacity and production, which shortens our runway to revenue and improves our cash flow,” Andfjord Salmon CEO Martin Rasmussen said. “We look forward to proving this in practice in mid-June.”
Total operating income for the company in Q1 2026 was NOK 100,000 (USD 10,806, EUR 9,227), largely as a function of its status as a startup that is still building out its facility.
The company said it has successfully tested its “K3” pool, and after finding it adequate, it released 550,000 smolt into it, making it the third pool in operation at the facility. Those smolt were purchased from Eidsfjord Sjøfarm as part of the strategic partnership between the two companies.
"The initiation of fish farming operations in pool K3 represents further scale-up of operations at Kvalnes, with more pools to follow later this year," Rasmussen said.
Andfjord said its operation metrics and biological results are outperforming its expectations so far. Survival rates in both its operating pools are greater than 99 percent, and biomass growth is also exceeding expectations in both its K1 and K0 tanks. The company said those results are particularly impressive considering the salmon have spent eight months in K0 and six-and-a-half months in the K1 tank.
Total standing biomass at the facility is currently 1,584 metric tons (MT), the company said.
"The solid biological conditions are also reflected in the salmon's weight gain and the resulting biomass growth. We also maintain efficient feed utilization,” Rasmussen said. “Overall, we are very satisfied with our fish farming performance, and we look forward to replicating this in more pools going forward.”
The company said it reached an average weight of 2 kilograms per salmon in roughly seven months in pool K0, which exceeded the company’s expectations.
Looking forward, the company said it has entered a fixed-price contract with Entreprenør Harald Nilsen for the construction of pools K5 and K7 at its Kvalnes location. That contractor is currently completing pools K2 and K4, and Andfjord said it is “highly satisfied” with the progress that has been made so far.
Andfjord Salmon filed a NOK 1 billion (USD 108 million, EUR 92 million) claim against its main contractor AF Hæhre & Contur Ans in December 2025, claiming “gross negligence” in its construction methods.
