Iceland-based flowthrough salmon-farming startup Laxey has transferred its first batch of salmon from a post-smolt facility to its grow-out tanks.
“This marks a significant step toward establishing long-term, large-scale production,” the company said.
Laxey, formerly known as Icelandic Land Farmed Salmon, was originally planning a 10,000-metric-ton (MT) salmon farm but has steadily increased those aspirations to 42,000 MT and has successfully raised millions via multiple funding rounds to do so. The company has also recently signed agreements with multiple equipment manufacturing companies, including BAADER, Marel, and AKVA.
The company said the stocking of its grow-out tanks marks the completion of the first phase of its six-phase development plan. Each phase consists of eight grow-out tanks measuring 28 meters in diameter and 13 meters tall – and containing 5,000 cubic meters of seawater – being brought online. Each tank uses water that Laxey said is pumped from deep boreholes “to ensure optimal water quality.”
Laxey said the project began with a hatchery in Friðarhöfn, Iceland, that utilizes a closed-loop recirculating aquaculture system (RAS), which came online in August 2024.
The first smolts from that hatchery were transferred to the post-smolt unit in November 2024, followed by a second batch in April 2025. So far, the company has had five batches enter the production cycle, and two of those batches are now in its grow-out facility.
“Construction has remained on schedule, advancing alongside the development of biomass,” Laxey said. “The first harvest is planned for autumn 2025, and preparations for a processing facility, to be located in Viðlagafjara, are already underway.”
