The Kingfish Company announced today that it plans to increase its current capacity guidance on all current and future facilities from 1,250 metric tons (MT) to 1,500 MT a year, and that it is currently researching potential aquaculture sites in Southern Europe and on the U.S. West Coast.
The announcement comes as the company nears four full years of continuous system operation at its facilities.
“We are continuously impressed with the robustness and quality of our systems, and proud of the high level of professionalism of our team,” The Kingfish Company CEO Ohad Maiman said. “We are now looking back at close to four years of successful and continuous operation with no mass-mortality events. With productivity consistently exceeding initial design capacity, we are confident that the nameplate capacity of our current and planned systems can be increased substantially compared to earlier estimates.”
Maiman said the company had record production in the third quarter, record harvest levels, and record sales prices.
In Q3 2021, the company has had 338 MT of growth, 26 percent over its previous record – which it achieved in Q2. Productivity was 0.68 kilograms per cubic meter per day, an increase of 10 percent.
Sales compared to Q3 2020 increased by 54 percent to EUR 2.8 million (USD 3.2 million). The company saw prices of EUR 12.20 (USD 14.09) whole-fish equivalent (WFE) per kilogram on overall sales, and it achieved an average sale price on large fish of EUR 13.70 (USD 15.82) WFE per kilogram.
The company also announced that development on its planned facility in the Netherlands is on schedule, and will increase installed capacity to 3,500 MT by Q4 of 2022. Phase 1B has been completed, it said.
The company’s planned facility in Jonesport, Maine, U.S.A. is also on schedule, the company said, with state and federal land side permits “on track.” The projected production capacity of the facility has increased from 6,000 MT to 8,000 MT up to 8,500 MT a year. The company said it is considering additional production capacity in Maine in the future.
Photo courtesy of The Kingfish Company
