Two Norwegian aquaculture companies celebrated milestones in early November as they sold their first fish.
With weekly harvests now underway, Stadlandet, Norway-based cod-farming company Statt Torsk entered into sales agreements for 1,600 metric tons (MT) of its farmed cod in Q3 2022. The contracts were valued at approximately NOK 75 million (USD 7.6 million, EUR 7.3 million).
In a filing with Euronext Growth Oslo, the company said it expects to harvest 500 to 550 MT of fish in Q4 2022 and 4,500 MT in 2023.
“Several building blocks came into place during Q3. The biological production is progressing according to plan, we have secured capacity on wellboat transportation, we harvested our first batches at Western Seaproducts, and we secured a large sales agreement,” Statt Torsk CEO Gustave Brun-Lie said.
In July 2022, Statt Torsk was granted an extension doubling its three farming sites at Rekvika to six, bringing its total in operation to eight farms. As of 30 September, 2022, the company's total fish volume at its Rekvika site was 2,640 MT. The weight of these fish under production ranges from from 2.3 to 3.9 kilograms. Rekvika’s planned weight whole-fish equivalent (WFE) is 3.3 to 4 kilograms.
At its Stokkeneset location, approximately 385,000 fingerlings were put to sea in Q3 2022. Added to the 105,000 fingerlings that were put to sea in April, it currently has 490,000 fingerlings at the site. Current production, together with an expected delivery of fingerlings in November, is expected to result in 3,000 to 3,500 MT WFE. This will be harvested in the second half of 2023 and the first half of 2024.
Earlier this year, the company raised approximately NOK 41.3 million (USD 4.2 million, EUR 4 million) through a private placement, with the net proceeds being used to finance the building of biomass and for general corporate purposes.
Meanwhile, Molde, Norway-based land-based hybrid flow-through system salmon farmer Salmon Evolution celebrated the harvest of its first salmon raised in a land-based salmon farm. On 3 November, the company transferred 30,000 salmon from Indre Harøy to the facilities of its processing partner Vikenco.
“Having successfully completed the first harvest is a historic milestone for Salmon Evolution. In just seven months, we have grown our salmon from 300 grams to harvest weight, clearly demonstrating proof of concept as to our approach to land-based salmon farming,” Salmon Evolution Interim CEO and CFO Trond Håkon Schaug-Pettersen said. “Salmon Evolution is all about creating optimal living conditions for the salmon, which in turn sets the basis for excellent biological performance and long-term profitability.”
According to the company, the salmon has been sold to a “selected group” of customers in Norway and abroad.
The first harvest, the company said, is essentially a proof of concept for the facility. Salmon Evolution has established a “clear roadmap” to producing 70,000 MT of salmon by 2030 at its hybrid flow-through system farm located in an abandoned quarry at Harøy.
“We are extremely excited to have completed our first harvest which will give us valuable insight into how we operate our facility,” Salmon Evolution Chief Operating Officer Ingjarl Skarvøy said. “Although batch one already has been a major success, we are confident that as we learn more and more, we will be able to continuously improve our operations and maximize the output from the farm while at the same time upholding the highest quality standards.”
Photo courtesy of Salmon Evolution
