Atlantic Sapphire’s United States farmed salmon operation is quickly growing as the company acquires additional land.
Miami, Florida, U.S.A.-based Atlantic Sapphire USA has entered into an agreement to purchase an additional 80 acres of land in Homestead, Florida, for USD 5 million (EUR 4.5 million).
The property, adjacent to its existing 80 acres, will support the producer’s plan to expand production capacity to 220,000 metric tons annually by 2030, as well as develop additional vertical integration opportunities, the company said.
Atlantic Sapphire acquired all approvals necessary to begin the first phase of its salmon operation this spring, which will cost around USD 100 million (EUR 90 million), Atlantic Sapphire CEO and founder Johan Andreassen told SeafoodSource in March.
Andreassen said he expects the facility will be capable of producing around 10,000 metric tons of rough-weight salmon, or 22 million pounds annually, by the time the phase one build-out is complete – the culmination of phase one is expected by the end of 2019 or the beginning of 2020.
In May, the producer pulled in nearly USD 90 million (EUR 80 million) in just 29 minutes in a private placement – a private, rather than public, sale of stocks, bonds, or securities. The equity raised at the Oslo Stock Exchange in Norway totaled NOK 783 million (USD 90 million, EUR 80 million).
The funds were obtained so quickly because Atlantic Sapphire revealed that it is accelerating its recirculating aquaculture system (RAS) farm buildout, Karl Øystein Øyehaug, finance director for Atlantic Sapphire, told SeafoodSource.
“We expect to harvest the first fish from the U.S. in mid-2020,” Øyehaug said.
The salmon from its Miami facility will primarily be sold in the U.S. market, as well as in Canada and Mexico, according to Øyehaug. The company is targeting all segments – including retail and foodservice – but has not yet named buyers, Øyehaug said.
Atlantic Sapphire USA also said it hired Svein Taklo as chief development and infrastructure officer (CDIO), who will start on 1 October. Taklo brings extensive experience from the cruise shipping industry, managing engineering projects and maintenance operations,” the producer said in a statement. Taklo has held senior management roles in marine and technical operations for Hurtigruten AS and Royal Caribbean Cruises Ltd.
“This addition to Atlantic Sapphire is another step in the company’s strategy to implement learnings from other large, technically advanced industries into Bluehouse salmon farming,” Atlantic Sapphire said.
