Releasing 2022 results, land-based farmer Salmon Evolution says it has achieved proof of concept

Salmon Evolution CEO Trond Håkon Schaug Pettersen (right) and new CFO Trond Vadset Veibust.

Molde, Norway-headquartered Salmon Evolution posted higher losses in 2022, but said it has achieved proof of concept for its flowthrough salmon-farming model.

Established in 2017, Salmon Evolution is using proprietary flowthrough technology for a salmon farm being built in an abandoned quarry on the west coast of Norway that it expects will eventually produce 50,000 metric tons (MT) of Atlantic salmon annually. The first phase of the farm – eight out of 12 tanks in total – came into operation in March 2022 and the company harvested its first fish in November 2022. The farm’s first phase has an annual production capacity of 7,900 MT head-on gutted salmon.

“2022 was a step change year for Salmon Evolution starting with the batch one smolt release in March as per the original timeline and rounded off by fully harvesting out our first batch with excellent results,” the company said in a release. “Through this great achievement, the company has demonstrated that it is possible to produce salmon on land, all the way to full harvest weight, at an industrial scale, with strong biological performance and with the end result being an excellent quality product.”

Salmon Evolution said its K Smart joint venture with Seoul, South Korea-based Dongwon Industries, which was finalized in March 2021, is now working on design and engineering of its 16,800 MT-capacity land-based salmon farm in Yangyang, Gangwon-do, South Korea, and a grow-out facility designed by Billund Aquaculture in Jeongseon, South Korea.

And early in 2023, Salmon Evolution revealed has initiated the process of establishing a land-based salmon farming operation in North America with a planned annual capacity of 31,500 metric tons. To facilitate the expansion, the company has established a U.S. corporate entity and is pursuing a partnership strategy, it said.

The first phase of the Norwegian farm’s development will be completed in Q1 2023 with an estimated capex of ...

Photo courtesy of Salmon Evolution

SeafoodSource Premium

Become a Premium member to unlock the rest of this article.

Continue reading ›

Already a member? Log in ›


Want seafood news sent to your inbox?

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500