The Kingfish Company experienced a record-setting second quarter in 2021, achieving milestone production and sales figures as well as increased harvest levels.
The company, which is expanding its recirculating aquaculture system (RAS) farm in Kats, The Netherlands and building a new farm in Jonesport, Maine, U.S.A., announced on 7 July that it had reached a new production record in Q2 2021 of 286 metric tons (MT) grown, a 17 percent jump over Q1. It also posted a sales growth of 56 percent in revenue to EUR 2.3 million (USD 2.7 million) compared to the previous quarter, and 42 percent to 197 MT in whole-fish equivalents.
Further quarter highlights included securing a final Maine Pollutant Discharge Elimination System (MEPDES) permit for the firm’s facility in Maine. In the U.S., the company is aiming to construct a 6,000 to 8,000 MT capacity facility, with groundworks planned between Q4 2021 to Q1 2022.
Additionally, the company also launched its retail-ready products into Whole Foods Market U.K. outlets, Hello Fresh European meal kits, and Albert Heijn grocery stores in The Netherlands.
“We are proud of our team, which has delivered over three years of successful and continuous system operation,” The Kingfish Company CEO Ohad Maiman said in a press release.
The company is also expanding its European facility. Stocking for the new system at the company’s Zeeland site was completed in Q2 2021, “bringing total installed capacity to 1,250 tons per year,” the company said. The goal is to expand the site’s capacity to 3,000 MT.
However, productivity was 0.62 kilograms per cubic meter per day, down from 0.70 the previous quarter, "as significant newly stocked system capacity matures,” The Kingfish Company said.
The Kingfish Company’s also announced the hiring of Lauren Enz to the new position of vice president of sales in the U.S. Enz will spearhead the company's U.S. market development and expansion.
“The addition of Lauren Enz ... is the next step in our strategic roadmap towards building significant production capacity in Maine for the U.S. market,” Maiman said. “Following the successful national launch of our Dutch Yellowtail retail product with Whole Foods Market, we aim to continue to develop long-term strategic client relationships ahead of domestic production, and we look forward to work with Lauren and gain from her remarkable experience and expertise.”
Enz previous worked as vice president of business development for Mark Foods and director of seafood purchasing for Darden Restaurants.
"In my career, I’ve had a passion for sharing the unique stories and experience of the seafood industry,” Enz said. “The passion Kingfish has for their amazing story of Dutch Yellowtail is extraordinary. I’m humbled and honored to lead the U.S. sales team in sharing their story."
The company’s yellowtail products, which are also featured in Whole Foods Market U.S. outlets, are certified by the Aquaculture Stewardship Council, the Best Aquaculture Practices program, and the British Retail Consortium.
Photo courtesy of The Kingfish Company
