A memorandum of understanding has been signed by BioMar Group and Síldarvinnslan for the construction of a high-tech aquafeed production facility in Iceland, with the aim for the venture to achieve net-zero within its own operations.
BioMar said that through the move, it will become the only global feed company in the Icelandic market, while Síldarvinnslan expects to be able to fully-utilize by-products from its fishing operations.
The facility will also tap into BioMar’s R&D portfolio and knowledge in the use of novel ingredients.
“As part of our strategy, above and beyond, we are committed to expanding our business to new geographies and demonstrating our sustainability ambitions. Partnering with Sildarvinnslan offers a great opportunity to grow the Icelandic industry locally, and in a sustainable way,” BioMar CEO Carlos Diaz said.
The agreement includes Sildarvinnslan’s Laxá production facility and existing feed operations which have been importing and distributing BioMar starter feeds for several years.
Síldarvinnslan CEO Gunnþór Ingvason highlighted the long-standing relationship between the two companies and said the new joint-venture is an “ideal fit between two companies fully dedicated to driving an ambitious sustainability agenda.”
“Our expertise in the production of sustainable marine raw materials and by-products, our fish processing and farming technologies combined with BioMar’s feed production knowledge will give us the opportunity to supply Iceland’s aquaculture industry with feed that will enable a differentiated offering to the global market," Ingvason said.
Photo courtesy of BioMar
