Bergen, Norway-based Proximar Seafood has signed an extension to its memorandum of understanding with the Marubeni Corporation for the distribution of Atlantic salmon produced at its new land-based facility in Japan.
Marubeni is one of the largest general trading companies in Japan, with 136 branches and offices in 68 countries and regions. With Proximar’s first recirculating aquaculture system (RAS) facility currently under construction at the foot of Mount Fuji, the two parties have been working on establishing a common framework for the future sales and marketing of the fish in the Japanese market since May.
Proximar CEO Joachim Nielsen said an initial MoU between his company and Marubeni, signed in May 2021, has been extended to finalize the negotiations, with the intention to “conclude on a firm off-take agreement.”
“We are very pleased about the progress in our discussions made over the past months. Marubeni has allocated significant resources and a very competent team to the discussions, which is really encouraging. We share the same view on the product’s attractiveness and potential for branding and pricing, which is important for Proximar,” Nielsen said.
In March 2021, Proximar signed a construction contract with Daiwa House for the delivery of the new facility, which will utilize RAS technology developed by AquaMaof.
“The construction planning was time-consuming but pays off when progress so far is in accordance to time and budget. We are now focusing on the operational planning and sales strategy,” Nielsen said. “An off-take agreement for sales is an important part of the long-term bank financing. Next summer, the first eggs will be delivered, and the first sales are expected in H1 2024.”
Proximar recently received fresh samples of Atlantic salmon produced in AquaMaof’s facility in Poland, which it then distributed to relevant parties in Japan.
“The feedback was very positive, and we look forward to serving the Japanese market with the freshest Atlantic salmon from 2024,” Nielsen said.
Proximar announced a salmon-egg supply contract with Benchmark Genetics in July 2021.
Photo courtesy of Proximar Seafood
