First smolt release completed at Indre Harøy
LAND-BASED salmon farmer Salmon Evolution has successfully completed its first smolt release at the company’s new facility at Indre Harøy, Norway.
About 100,000 smolt were released with an average weight of around 300 grams. The smolt were supplied by Kraft Laks, Salmon Evolution’s in-house smolt facility, which the group acquired in August 2021.
Indre Harøy, located on the Norwegian west coast uses a hybrid flow-through system (HFS) designed for an annual capacity of approximately 31,500 tonnes. Salmon Evolution is also developing an
HFS land-based farm in South Korea, as a joint venture with Korean group Dongwon Industries.
The smolt transportation from Kraft
Laks to Indre Harøy was carried out with a live fish carrier after which the fish were carefully pumped into the first fish tank at Indre Harøy. All relevant fish health parameters were constantly monitored during the process with, the company reports, no negative indicators identified.
Salmon Evolution said that it is pleased to see that the conditions in the farm have been stable, the fish have shown good appetite and behaviour has been in line with expectations.
Håkon André Berg, CEO of Salmon Evolution comments: “Since we started construction back in May 2020, this is the moment that we all have been waiting for. I am extremely proud of our organisation and the fact that we have been able to adhere to our ambitious timeline, even with the challenges [that] faced us during the pandemic.
“At the same time, this is just the beginning. As we now move forward, our number one priority is the biology in our farm. Good biology will improve fish quality and translate into strong growth, which finally will be reflected in the financial performance.With our organisation now totalling more than 40 highly skilled employees, I am more confident than ever in our mission – extending the ocean potential.”
Over the coming months Salmon Evolution intends to gradually ramp up production at Indre Harøy with the next release of smolt planned already in May. Steady state smolt release volumes are expected from Q4 2022, when both completion of phase 1 and the first harvest are expected.
Meanwhile, the company’s latest capital raising exercise has brought in NOK 300m (£26.1m) for the company.
The share issue, in the form of a private placement on the Oslo stock exchange, allocated 33,333,333 offer shares at a subscription price of NOK 9.00 (£0.78) per share.
Salmon Evolution said:“The private placement attracted strong interest from Norwegian, Nordic and international high-quality investors and was significantly oversubscribed.”