Sweden’s first major salmon farm receives £42m EU grant
THE European Investment Bank (EIB) is to provide 530m Swedish kroner (SEK) (£42m) to build a “super green” land-based salmon farm in Sweden.
The company behind the project is RE:OCEAN, which is planning to produce 10,000 tonnes of salmon a year by 2026.
RE:OCEAN has been given this generous support because of its commitment to innovative and sustainable food production.
The bank said RE:OCEAN was revolutionising the seafood industry, with land-based salmon farming of the future at a large-scale facility near the attractive woodland town of Säffle in the south of the country. It will be powered by fossil-free energy and almost all the water used will be in a closed environment.
With its new “ocean-on-land,” it will be able to produce 10,000 tonnes of sustainable and healthy salmon every year. Sweden currently imports most of its salmon, mainly from neighbouring Norway.
The project is supported by Sweden’s three leading wholesale companies – Axfood, Coop and ICA – which see great opportunities in being able to offer consumers healthy and sustainable Swedish salmon.
EIB Vice-President Thomas Östros, who is responsible for EIB operations in Sweden, said: “We are delighted to finance this groundbreaking, major project for sustainable food production.
“Not only will RE:OCEAN’s new facility provide the Swedish population with domestically and sustainably produced salmon, but it will also do so in an innovative and climate-friendly way, employing cutting-edge zerowater circulation technology.”
RE:OCEAN CEO Morten Malle said:“The EIB investment is a strong signal of trust and a cornerstone for other investors.”