June 11, 2022

Salmon Evolution to expand into North America and boost its production capacity target

Salmon Evolution ASA has announced that it is planning to expand to North America and boost its production capacity target to 100000 tonnes of head on gutted (HOG) salmon, Fish Information & Services reported.

Salmon Evolution is currently evaluating identified potential production sites in North America as part of this process. The remainder of 2022 is expected to be used for site selection and initial site verifications.

Furthermore, the pre-construction phase, which includes regulatory approval processes, is expected to take two to three years, allowing construction to begin in 2025. The plan is to construct a full-scale 31,500 tonnes HOG "Indre Hary" facility, drawing on lessons learned in both Norway and Korea.

The company has put together a dedicated team of both internal and external resources to help with this expansion. In addition, the firm will create a US corporate structure that will be fully owned by it.

Although Salmon Evolution began in Norway, Hkon André Berg, CEO, stated that the company has always had global ambitions. With the addition of North America to our portfolio, the company will have a presence on all three of the world's major salmon-consuming continents.

The CEO also said they expect to demonstrate the operational viability of their concept over the next 12 months, cementing Salmon Evolution's global leadership position in the land-based salmon farming industry.

Salmon Evolution's long-term strategy of pursuing accretive partnerships in international markets has not changed. Salmon Evolution intends to engage in partnership structures as the project progresses, leveraging the company's human capital and maximising shareholder value.

-      Fish Information & Services