June 15, 2023

Norway-based Andfjord Salmon to expand overall salmon production to 40,000 tonnes

Norwegian land-based Atlantic salmon farmer Andfjord Salmon announced it will progress with build-out plans that will enable an increase in total production volume at its Kvalnes site, on the island of Andøya, to 40,000 tonnes head-on gutted (HOG) over the next seven years.

The company, which has developed a farming system based on flow-through technology that capitalises on the natural advantage of its access to oxygen-rich Gulf Stream seawater, has also secured commitment for a kr700 million (US$64.8 million) bank loan to expand Kvalnes's operations.

Giving a capital markets update on 13 June, Andfjord Salmon chief executive officer Martin Rasmussen said the company's strategy has always been to use its first pool to prove the company's patented technology and the biological performance before progressing with the next stage of construction.

Rasmussen said in March 2023 the first production cycle has been successful and the company "couldn't have had a better start," with good fish health and welfare, strong growth, low energy consumption of 1kwh per kilogramme salmon produced and a survival rate of 97.8%, together with an accumulated feed-conversion ratio (FCR) of 0.96.

- SeafoodSource