December 1, 2020


Nutreco invests in Nordic Aqua Partners to build China's first large scale RAS facility




Nutreco has announced on November 26 that it has fully completed its further investment in Nordic Aqua Partners (NAP).


Nordic Aqua Partners recently announced that it has successfully completed a private placement of new shares with gross proceeds of approximately €55.1 million (US$66 million). The organisation will build China's first fully integrated and commercially viable recirculating aquaculture system (RAS) facility. This partnership demonstrates Nutreco's commitment to its goal of "Feeding the Future" with science-based innovations that advance sustainability across the value chain.


The facility, which will be built in Ningbo, Zhejiang province, will raise Atlantic salmon in all production stages from the hatching of imported eggs to harvesting, processing and distributing fully-grown fish for local consumption.


Norwegian equipment supplier AKVA Group will supply the RAS technology used in the production facility. The total production capability of the facility will be around 8,000 tonnes of Atlantic salmon by 2026, with plans to grow further as new markets and customer segments are developed.


Nutreco CEO Rob Koremans said: "As a global population, we have reached or exceeded sustainable limits of fishing of many species for human consumption and other uses. Aquaculture in RAS provides an additional sustainable and safe way to increase the amount of fish available. For Nutreco, supporting RAS directly supports our mission of "Feeding the Future" in a way that is better for the planet.


"I'm delighted that we'll be working together with NAP in China. From the facility in Ningbo, we will be able to bring fresh, high-quality Atlantic salmon to millions of Chinese consumers within hours of harvest, reducing the shipping impact on the environment."


Nutreco chief innovation officer Viggo Halseth said: "The collaboration will allow Nutreco to further integrate farming and feed solutions towards optimal fish performance and will help further develop this highly sustainable form of aquaculture. It will also help us expand our learning about RAS and continue Skretting's development of the best feed tailored for RAS systems."


NAP chairman Ragnar Joensen said: "On behalf of the team at NAP, we are thrilled to partner with Nutreco. Over the last year, we have worked hard to develop the project to be investment ready and with the support from Nutreco and other co-investors, we have completed detailed engineering and are soon ready to start construction."


Construction of the facility in Ningbo is expected to start at the beginning of 2021.


- Nutreco