Inlet waterway successfully completed

4 July 2025

Andfjord Salmon Group AS (Andfjord Salmon) is pleased to announce the successful completion of the inlet waterway at its land-based salmon farming facility at Kvalnes, Andøya, thereby establishing the artery that will provide fresh Arctic seawater to all pools at the facility.

“The breakthrough from the inlet waterway to Andfjorden was conducted safely and in line with our build-out schedule at Kvalnes. We are pleased to tick the box for completion of another major piece of infrastructure that will facilitate large-scale production of salmon at Kvalnes,” says Martin Rasmussen, CEO of Andfjord Salmon.

The entry point of the one-kilometre-long inlet tunnel is located at approximately 50 metres water depth – below the zone where salmon lice and harmful algae typically reside. The waterway will provide the fish farming pools at Kvalnes with continuous access to clean, oxygen-rich seawater. In combination with Andfjord Salmon’s proprietary flow-through system, the inlet waterway is a key component in recreating a natural and healthy salmon farming habitat on land.

The completed inlet waterway has been designed to support a future production of approximately 48,100 tonnes (HOG + post-smolt) at Kvalnes.

HARBOUR RE-OPENED

In the current build-out phase, Andfjord Salmon is also developing a new harbour area and constructing four pools at the Kvalnes site. Both workstreams are on schedule.

The temporary breakwater section, which was initially constructed to shield ongoing work in the harbour, has now been removed – thereby re-opening the harbour and enabling it to start receiving vessels.

All UHPC (ultra-high performance concrete) wall elements have been installed in pool K1. In addition, the two buildings that will house control systems for sludge treatment and feeding systems, respectively, have also been erected.

Andfjord Salmon reiterates its plan to initiate smolt release in September 2025.

CONTACTS

Investors:

Bjarne Martinsen, CFO, Andfjord Salmon AS, +47 975 08 345, bjarne.martinsen@andfjord.no

Media:

Martin Rasmussen, CEO, Andfjord Salmon AS, +47 975 08 665, martin@andfjord.no

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord Salmon is developing the world's most sustainable and fish-friendly aquaculture facility of its kind. Through a proprietary flow-through system, Andfjord Salmon combines the best from ocean and land-based salmon farming. In its first production cycle, the company achieved an industry-leading survival rate of 97.5 percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and required 1 kWh to produce one kilo of salmon.