Growth outlook underpinned my megatrends – population growth, increased fish consumption and trade globalisation – driving demands for animal protein and fresh food
Limited supply growth from sea-based farming expected to create continued supply/demand imbalance, which land-based framing can equalise
Laminar water flow re-creates the salmon’s natural habitat on land
No problems with salmon lice, algae or escapes
Strong fish welfare and health in first pool
Industry-leading survival rate
Excellent biology and strong growth
Organic waste utilized as a profitable resource
Located at the salmon’s natural habitat, Andøya
Access to fresh seawater from the Gulf Stream year-round
Stable water temperature gives reduced farming time, which in turns allows for higher utilisation of production capacity and reduces costs
No need to lift, heat, cool or manipulate the seawater
1 kWh electricity required to produce 1 kilo salmon
Strong feed conversion rate for first pool
Targeting opex of NOK 40 per kilo salmon produced (including depreciation)
License secured for 10,000 tonnes MAB, equivalent to target production volume of 19,000 tonnes
Financing secured to develop production up to 8,000 tonnes and major infrastructure such as waterways and port area to support 40,000 tonnes of production at Kvalnes
Future expansions (from 8,000 tonnes and upwards) expected to be financed by a combination of debt and cash flow
Targeting a blended capex of NOK 114 per kg (including substantial buffers)
Two other locations, Breivik and Fiskenes, represent additional potential production capacity estimated to 50,000 tonnes combined.
Roadmap in place towards achieving a total capacity of 90,000 tonnes HOG
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Andfjord Salmon is a Norwegian company established in 2014. The company is listed at Oslo Stock Exchange (ANDF), and located at Kvalnes on the northernmost island of Andøya in Vesteraalen, Norway.