Why invest

Favourable outlook for the salmon farming industry

  • 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

Operating the world's most fish friendly and sustainable salmon farm

  • 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

Location with unique access to pristine, fresh seawater

  • 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

Low opex

  • 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)

Plan in place to reach 40,000 tonnes HOG at Kvalnes

  • 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)

Expansion potential to 90,000 tonnes HOG

  • 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

Join Our Newsletter

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 Vesterålen, Norway.