Salmon Evolution reports progress in tackling AGD

The land based fish farmer Salmon Evolution has said it is now getting on top of its biological problems.

Last month the company reported increased mortality at its new Indre Harøy farm in Norway due to amoebic gill disease (AGD).

It said in its first quarter report to the Oslo Stock Exchange today it had taken “swift and appropriate actions to remedy the situation”.This included reducing temperatures and feeding, increased UV dosage on intake water, fast tracking harvest of batch two in a historically strong market and completed freshwater treatment of all remaining fish groups.

The problem now appears to be under control. The report said: “The freshwater treatment appears to have had a good effect, and the situation is now stabilising with daily mortality back to normal levels post freshwater treatment.

“The company has also recommenced feeding across the farm and is closely monitoring the situation.

“Furthermore, the Company has implemented a number of actions to minimize the risk of such event happening in the future.”

Salmon Evolution adds: “This includes inter alia on-site freshwater production capabilities to be installed over the next couple of weeks, reducing response time to a minimum going forward and also enabling precautionary freshwater treatments, for example in connection with fish transfers.”

The Q1 highlights include:

• Continued production ramp up at Indre Harøy. Batch 5 stocked in February and all-time high biomass production in March.

• Focus on international expansion plans, both in South Korea and North America.

• Indre Harøy phase 2 preparations ongoing – clear signs of normalisation in the construction market

• Signed agreement with DNB and Nordea for a new green debt financing package totaling NOK 1,550 million (£115m) relating to phase 1 and 2 at Indre Harøy.

• Available liquidity of NOK 454 million (£34m) as per March 31st including committed undrawn credit facilities.

Salmon Evolution recently completed its first harvest at Indre Harøy and it is also involved in a joint venture with Dongwon Industries for a 16,800 tonnes (HOG) production facility in South Korea.

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