Biofish completes growth plan
Specialist post smolt producer Biofish says its capacity expansion plan has now been completed.
It follows an equity issue which raised NOK 74.5m (£5.6m) during the early part of this year.
The Bergen, Norway-based company said in a Stock Exchange announcement that it was delighted to have achieved a vital phase in its production plan.
The main items installed and in use are:
- a new RAS (recirculating aquaculture system) facility
- a new seawater outlet pipe
- a novel automatic water surveillance system
- a new grading system and
- a tank-based video surveillance system.
Biofish added: “This announcement is an important leap in Biofish’s plan to utilise the aquaculture licence gradually, fully for production of up to five million smolt and the discharge license up to 2,200 tons.
“The new facilities are already in use with various sized fish in the tanks from September and October 2023.
“This is to build up biomass for future planned deliveries. The cost of the above works is broadly as stated during the new equity raising process in the first quarter. The remaining proceeds are used to strengthen the working capital, general maintenance purposes and building biomass.”
BioFish was established in 2016 and describes itself as a land-based producer of high quality smolt destined for salmon farms along the Norwegian coast. The company’s production takes place in Ljones outside Bergen, using a RAS process which recycles at least 99% of the water used.
Last month the company appointed Sondre Hagerup Johnsrud as its new CEO, replacing Torbjørn Skulstad, who had decided to step down.