Skretting named as feed supplier for flow-through project

Grow out tanks under construction at the LAXEY flow-through site, Iceland

Aquafeed business Skretting has committed to supply feed to the Icelandic land-based fish farmer LAXEY.

LAXEY, known until last September as Icelandic Land Farmed Salmon, is building a hybrid flow-through salmon farm on the south coast of Iceland.

The company has just successfully completed a EUR €40m (£34.5m) capital raising exercise, with Skretting’s parent, Nutreco, as one of the new investors.

LAXEY’s project is located on Vestmannaeyjar, also referred to as the Westman Islands. Founded in 2019, the company said it is building on the legacy of the local fishing industry while tapping onto the natural advantages of land-based aquaculture in Iceland.

LAXEY’s main owners, the Oskarsson family, have 75 years of fishing heritage behind them. They had started their first round of fundraising last autumn, hoping to attract international investors in order to reach its production goal of 4,500 metric tonnes of salmon in 2025. They have set their sights on 27,000 metric tonnes by 2030.

Hallgrímur Steinsson, CTO of LAXEY

Iceland is the fastest growing market in the salmon industry. Skretting holds a strong position in Iceland and is also a global leader in feed to closed aquaculture systems (CAS) farms. With this investment in place, Skretting said it has committed to supplying LAXEY with feed through the whole build-up phase of the project.

“In Skretting we believe in close and long term collaboration with fish farmers in order to release the full potential from nutrition, feeding and efficient logistics,” said Håvard Walde, General Manager of Skretting Norway. “We are very proud to partner with LAXEY. This partnership puts us in a good position to prepare for our next steps in Iceland.”

Therese Log Bergjord, CEO of Skretting, commented: “LAXEY has great prospects, and we are honoured to be a part of their journey. With this investment, Skretting is also committed to supporting and further developing the Icelandic aquaculture industry.”

Hallgrímur Steinsson CTO of LAXEY said: “We are excited to join forces with Skretting, a leader in the field of salmon nutrition. High quality feed will result in a high-quality product, and we are looking forward to a long term co-operation. This partnership signifies a significant milestone in our journey towards producing premium-quality salmon here in Vestmannaeyjar.”

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