Salmon Evolution eyes expansion in North America
Land-based fish farmer Salmon Evolution is looking at potential sites in North America for the company’s next stage of expansion. The group aims to reach an annual production capacity of 100,000 tonnes by 2032.
CEO Håkon André Berg said: “Although starting in Norway, Salmon Evolution has always had global ambitions. With the addition of North America into our portfolio, we will have an operating platform on all the three major salmon consuming continents.
Over the coming 12 months we expect to demonstrate the operational viability of our concept, solidifying Salmon Evolution’s global leadership position within the land-based salmon farming industry. Given the long lead times for this industry, we see it as critical for our long-term value creation to build and develop a tangible pipeline of high-quality projects.”
Salmon Evolution is currently evaluating identified potential production sites in North America. The company said expects to use the remainder of 2022 for such site selection and initial site verifications.
The company statement goes on: “It is expected that the pre-construction phase including regulatory approval processes will take two to three years, allowing for construction start during 2025, upon which the plan is to build a full scale 31,500 tonnes HOG [head on gutted weight]’Indre Harøy’ facility, drawing on the experiences learned in both Norway and Korea.”
Salmon Evolution released the first smolts into its farm at Indre Harøy, Norway, earlier this year and is working through a joint venture with Dongwon Industries to build a similar facility in South Korea.
Phase 1 is already in operation and will have an annual capacity of 7,900 tonnes HOG at steady state. Fully developed, the Indre Harøy facility will have an annual capacity of 31,500 tonnes HOG.
The Korean site is being built for an annual production capacity of 16,800 tonnes HOG.
Unlike many other land-based salmon farmers, Salmon Evolution employs “hybrid flow-through” technology rather than a RAS [recirculating aquaculture system] approach. If this is replicated in its North American plans, this implies the company will be looking for a coastal site in a region where the sea temperature is not too warm for a flow through system.
The company said it is in the process of setting up a wholly-owned US corporate structure, but also suggested that the North American project could involve a local partner along the lines of its joint venture with Dongwon.