Finnforel Gigafactory in Varkaus.
© Finnforel
Finnish land-based rainbow trout aquaculture company Finnforel has announced a significant investment from Mitsubishi Corporation (MC) to drive the expansion of its sustainable fish farming operations worldwide.
The partnership aims to support Finnforel in scaling up globally through its "Gigafactory" concept, an integrated facility model that combines farming, processing, and packaging on one site, which the company says increases efficiency, reduces waste, and enhances food security.
The investment will help Finnforel accelerate its use of Recirculating Aquaculture Systems (RAS) to farm rainbow trout. According to the company, Finnforel’s Gigafactory is designed to streamline production by incorporating the entire supply chain under one roof, which Finnforel says will results in reduced transportation times, and fresher fish products for consumers. The concept "also supports local food systems and reduces the carbon footprint associated with long-distance transport," Finnforel claims.
Founded in 2015, Finnforel currently produces approximately 3,000 tons of fish annually using vertically integrated RAS facilities in Varkaus, Finland. The company’s ambition is "to multiply its capacity through global expansion by 2032", now aided by Mitsubishi’s global reach and expertise.
Finnforel sells rainbow trout in over one thousand Finnish grocery shops under the Saimaan Tuore brand.
"I believe that in future Recirculating Aquaculture Systems (RAS) will play a crucial role in enhancing food security by enabling efficient, sustainable, and reliable production of fish where excess nutrition and waste will not end up in the seas," said Pekka A. Viljakainen, Co-Founder and CEO of Finnforel, in a press release.
"That is why we developed our Finnforel Gigafactory with 0% waste policy, to be implemented there were the consumers are. We are very proud to have Mitsubishi, with global distribution channels, talent and resources, to support Finnforel’s journey.”
“We are pleased to join Finnforel’s journey through this investment. We deeply empathize with Finnforel’s vision to develop sustainable protein supply through their gigafactory concept, in which they handle feed manufacturing, farming, processing and product branding integrally. Mitsubishi Corporation will continue to strengthen our farming business and contribute to sustainable supply of food resources and addressing societal needs," added Akihiko Soga, COO of Mitsubishi’s Marine Products Division.