Staff at LAXEY's aquaculture facility in Vestmannaeyjar, Iceland.
Photo: LAXEY
Icelandic land-based aquaculture company LAXEY has carried out its first harvest at its salmon grow-out facility in Vestmannaeyjar, the company has announced.
"The milestone marks the completion of the full production cycle, with salmon now having progressed from egg to finished product within the company’s integrated system," the company stated in a press release, detailing the process from receipt of first salmon eggs in November 2023, to the first harvest 23 months later.
LAXEY reports that the fish reached weights of between 4 and 5 kg and said the results confirmed the biological and operational performance of the system under commercial conditions. It also said that the fish showed “strong biological indicators, consistent conformation, and attractive fillet colour”, adding that these results supported confidence in long-term product quality and production stability.
The firm also stated that the outcome was consistent with the timeline it originally presented to investors three years ago.
“This is an important step in our development. The project has advanced steadily on schedule, and we now transition toward steady-state production, powered by strong team effort,” said Kristmann Kristmannsson, LAXEY’s Head of Processing and Procurement.
The harvest was also used to test the company’s new processing facility, which, according to the company, also performed in line with its expectations.
The aquaculture firm said it will now expand harvest volumes and begin regular exports of fresh salmon to international markets. It added that operations would continue to be developed in collaboration with the local community in Vestmannaeyjar.
Laxey expects to harvest about 5,000 tonnes of salmon next year as production increases.
In July, the company secured an additional €28 million in equity financing, with three of Iceland’s largest pension funds joining as shareholders, together accounting for 20% ownership. At the time, LAXEY said a proportion of this new capital would fund the construction of a new large smolt facility in nearby Viðlagafjara.