Skretting partners with Icelandic salmon farmer LAXEY

Skretting and LAXEY have signed a partnership through which the first will feed to the hybrid flow-through salmon project developed by the Icelandic salmon producer and located on Vestmannaeyjar, also known as the Westman Islands.

In addition, LAXEY has announced today the successful completion of a €40 million equity private placement. In September 2023, the Icelandic company started its first round of fundraising and celebrated the successful completion of its first funding round, raising a total of €42 million.

Among the investors are Skretting's parent company, Nutreco, Seaborn, Kjartan Ólafsson, and a Dutch industrial seafood company. Additionally, the funding round was led by Blue Future Holding, which is a part of German family-owned conglomerate EW Group.

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

On the other hand, Hallgrímur Steinsson CTO of LAXEY, expressed: “We are excited to join forces with Skretting, a leader in the field of salmon nutrition. This partnership signifies a significant milestone in our journey towards producing premium-quality salmon here in Vestmannaeyjar.”

About LAXEY

LAXEY is a hybrid flow-through salmon project located on Vestmannaeyjar founded in 2019. LAXEY’s main owners, the Oskarsson family, have 75 years of fishing heritage behind them. Its project has a production goal of 4,500 metric tonnes of salmon in 2025 and has set its sights on 27,000 metric tonnes by 2030.

Last week, the AKVA group signed a contract with LAXEY to develop a Recirculating Aquaculture System (RAS) facility in its Vestmannaeyjar project. The Group will design and install advanced oxygenation and degassing systems, SCADA, and electrical systems.