Salmon Evolution reports lower Q2 harvest as Phase 2 start-up progresses

Norwegian land-based aquaculture firm Salmon Evolution harvested 945 tonnes HOG in the second quarter of 2026, as the company reported improved biological performance in Phase 1 and progress with the start-up of Phase 2 at its hybrid flow-through Indre Harøy facility.

The volume was lower than the record 1,765 tonnes harvested in the first quarter, when the company said output was in line with guidance but salmon prices had come in below management’s expectations.

In an operational update issued today, Salmon Evolution said Phase 2 has developed according to plan since operations began in late April. The company has completed two smolt releases in the new phase and said preparations for a third release are well underway.

This follows a financing package announced in April, when Salmon Evolution raised NOK 411.3m through a private placement and retail offering of new shares. The company said at the time that the proceeds, together with an increase in long-term debt facilities, would help repay short-term debt and provide additional financial buffers for completion of the Phase 2 expansion.

Salmon Evolution said biomass growth improved in Phase 1 during the second quarter, although it added that the full effect of recently-introduced feed changes and optimised operating protocols has yet to be seen.

According to the company, the main prerequisites are now in place for a significant improvement in biomass growth in coming periods. It expects that to contribute to higher harvest volumes and weights during the second half of 2026.

The company also said Phase 2 had made a strong start, with design upgrades working as planned and leading to "clear improvements" in water quality.

Salmon Evolution has previously said it planned to release around 2.8m smolt at Indre Harøy during 2026, about 60% more than in 2025.