Salmon Evolution, the Norwegian land-based salmon producer, has released its operational update for the third quarter of 2023, reporting "strong biological performance" at its Indre Harøy facility in western Norway.
Detailing the Q3 operational results, the company said it had achieved an "all-time high" standing biomass of around 2,100 tonnes (LW) on 30 September 2023 – more than doubling its biomass since 30 June this year, with an increase of 101%. The results also showed good growth and normal mortality levels across all fish groups, the company said.
Salmon Evolution's total net biomass production for Q3 was 1,290 metric tonnes LW. The company said it had steadily increased biomass throughout the quarter, and harvested 185 tonnes HOG, having delayed some of its planned volumes until Q4 in order to "optimize harvest weights and price realization."
"We are very pleased with the continued strong biological performance. During the third quarter we saw both all-time high biomass production and standing biomass," said Salmon Evolution CEO, Trond Håkon Schaug-Pettersen.
"Coupled with production costs trending in the right direction on back of higher production, and a historically strong salmon market, we very much look forward to the fourth quarter and our significant ramp-up in harvest volumes," he added.
Salmon Evolution stocked its eighth batch of fish during Q3, and plans to stock two additional batches during Q4, prediciting steady-state production volumes of 7,900 tonnes HOG by the end of the year.
Salmon Evolution is a Norwegian land-based salmon farming company targeting a production capacity of 100,000 tonnes HOG by 2032, utilizing hybrid flow-through system technology (HFS). The Company's first production facility is located at Indre Harøy on the Norwegian west coast. 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. Salmon Evolution has also entered into a joint venture with Dongwon Industries where the parties will develop, construct and operate a land-based salmon farming facility in South Korea with an annual production capacity of 16,800 tonnes HOG. The company has also initiated a process aiming to establish a land-based salmon farming operation in North America. Salmon Evolution ASA is listed on Oslo Børs under the ticker SALME.
