NOK 1 billion hatchery gets green light from Norwegian authorities

Norwegian smolt producer Vevelstad Settefisk has announced it has received formal go-ahead from the Norwegian Food Safety Authority Mattilsynet to begin large-scale production of juvenile salmon at Lauknes in Vevelstad municipality in northern Norway.

"We've been waiting for this go-ahead. We will now build a ground-breaking hatchery in the heart of Nordland," said Knut Bråthen, CEO of Vevelstad Settefisk.

The planned smolt RAS facility, which will be built on a 100-acre site already zoned and approved for aquaculture, represents an investment of over NOK 1 billion when fully developed, and is expected to create between 20 and 30 jobs, the company said.

The hatchery will be capable of raising between 15 and 20 million salmon smolts annually on land, with fish ranging in size from 150 grams to one kilo.

The approval from Mattilsynet follows the earlier confirmation of a discharge licence by the state administrator in Nordland. With these two key authorisations in place, the project is now awaiting the formal operating licence from Nordland County Council, the company said.

"There is a shortage of hatchery fish, and we also know that demand will increase in the future in our catchment area. The hatchery fish that will be produced at Lauknes will be attractive to many," Bråthen said.

"Almost 500 people live in Vevelstad municipality and the establishment will mean a lot. Our investment will strengthen Vevelstad's position as an innovative player in the aquaculture industry, create specific jobs and give the entire region an economic boost," Bråthen added.

Established in December 2021, Vevelstad Settefisk is located in Vevelstad municipality in Nordland county, and operates as a subsidiary of Aquaculture Innovation, which is in turn owned by marine investment and development firm Torghatten Aqua.