Salmon Evolution expands its farming operations into North America

Salmon Evolution expands its farming operations into North America

Salmon Evolution has initiated a process to expand its farming operations into North America. At the same time, it will raise its production capacity target to 100,000 tonnes of HOG by 2032. The construction should start in 2025.

Thereby, the company confirmed in a press release that the pre-construction phase including regulatory approval processes will take 2-3 years. Upon which the plan is to build a full-scale 31,500 tonnes HOG Indre Harøy facility. It will inherit the experiences learned in both Norway and Korea.

Firstly, Salmon Evolution is currently evaluating identified potential production sites in North America. The aim is to use the remainder of 2022 for such site selection and initial site verifications. Secondly, it will establish a dedicated team of both in-house and external resources. Finally, the company will establish a US corporate structure under its full ownership.

Regarding this, CEO Håkon André Berg said: "Although starting in Norway, Salmon Evolution has always had global ambitions. With the addition of North America into our portfolio, we will have an operating platform on all the three major salmon consuming continents."

"Over the coming 12 months we expect to demonstrate the operational viability of our concept, solidifying Salmon Evolution's global leadership position within the land-based salmon farming industry," he added.

Furthermore, the company looks for partnership structures taking advantage of the company's human capital and maximizing shareholder value.

In late March, Salmon Evolution culminated its first smolt batch released at Indre Harøy.

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