The construction will begin in the third quarter of 2025.
NorSea
Swedish aquatech WA3RM and the biotechnology specialist BIO3 have partnered to build a large-scale animal feed production facility at NorSea's eco-industrial park in Averøy, Norway.
Thanks to this initiative, Norwegian-based BIO3 will transform by-products from the agricultural and forestry industries into nutritious and versatile fungi-based proteins in large volumes.
Additionally, WA3RM will manage the financing through green bonds and long-term loans with the help of financial partners.
"Last year, the Norwegian government set a goal that by 2034 all feeds for farmed fish and livestock must come from sustainable sources. Meeting this target requires a significant expansion of production based on novel feed ingredients. Our joint production facility with WA3RM and NorSea will demonstrate how it can be done", assured Sigmund Røeggen, CEO of BIO3 AS.
Moreover, Jacques Ejlerskov, CEO of WA3RM AB, said: "Adding protein production to our platform of food systems is yet another proof of the global potential for using by-products from industrial production as an enabler for a brighter future."
NorSea Group, owned by the Norwegian business group Wilhelmsen, has partnered with WA3RM to leverage its facilities and develop projects that convert waste streams into new resources.
The BIO3 production facility, which is set to begin construction in the third quarter of 2025, is one of the projects that both companies have agreed to work hard to bring to fruition.
"The possibilities and not least the scalability of this project will provide great opportunities with circular value chains that we have not seen in our widespread infrastructure so far," stated Frode Aass, Senior Vice President, of NorSea Group.
