Norcod allowed to establish a new production facility in Norway

Norcod allowed to establish a new production facility in Norway

With total maximum biomass (MAB) of 3,600mt

Norcod can now establish a new production location in Nesna municipality with a total maximum allowed biomass (MAB) of 3,600 metric tonnes. The facility will start production in the first half of 2023 and will have state-of-the-art aquaculture technology.

Through a press release, Norcod CEO Christian Riber congratulated the good welcome of Nesna municipality. "We consider the site at Labukta to be perfectly suited for cod farming. Along with good water depth, water temperature, and current conditions. I am confident our fish will thrive here," he added.

Further, he confirmed: "Setting up a new location is always an exciting process. Especially given our motivation to provide a healthy source of protein to an eager market. We have a highly-skilled production team with many years of combined experience. So, I anticipate this will be a smooth and efficient process."

Moreover, the mayor of Nesna Municipality, Hanne Davidsen, said: "The arrival of Norcod is extremely important for Nesna. As mayor, I am delighted it has been given the go-ahead to begin cod farming in our community."

On the other hand, Riber also indicated Norcod's intention to "support employment opportunities and ensure sustainable operations with minimal impact to the environment".

Finally, the company confirmed it has now a total of five cod-farming sites along the Norwegian coast encompassing 19 licenses with a MAB of 13,920mt in total. Recently, Norcod finalized its first full production cycle. It will begin harvesting its second cycle in the third quarter of this year. It is also in the process of putting its third cycle of cod into the sea phase this summer.

WeAreAquaculture informed in May, Norcod was preparing to uplist from the Euronext Growth market to the Oslo Stock Exchange.

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