Photo: Andfjord Salmon
Andfjord Salmon is about to start its second-ever smolt release during September, the company has announced, reporting the results for the second quarter and first half of 2025.
The aquaculture firm, which is developing its land-based flow-through fish farming facility at Kvalnes, Andøya, in Nordland county, Norway, plans to release 350,000 smolt into one of its pools in late September and a further 750,000 into a second pool in late October.
"Our team of fish farming experts are thoroughly looking forward to once again focusing on fish health, welfare and optimizing pool and grow-out conditions for the salmon," said Martin Rasmussen, CEO of Andfjord Salmon, via a press release. "We believe that we have an even better fish farming concept now than we had two years ago, and we look forward to demonstrating it."
The company reports that its expansion at Kvalnes continues to make progress, with key infrastructure such as waterways, tunnels and the harbour area for reception of wellboats now complete. Andfjord announced in July that the inlet tunnel for the facility is now connected to the sea, and in its latest update, the company states that pool K0 is currently being filled with seawater in preparation for the release.
During the quarter, Andfjord Salmon announced a revised build-out plan that would see it increase production capacity at the Kvalnes site by 20%. The company reports it raised about NOK 1.55 billion during the period, including a private placement of shares, a bond issue, and a sale-leaseback deal for the harbour property.
With construction still ongoing, the company reported close to zero revenue for Q2 2025 and a net loss of NOK 26.8 million, compared to a NOK 18.8 million loss in the same quarter last year.
Once fully developed, the facility has the potential to produce up to 48,000 tonnes of salmon annually, though the current licence allows for 23,700 tonnes, the company said.
