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In April, the Icelandic land-based salmon farmer announced the transfer of its first batch of salmon to grow-out tanks.

The land-based salmon farming company is developing its facility in the traditional seafood community of Vestmannaeyjar, Iceland.

This major milestone marks the completion of the first phase of the land-based salmon farmer's six-phase development plan.

Completion and delivery are subject to the land-based salmon farmer in Iceland obtaining the necessary financing.

Fish processing technology specialist Baader will supply processing equipment for Laxey's facility in Vestmannaeyjar, Iceland.

The financing agreement is intended to support its land-based salmon farm in Vestmannaeyjar.