The Norwegian land-based salmon farmer reported negative EBITDA for the quarter but expects production volumes to more than double over the next 12 months.
The Hananui project could produce 14,400 tonnes of king salmon annually and create up to 480 jobs once fully operational, according to the New Zealand government.
The project, titled Fish Feed on Blue Prescription and funded by the Norwegian Seafood Research Fund, was carried out in collaboration with BioMar and the Norwegian University of Life Sciences.
The U.S. company's integrated aquaponics system enables it to raise Atlantic salmon in a fully controlled environment, free from antibiotics and pesticides.
