Successful first harvest of Atlantic Salmon in China

Nordic Aqua, is pleased to announce the successful completion of its first harvest of Atlantic salmon, produced at its facility in Gaotang, China.

The first harvest is a major operational milestone for Nordic Aqua and the company is now set to introduce its Atlantic salmon under the Nordic PureAtlantic brand to the growing Chinese market.

“Our first harvest confirms the high-quality of our farmed Atlantic salmon, achieving an average weight of approximately 5.7 kilograms LW, with mortality rates of below 2 per cent, no signs of maturation issues and a superior rate of 99%. These excellent biological results underscore Nordic Aqua’s capability to maintaining superior fish health and welfare standards, which translates into premium product quality for the highly attractive Chinese consumer market”, comments CEO (Chief Executive Officer) Ragnar Joensen.

Harvest during the first three weeks will amount to 10,20 and 30 tons respectively, before gradually increasing to stabilizing in the 70-80 ton per week range.

Stage 1 is the first step in an overall plan towards 20,000 tons. Construction for an additional 4,000-ton Stage 2 capacity was initiated in the third quarter 2023, and the preparations for the Stage 3 expansion to 20,000 tons are well underway.

The expansion plan is supported by a strong demand for high-quality, sustainably farmed Atlantic salmon in the Chinese market.

“Nordic Aqua’s strategic positioning within the local market significantly reduces logistics costs and enhances freshness, providing a strong competitive edge”, mr. Andreas Thorud, Nordic Aqua’s managing director for Nordic Aqua points out.

“The market dynamics are favorable, with the Chinese salmon market showing robust growth and high-price resilience. As the first land-based operation of its scale in China, Nordic Aqua Partner enjoys the first-mover advantage in a market with over 100 million potential consumers reachable within a five hour distribution radius”, he adds.

Mr. Thorud has a 17-year professional working career in China, and he has brought in high expertise and a deep understanding of the Chinese business landscape and the salmon market to Nordic Aqua.

A successful harvest marks a transition from the project phase to full operational status, setting the stage for continuous production and supply. As Nordic Aqua prepares to enter the most attractive seafood markets globally, this development is expected to attract considerable interest from a broad range of stakeholders focusing on sustainable and technologically advanced aquaculture projects.

Nordic Aqua will host a Capital Markets Day for investors, analysts and other stakeholders on 3 September 2024 in Ningbo, China.