May 29, 2022

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Alf-Helge Aarskog invests in Samherji’s plan to build land-based salmon farm in Iceland


Akureyri, Iceland-dependent Samherji has announced a USD 26 million (EUR 25.1 million) share cash financial investment into a land-centered salmon farm task in Iceland, with previous Mowi CEO Alf-Helge Aarskog named as a new shareholder.

The funds will be used to make a pilot challenge in Öxarfjördur, Iceland, and style and build a 40,000-metric-ton salmon farm in the Source Park up coming to the Reykjanes Energy Plant in the Reykjanes Peninsula. The challenge was 1st announced in June 2021, with HS Orka named as the developer of the job.

At the time, Samherji explained the new farm will be formulated in a few phases in excess of the subsequent 11 years, and will consist of a hatchery, an on-developing farm, a processing home, and services buildings. In a 12 May update on the job, Samherji believed the full expenditure needed to finish the task at close to USD 340 million (EUR 328 million).

Samherji is one of the greatest vertically integrated seafood corporations in Iceland, with a fleet of fishing vessels, processing factories, and fish farms, with a specialty in Arctic char. The corporation exports beneath the “Ice Contemporary Seafood” manufacturer. The new land-primarily based undertaking will be operate by Samherji Fish Farming, Samherji’s aquaculture division.

Building has currently begun on the pilot job, which Samherji CEO Thorsteinn Már Baldvinsson reported will double manufacturing ability at the current facility in Öxarfjördur from 1,500 metric tons (MT) of Atlantic salmon each year to 3,000 MT. The organization expects to stock juveniles on-internet site at the close of 2022.

In regard to the comprehensive-scale farm,work on the environmental assessment and setting up application is underway, but the style will be tweaked as the firm carries on to obtain experience and proficiency operating the pilot venture, Baldvinsson stated. He stated perform on the challenge will progress thanks to an by now-authorized USD 56.5 million (EUR 54 million) share capital maximize.

“Following the share capital maximize, a new board will be elected in Samherji Fish Farming at the company’s once-a-year general assembly. Norwegian Alf-Helge Aarskog, previous CEO of Mowi and a person of the world’s most skilled gurus in the industry of aquaculture, has invested in Samherji Fish Farming and will be part of the firm’s board of administrators,” Baldvinsson stated. “Alf-Helge Aarskog’s investment and board participation is not only a gain for Samherji Fish Farming, but also Icelandic business as a whole. His board membership is, of course, a wonderful vote of self confidence for Samherji’s team. Also, the enlargement that has started at Samherji Fish Farming marks a specified milestone, as this is the greatest financial investment project that Samherji and affiliated corporations have embarked on in Samherji’s 39-calendar year historical past.”

Aarskog issued a vote of self confidence in Samherji’s dedication to the land-centered venture.

“The competence of the persons in Samherji close to fish and land-primarily based farming is a great basis. The truth that Samherji has manufactured Atlantic salmon and Arctic char on land for a very long period of time of time, tends to make this the very first land-primarily based job I have seemed at that I seriously can believe in,” he claimed. “ The place has plentiful methods of h2o and power and I search forward to participating in the development and advancement in advance.”

In 2020, the bulk shareholders of Samherji transferred their shares to their little ones in the largest inheritance transfer in Icelandic historical past, truly worth between ISK 60 billion and ISK 70 billion (USD 446 million and USD 520 million, EUR 430 million and EUR 502 million).

“We are absolutely fully commited to collaborating in Samherji’s ongoing functions. The firm has a bright future and has developed and prospered inspite of different issues. Now we have a new technology signing up for us. We have the option to further evolve our price-extra processing, offer function and position safety and fortify the crucial values ​​of sustainability and accountable use of sources that have been Samherji’s system from the beginning,” Baldvinsson mentioned at the time.

Image courtesy of Samherji



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