Facilitating increased post-smolt production in Norway
8F Asset Management, in partnership with Pure Salmon Technology, announces it's collaboration with Ecofisk AS to develop a new 7,000-tonne post-smolt facility in Espevik, Rogaland in Norway.
The project is set on Ecofisk land, a
289.000-square-meter site secured in 2019, with permits for an annual
production of 40.000 tonnes. This includes cultivating up to 20 million
post-smolts, each weighing up to 1,000 grams. This facility is poised to become
Norway’s largest smolt facility, setting new benchmarks
in the industry.
“This initiative is crucial for accelerating the development of post-smolt capacity in Norway,” says Stephane Farouze, Chairman at 8F Asset Management. “By combining our financial expertise with Pure Salmon Technology’s development capabilities, we are creating a model that enhances production efficiency and sustainability. This facility will support the increasing demand for larger smolts and improve fish welfare by reducing the sea phase and associated treatments.”
Sustainability, innovation, and ecosystem benefits
Pure Salmon Technology will design the facility, while 8F Asset Management provides essential financial structuring. Together, they will offer the facility through an innovative business model that includes a flexible leasing option or shared ownership. This approach allows established fish farmers to benefit from top-tier facilities and economies of scale without significant initial investments.
Michael Mortensen, Chief Business Development Officer at Pure Salmon Technology, commented: “We have observed an increasing demand for larger post-smolt, up to 1 kg. By enlarging the smolts before release, we can shorten the sea phase, which leads to better utilization of concessions. We will not operate the facility but will serve as project developers. This enhances our role as a strong partner in the Norwegian aquaculture industry.”
Significant Benefits for the industry
The project also brings strong benefits across the aquaculture ecosystem:
- For open net pen farmers: The facility will produce post-smolt that, result in a shorter production cycle at sea thereby optimizing MTB licenses.
- Fish welfare: By producing large post-smolt, the time they spend in sea is reduced, decreasing their exposure to sea lice. This enhances both survival rates and overall fish welfare in the project.
- For offshore farmers: The facility can contribute towards securing additional post-smolt capacity required to supply the upcoming offshore farming industry which is expected to be developed in the nearby future.
Lars Erik Baustad, Chairman at Ecofisk, finally added: “We are thrilled to be onboarding Pure Salmon Technology and 8F Asset Management to our Ecofisk project at Espevik, Rogaland. Our new partners add capacities such as cutting-edge RAS technology, strong project execution track-record and financial muscles, thus combined represents a perfect strategic fit to Ecofisk unique concession, prime location and business plan.”
Innovative Design and Technology for the Future
The new facility will be designed and constructed by Pure Salmon Technology. First phase will have the capacity to produce up to 7,000 tons of post-smolt annually, each weighing up to 1 kg. Construction is set to commence immediately, with the first fish anticipated by 2027/28.
Combining Pure Salmon Technology’s advanced facility designs, including the latest Njord technology and HyFlow feeding systems, with 8F’s project financing capabilities, this project is poised to significantly enhance Norwegian smolt production.
