220,000 tonne goal revealed in financial presentation.
Hot of the news that land-based salmon farmers Atlantic Sapphire raised USD 90 million in just 29 minutes in stock sale the company have now revealed a huge boost in production.
The majority of the net proceeds from the Private Placement will be used to advance the build-out of the next phase of the company’s US-based facility in Miami.
In its presentation sent in a statement to the Oslo stock yesterday the salmon farmer wrote that it’s long term annual harvest volume plan at its Miami site has increased to 220,000 tonnes – from 90,000 tonnes.
@atlsapphire has today raised $90m in a placement towards new and existing shareholders. High quality investors from several countries participated. We thank @DNBMarkets and @arcticsec for excellent management, and our shareholders for continuous support. Blue Is The New Green!
— Johan Andreassen (@andreassenjohan) May 7, 2019
Short term, by 2022, it expects to accelerate from 10,000 tonnes in 2022 to 23,000 tonnes.
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In 2017, the US market was consuming about 400,000 tonnes of salmon a year. Chile – the country’s main current provider – exported 156.3 thousand tonnes of fish in 2018.
