Akvafuture makes a profit out of closed cage salmon production for first time

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Akvafuture’s bottom line was EUR 1.2 million in 2018.

Akvafuture, a subsidiary of AkvaDesign, is engaged in the aquaculture of environmental salmon which are sold and marketed under the trademarks Miljølaks and Megasmolt, according to the annual report of the company.

Akvafuture has 30 of 31 employees in the AkvaDesign Group.

Zero lice and escapes
At year-end, the company had three R&D licenses for large-scale production and testing. The operation takes place at the sites in Sæterosen in Brønnøy municipality, and Andalsvågen and Hamnsundet in Vevelstad municipality, both in Nordland, Northern Norway.

According to Akvafuture, operations last year have consisted in building up facilities, establishing operations and building up biomass, and sales of fish in R&D context.

Production in 2018 took place without any lice or fish escapes.

Looks beyond the borders
The AkvaDesign Group had a turnover of EUR 11.9 million in 2018, and an operating profit of EUR 3.2 million. In April last year, the company was granted two development licenses for its closed-cage technology project.

AkvaDesign has also, through its subsidiary Akvafuture ehf, applied for farming of salmon with the company’s technology in Iceland. Here, a new legislation is awaited for the design of further strategy and commitment.

In addition, AkvaDesign through its subsidiary Akvafuture AB has examined possibilities for farming in Sweden.

“Research is being conducted that will provide further answers to this opportunity, and which is important for any investment in other countries,” wrote AkvaDesign.

SalmonBusiness is still waiting for a response from AkvaDesign.