Gigante Salmon reports progress in Q4 ahead of first harvest in Q2 2025.
Gigante Salmon AS has released its Q4 2024 report, highlighting substantial progress at its land-based aquaculture site in Lille Indre Rosøy, Northern Norway. The company remains on track for its first harvest in Q2 2025, with full production capacity targeted for 2026 and an annual output of 16,000 tonnes HOG expected by 2028.
CEO Kjell Lorentsen noted significant milestones during the quarter, despite challenges from adverse weather conditions. “It has been a year since we started test production, and the fish is growing well, with average weight approaching 3 kilograms,” Lorentsen said.
He described 2025 as a “pivotal year” as the company transitions from construction to full-scale production.
Key Developments in Q4 2024:
- The first release of smolt has reached an average weight of 2,700 grams, aligning with the planned Q2 2025 harvest.
- Shore power infrastructure was connected via a submarine cable.
- Completion of seawater intakes and drainage channels.
However, prolonged adverse weather delayed the installation of surface cladding, pushing the completion of production pool 2 to Q1 2025 and production pool 1 to summer 2025. Despite these delays, the company confirmed that costs remain within established financing parameters.
Gigante Salmon’s production facility comprises three basins, with one currently operational. The location benefits from optimal sea temperatures and proximity to Norway’s aquaculture cluster, offering logistical and technical advantages.
The company anticipates harvesting approximately 550 tonnes HOG in Q2 2025, with an additional 2.2 million smolt to be released in Q3.
