The targeted long-term harvest level for Proximar is 5,300 tonnes (HOG) per year in Phase one.
Proximar Seafood, a Norwegian land-based salmon farming company, has reported its results for the second quarter and first half of 2024.
The company, which operates its first production facility at the foot of Mount Fuji in Japan, highlighted continued growth in fish stock, stable biological conditions, and the establishment of its first sales agreement ahead of its initial harvest scheduled for September.
During Q2 2024, Proximar achieved a total biomass of 360 metric tonnes, a significant increase from 112 metric tonnes at the end of Q1. The company also saw increased operational activity in its post-smolt grow-out building, with six batches transferred into the operating modules by the end of the quarter.
Proximar is leading the market said CEO Joachim Nielsen: “Proximar is the first producer of Atlantic salmon in Japan, years ahead of the competition. We have proven great production capabilities and fish growth, also now commercially validated through the first sales agreement. We are ready to start harvesting in about a month from now.”
The company is targeting an annual production of 5,300 tonnes (HOG) in Phase 1, with expected harvest volumes of 4,700 tonnes (HOG) combined for 2024 and 2025. The company plans to gradually ramp up production towards full utilization by 2027.
Reduced feeding
Proximar company has encountered some issues with water turbidity, affecting the color and clarity of the water. While this has not directly impacted fish health or performance, Proximar has temporarily reduced feeding during the summer as a precautionary measure. To address the turbidity issues, the company is currently installing an ozone treatment system, which is expected to provide a long-term solution.
Proximar also announced plans to complete the final two modules in its grow-out building by Q4 2024, with an additional CAPEX of NOK 30 million anticipated. This will be financed through the sale of convertible bonds held by the company.
