Proximar Seafood reports biomass growth and positive market feedback in Q4 2024.
Land-based salmon farmer Proximar Seafood has announced its sixth production update, reporting a standing biomass of 1,058 metric tonnes at the end of Q4 2024, up from 735 metric tonnes in Q3.
The Oyama-based facility in Japan, operational since October 2022, is targeting a long-term harvest level of 5,300 tonnes (HOG) annually by 2027.
Proximar currently has 20 batches and approximately 2 million fish in production. During Q4, the company harvested 28 tonnes (HOG) of Atlantic salmon, achieving an average net selling price of NOK 123 per kilogram. The fish, marketed as Fuji Atlantic Salmon, received positive feedback from the Japanese market for quality and taste, with 99.9% graded as superior.
“We are very pleased with the fantastic start of sales and the reception in the market. The price achievement and feedback confirm the positive perception of Fuji Atlantic Salmon,” said CEO Joachim Nielsen.
Operational Challenges and Resolutions
The Q4 harvest volume deviated by approximately 50 tonnes from earlier guidance due to delays caused by two biofilter incidents in November. These incidents, attributed to construction and material weaknesses, led to reduced feeding to maintain water quality, impacting growth rates. However, the company reported no abnormal mortalities.
The implementation of an ozone system addressed turbidity issues, and feeding has since returned to normal levels, according to the company. Proximar is taking measures to repair damages and conduct a facility-wide review to prevent future occurrences.
“Our team has resolved these challenges effectively without any mortality, which is impressive. We remain optimistic about biological performance and water quality going forward,” Nielsen added.
Outlook and Next Steps
Proximar expects further updates on its 2025 harvest forecast in the upcoming Q4 2024 report, scheduled for release on February 28, 2025. Despite operational disruptions, the company remains on track to achieve its long-term production goals while capitalizing on its strategic location near Mount Fuji to reduce costs and carbon footprint.
Proximar Seafood is a Norwegian land-based salmon farming company operating near Mount Fuji, Japan. The facility uses high-quality groundwater to produce fresh Atlantic salmon for the Japanese market, minimizing transportation costs and environmental impact. Proximar began production in October 2022 and completed its first harvest in September 2024.
