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Norwegian Land-based Fish Farmer Bue Salmon has Harvested its First 514 Tonnes of Table-sized Fish

Norwegian land-based fish farmer Bue Salmon has concluded another quarter with strong results, including the completion of its first harvest. In May and June, the company has sold 514 tons of Bue Salmon at an average price of NOK 99.2 per kilo, achieving an impressive superior rate of 95%.

Highlights of the quarter include a positive preliminary statement from the county governor, fostering optimism for the Lutelandet concession. Bue Salmon is also finalizing a strategic process and have entered into a partnership with DNB for further financing. 

Shaped by the current, Bue Salmon is a naturally fresher, firmer salmon.

“We are very pleased with the company’s recent development. Our first Buelaks has been sold and distributed, and the facility is almost ready for new stocking in August. This quarter has confirmed that we have made sound judgments,” says Knut Eikeland, CEO of Bue, and continues: “We have every reason to be optimistic about the company’s future development.” 

Harvested at its peak, Bue Salnon sets an unrivalled standard of tasteful nutrition. A delicate, healthy taste of distinctive origin.

 Quarterly Results

• 514 tons of Bue Salmon sold at an average price of NOK 99.2 per kilo, resulting in a total revenue of approximately NOK 51 million.
• Bue Salmon exported to over 50 countries and more than 120 customers. Partnerships with Bravo Seafood and Seaborn contributed to this success.
• Extremely good biological results with a mortality rate of only 2.1% and a high superior rate of 95%.
• Strong and positive cash flow from operations at Bulandet, with satisfactory liquidity. Investments in development are increasing moving forward.
• Bue has secured cooperation with DNB for the company’s further development. We are working on developing the sites at Bulandet and Lutelandet.

Bue Salmon approach is responsible and based on knowledge and experience. Starting with a pilot facility, the company will implement improvements for further growth, the  system consists of modules that allow to scale-up easily.

About Bue Salmon

Bue Salmon is an aquaculture company with a strong focus on land-based salmon farming facilities. Established in 2015, the company today has 15 employees spread across its headquarters in Florø and branch offices in Leirvik in Hyllestad, Bergen, and Bømlo. 

The company produces salmon at its pilot facility in Bulandet, Askvoll. The pilot facility has a capacity of 1,400 tons of post-smolt and farmed fish, with a license to produce a total of 5,500 tons in Bulandet. Bue is now scaling up the site at Bulandet and plans to build a significantly larger land-based farming facility at Lutelandet. With this expansion, Bue aims to become a leading company in land-based aquaculture, with an eventual annual production of around 50,000-60,000 tons.

Source: Bue Salmon

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