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Jacob Bregnballe in AKVA group and Hallgrímur Steinsson in Laxey signing the contract at the AKVA Day Iceland held in Reykjavik.

AKVA : Announces contract with Laxey for land-based aquaculture in Iceland

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Sunday, April 14, 2024, 20:00 (GMT + 9)

AKVA group announce new contract with Laxey, advancing land-based aquaculture technology in the Westman Islands, Iceland. The agreement will focus on the implementation of Re-use technology across the first of six Grow-out modules planned for the site.

Each module is designed to produce 4,500 tons of salmon annually, culminating in a total output of 27,000 tons upon completion of all modules.

"We have had excellent cooperation with AKVA group on the development of our Smolt RAS facility that is now up and running. We see this contract for the Grow-out project to be a continuation of our relationship for years to come. We are happy to keep the experience of AKVA group on board," says CTO of Laxey, Hallgrímur Steinsson.

The comprehensive delivery from AKVA group includes design and installation of advanced oxygenation and degassing systems, SCADA and electrical systems, as well as project management and advisory services across the entire project. The project is scheduled to commence in 2024.

"I am sure that the good relationship created during the execution of the Smolt RAS project will benefit this much larger Grow-out part. We have a lot of experience from previous Re-use projects that will surely contribute positively. We really look forward to continuing working with Laxey; we team up really well," says Jacob Bregnballe, Sales Director at AKVA group Land Based.

In September 2023, AKVA group and Laxey initiated a project to install a Recirculating Aquaculture System (RAS) for smolt in Vestmannaeyjar, Iceland. This marks the first true RAS smolt facility in the country, supported by Laxey's EUR 42 million financing. The facility is a key component of Laxey's expansion into sustainable salmon farming, aiming to start production in 2024. By 2031, Laxey's goal is to reach an annual production of 27,000 metric tons of Atlantic Salmon, a significant increase from Iceland's current production. This project signifies a shift towards land-based salmon farming in Iceland, focusing on sustainability and environmental preservation.

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