The Norwegian Food Safety Authority has granted approval for Vevelstad Settefisk to begin large-scale production of juvenile salmon at a new land-based hatchery in Lauknes, located in the municipality of Vevelstad, Norway.
With an estimated investment of over NOK 1 billion (USD 98 million), the facility is set to become a major contributor to the region’s aquaculture industry. Vevelstad Settefisk plans to produce between 15 and 20 million salmon smolts annually, with fish ranging in size from 150 grams to one kilogram.
“We’ve been waiting for this green light. Now we’ll build a state-of-the-art hatchery right in the heart of Nordland,” said Knut Bråthen, CEO of Vevelstad Settefisk. “There’s a shortage of hatchery fish, and we know demand in our area will only continue to grow.”
Construction is expected to begin soon on the 100-acre site, which has already been zoned and approved for aquaculture use. Once operational, the hatchery is projected to create 20 to 30 new jobs in the small municipality of Vevelstad, home to just under 500 residents.
“Our investment will strengthen Vevelstad’s role as a forward-thinking player in aquaculture, bring tangible job opportunities, and provide a significant economic boost to the region,” Bråthen added.
Vevelstad Settefisk is owned by an aquaculture consultancy and commercialization company, Aquaculture Innovation, which in turn is owned by maritime business investment agency, Torghatten Aqua.
