AKVA group has partnered with Icelandic salmon farmer Laxey (formerly Icelandic Land Farmed Salmon) for the installation of a RAS smolt facility in Vestmannaeyjar, Iceland, the company announced. This installation enables Laxey to have a ready supply of smolt for their upcoming grow-out phase. Laxey recently secured EUR 42 million in financing.
Laxey is steadfastly moving forward with its expansion plans, which include the completion of a smolt RAS by AKVA group set to begin operations by the end of 2023 and a state-of-the-art grow-out facility slated for production commencement in 2024. By 2031, Laxey aims to achieve a production target of 27,000 metric tons HOG of farmed Atlantic salmon. The initial operational phase is on track to commence by mid-2024, with the first sales expected to materialize by late 2025.
Establishing Iceland's pioneering RAS smolt facility
The story began with the signing of a contract between AKVA group and Icelandic Land Farmed Salmon (now Laxey) in 2022. This contract set in motion the installation of a groundbreaking smolt RAS facility in Vestmannaeyjar, marking a milestone as the first of its kind in Iceland—a true RAS facility. This is one of the most advanced hatcheries in the world for salmon smolt.
“We are currently approaching the midpoint of our collaboration with AKVA group, and the process has been incredibly smooth. It all began with an initial design phase where AKVA group collaborated closely with our team to model and design every aspect. Subsequently, we progressed to on-site installations. The partnership has proven to be an excellent fit. AKVA group has a lot of know-how and experience building these installations, and our own construction team has been doing a great job keeping the schedule,” said Hallgrímur Halli Steinsson, CTO of Laxey.
Lárus Sigurður Ásgeirsson, chairman of the board of Laxey, said that “this is an exciting project because it makes us self-sufficient in smolt supply for our coming land-based grow-out project, thereby giving us full control of our own value chain.”