AKVA commits to new RAS farm in Maryland – Fish Farmer Magazine


A US $ 150 million contract for the construction of a large land-based salmon farm on the east coast of the United States was signed yesterday.

The agreement is between aquaculture technology company AKVA Group ASA, which will build the facility, and AquaCon AS, a company made up of people with extensive knowledge of the salmon industry, with a focus on onshore farms. and RAS technology.

The AquaCon project is constructing the first phase of a 16,000 tonne project on Eastern Shore, Maryland. However, it has land options and water discharge permits to produce up to 50,000 tonnes and the potential to double that figure.

He says, “Our team and partners also have a solid track record of selling salmon, including to the US market, and experience building and managing over 70 RAS facilities, including smolts, smolts, smolts, smolts, smolts, and more. post-smolts and commercial grow-outs. “

US company RAUCH Inc. will provide all civil engineering / site engineering, surveying, architectural, structural, MEP and construction period design services. Whiting Turner, also based in the United States, will be responsible for the management of the construction.

The AKVA group has a global reach with a presence in several salmon farming countries including Scotland, Chile, Australia and Norway.

It is the latest in a series of large-scale investments in land-based salmon farms by Norwegian interests on the east coast of the United States.

Meanwhile, publicly traded Israeli investment firm Israel Corp. has just acquired a 15% stake in the Akva group, giving it access to around NOK 300 million (£ 25 million) in new funds. Israel Corp will also provide a US $ 5 million convertible loan for the Maryland project and serve on AKVA’s board of directors.

In addition, the AKVA group and Israel Corp. agreed to establish an investment platform for investments in land-based fish farms around the world, based on AKVA group technology. The goal is to invite more investors to this platform.

AKVA Group CEO Knut Nesse said he was very happy to welcome Israel Corp. as a long-term and strategically important owner of the AKVA group.

Egersund Group AS will still hold the majority stake in AKVA.

AquaCon Board Members (left to right) Christian Selmer, Marit Solberg and Henrik Tangen (Executive Chairman)

About Mark A. Tomlin

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