Aker BioMarine is implementing measures that will enable the company to deliver own volumes of krill oil produced on board the company’s modern factory trawlers, as early as in 2009 (see World Fishing News 18 December 2006).
Aker BioMarine will acquire the modern factory trawler “Atlantic Navigator” and convert it for krill harvesting in Antarctic waters.
“This measure enables Aker BioMarine to begin commercial production of its own krill oil more quickly than previously projected. Investments will be less than half the cost of a new krill vessel, and the risk is lower,” says Aker BioMarine’s President and CEO Helge Midttun.
By going into commercial production with the “Atlantic Navigator”, Aker BioMarine gains valuable know-how with its unique on-board production systems before a decision is made concerning the building of a new Antarctic-waters krill vessel to replace “Saga Sea”.
Plans are for the Atlantic Navigator to be operational and begin krill harvesting and processing in 2009. Thus, Aker BioMarine will achieve production of approximately 500 metric tons of own-produced krill oil one year ahead of the schedule established as part of the successful NOK 1.2 billion share issue in December 2006.
Total investments will be on the order of NOK 500 million. This amount includes the costs of rebuilding the Atlantic Navigator and installing a modern extraction factory. Surimi production in Faeroe Islands fisheries, operated through Aker BioMarine’s partially owned company p/f Næraberg on the Faroe Islands, will thus be terminated. That company will be continued; optimal use of its licenses will be determined in the coming months.
“These measures enhance Aker BioMarine’s financial clout in building a marine biotechnology company, specializing in deliveries of high-value marine ingredients through an optimized value chain, from harvesting to customers,” says Mr. Midttun.
