Proximar Seafood, a Norwegian land-based salmon farming company operating in Japan, today announced its third-quarter results for 2024.
The company successfully achieved its first harvest, selling its Fuji Atlantic Salmon at around NOK 130 (€11.11) per kilogram, significantly above the import price for Norwegian salmon.
“Proximar is the first producer of Atlantic salmon in Japan, years ahead of the competition,” said Joachim Nielsen, chief executive of Proximar Seafood.
“We are now finally able to supply the Japanese population with domestically produced Atlantic salmon.”
The company has reported continued progress in its operations, including a substantial increase in biomass, which reached 733 tonnes by the end of Q3, compared to 360 tonnes at the end of Q2.
Proximar is actively ramping up its production, with nine batches transferred to its grow-out building by the end of the quarter. Additionally, the completion of the final two grow-out modules is on track for later this year.
The company is addressing water turbidity issues in its facility, which had impacted feeding and growth rates. Installation of an ozone system has significantly reduced turbidity, improving conditions in the grow-out modules. As a result, the company expects to resume normal feeding and growth rates in the coming months.
Proximar also successfully raised capital through a convertible bond offering and loans, securing necessary funding for ongoing expansion. Despite minor delays, the company remains confident in reaching its target production capacity of 5,300 tonnes by 2027.
