Salmon Evolution ASA says that construction on its ambitious phase 2 expansion project is well underway, positioning the company for first smolt release in Q1 2026.
This phase is set to elevate Salmon Evolution’s total production capacity to 18,000 tonnes HOG, a significant boost that will support the growing demand for Norwegian farmed salmon and the company’s long-term growth goals.
“With phase 2 on track, we are on course to reach critical scale and establish an operational strength few in the industry can match,” said CEO Trond Håkon Schaug-Pettersen.
“The progress at Indre Harøy puts us in a powerful position to meet the industry’s future demands while further strengthening Norwegian salmon farming.”
Strong quarter
Phase 2 follows a strong Q3 for Salmon Evolution, which included a record-high standing biomass and stable biological KPIs.
Although the company adjusted some harvest volumes to Q4 for price realisation, it maintains a 5,000-tonne harvest target for 2024.
Salmon Evolution also generated revenues of 51.3 million NOK, with a Farming EBITDA of 2.2 million NOK and robust financial reserves of 866 million NOK to support the expansion.
As the Indre Harøy facility scales up, Salmon Evolution plans to increase its production capacity by 40% in 2025, making sure it’s well-positioned for future growth in Norwegian farming.
