AKVA group has been awarded a contract by Laxey for the design and delivery of a new smolt facility in the Vestmannaeyjar, extending an existing partnership between the two companies.
The project, referred to as Smolt Station II, will be developed in three phases and is expected to provide annual production capacity of up to 15 million smolt at 100 grams when fully completed, supporting Laxey’s post-smolt and grow-out operations.
AKVA said the contract covers all three phases and has a total value of approximately €28 million.
The first phase is designed for annual production of 5 million smolt across three recirculating aquaculture systems (RAS). Subsequent phases are expected to lift capacity first to 10 million and then 15 million fish per year.
The new station will be based on the same RAS design used in Laxey’s first smolt facility, which the companies said is now fully operational and has delivered five batches to date in line with production plans.
The two companies first signed an agreement in June 2022 for Laxey’s initial smolt station. Their cooperation has since expanded into grow-out sections of the Iceland land-based salmon project.
Execution of the new contract remains subject to Laxey securing the necessary financing. AKVA said this condition is expected to be met during the second quarter of 2026.
Construction is expected to begin this summer, subject to financing, with operations targeted for the fourth quarter of 2027.
AKVA group ASA supplies technology and services to land-based and sea-based aquaculture operators.
