Artec Aqua will build 18,900 tonne fish farming facility in Iceland

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Norwegian RAS tech supplier Artec Aqua has signed an agreement with Iceland’s Geo Salmo to design and build a land-based salmon farming facility in Iceland.

The facility will be located in Þorlákshöfn, near Reykjavik. The production capacity for the entire facility is 18,900 tonnes of gutted fish. The development will take place in several phases.

As a turnkey supplier, Artec Aqua will be responsible for the design, engineering, construction and completion of the entire facility. The total contract value is between NOK 1.5 (€155.1 million) and 1.8 billion (€186.2 billion) for the development of the plant’s first phase.

“We did a sketch project during the spring and are very pleased to continue the collaboration with the competent team at Geo Salmo. This is a very exciting project that combines our hybrid technology with the advantages of staying in Iceland, where seawater will be supplied via boreholes and filtered naturally through lava rock. Being chosen as a total supplier is a confirmation of Artec Aqua’s track record from land-based aquaculture facilities, our technology and the unique expertise that our team possesses,” Ingegjerd Eidsvik, CEO of Artec Aqua, said in a press release.

Ingegjerd Eidsvik. Photo: Tone Molnes

Artec Aqua, which is a wholly owned subsidiary of Oslo Børs-listed Endúr, will immediately initiate concept design and engineering work. Construction is scheduled to start in the third quarter of 2023.

The technology to be used in the facility is the Artec Aqua Hybrid System, where up to 70 percent of the water is recycled. The temperature profile of the water that comes from wells at the plant in Þorlákshöfn fits very well with Artec Aqua’s self-developed hybrid system.

“We are very happy to be able to collaborate with Artec Aqua on our project. They share the same values ​​as us and have shown that they are industry leaders in land-based aquaculture and have demonstrated a unique ability to exceed expectations in their projects. The combination of Artec Aqua’s strong level of knowledge and proven technology was decisive for our choice of total supplier. The partnership will ensure that we achieve our goal of producing salmon of the highest quality and in line with the highest sustainability standards,” Jens Þórðarson, CEO of Geo Salmo, said.

Iceland’s production of farmed fish has increased significantly in recent years. In total, a record 45,458 tons of salmon were produced in 2021, an increase of 35 percent compared to 2020, according to Iceland’s national statistical institute, Statistics Iceland.

“Iceland has a rapidly growing farming industry, with experience from land-based farming. By proving our competence and technology on Geo Salmo’s project, we hope to be able to open the door to more opportunities in Iceland. Therefore, it is also important for us to choose the project that we believe has a team that can succeed with the biology and operation of the plant. We think Geo Salmo has that,” Ingegjerd Eidsvik added.


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