Construction milestones and first harvest bolster Gigante Salmon’s growth trajectory.
Gigante Salmon has initiated its first harvest from a trial production cycle at its land-based aquaculture facility in Rødøy, northern Norway, marking a milestone in its plans to scale up to 16,000 tonnes of annual output by 2028.
The company, which published its first-quarter results on Monday, reported a standing biomass of 1,070 tonnes at the end of the period. Approximately 550 tonnes of head-on gutted (HOG) salmon is expected to be harvested from the initial cycle.
The facility, which comprises three production basins, is nearing completion. Two basins have now been structurally finalised, with production basin B having completed testing and basin C in the final stages of construction. All marine and diving operations are reported as complete.
“This is a significant milestone,” said chief executive Kjell Lorentsen. “More gratifying still is the fact that we have now delivered the first salmon grown in our facility.”
The site is designed to operate on a flow-through system, combining land-based farming principles with the environmental advantages of seawater flow, and is located in an area with stable temperatures and existing aquaculture infrastructure.
The company said it remains on track to release 2.2 million smolt in the third quarter of 2025. It also confirmed it had achieved GlobalG.A.P. certification during the quarter.
Construction timelines have been affected by weather-related delays, which the company said had resulted in cost increases. To manage liquidity risk during the final phase of construction, a shareholder loan facility of up to NOK 50 million ($4.8 million / €4.3 million) has been agreed with majority owner Gigante Havbruk AS. The loan is to be issued on terms in line with the company’s existing financing.