Great Northern Salmon formalises sales, technology and financing partnerships.
Great Northern Salmon (GNS) has announced a series of commercial, technical and financing agreements as it advances plans for its land-based salmon project in Millinocket, Maine.
In 2026, the company finalised a six-year binding sales agreement with Stavis Seafoods covering upcoming production. The relationship began two years ago under a letter of intent and has now been converted into a long-term offtake agreement. Pricing will be benchmarked against import costs into Boston, which the company said positions it competitively against imported fresh salmon.
On the technology side, GNS has signed an agreement with AKVA Group as its technology partner. Following an evaluation process, AKVA was selected to support design and delivery. AKVA completed initial design work for GNS in 2025 and has previously delivered international land-based and RAS projects, including Nordic Aqua Partners in China.
GNS has also engaged Morgan Stanley for capital-raising and advisory services under a contract signed at the end of 2025. The bank will work alongside existing financial partners, including Pareto Securities and IFG Asset Management.
In engineering and construction, GNS has formalised its relationship with PC Construction under a construction management contract and appointed SMRT Architects and Engineers as architect and engineering partner. Both firms have prior experience in aquaculture and water treatment projects, according to the company.
The development has also received support from public bodies, including the Environmental Protection Agency, Eastern Maine Development Corporation, Maine Department of Economic and Community Development, Maine Technology Institute, Finance Authority of Maine and Northern Border Regional Commission. The company said it was awarded $2 million in additional development funding from the Maine Technology Institute this month.
Chief executive Marianne Naess said the partnerships are intended to support alignment and execution as the company progresses its Maine project.