Nordic Aqua Partners – Operational Update

Oslo, 10 May 2024: Nordic Aqua, a global pioneer in land-based salmon farming, with its first farm located in China, is pleased to announce that as of Friday 10 May, the company has reached a total harvest volume of 92 tonnes with an average of 6.1 kg live weight at its facility in Gaotang, China.

The volume for the first few weeks after the first harvest is in line with the initial production announced in the stock exchange release dated April 19.

So far, the quality of harvest is first-class, and 99 percent of the harvest volume is classified as superior quality salmon.

• This quality gives Nordic Aqua an excellent starting point for building a premium position for Nordic PureAtlantic in the Chinese market and our key focus is to

build a premium position in an attractive market, says CEO Ragnar Joensen

Supported by the first weeks of harvest Nordic Aqua’s objective has been to achieve a wide distribution, to expose our new brand to as many consumer and salmon buyers as possible. To achieve such market reach, Nordic Aqua works in partnership with a limited group of professional and experience seafood distributors.

The feedback from customers, as well as from “tasting boards”, involving top sashimi chefs, the feedback as it comes to color, texture, fat and condition factor, support our premium position objective.  

We are also working closely with Skretting our strategic partner on feed supply and the Nordic Pure Atlantic salmon scores good on all important quality parameters.

It is vital to get such feedback as Nordic Aqua is the first domestically produced land-based farmed Atlantic Salmon in China. 

We are continuously getting first-class salmon into the market, and the sales organization is now well underway in building customer relationships and market positions from which Nordic Aqua can grow its premium position, says Mr Andreas Thorud, the head of Nordic Aqua's operational activities in China.

We are doing a wide range of marketing and launch activities, where our products are presented to consumers, retail and HORECA buyers as well as chefs.

Product exposure and market penetration are given priorities over pricing for the first weeks of harvest.

Nordic Aqua will present figures for the first quarter on Thursday 16 May. CEO Ragnar Joensen, MD Nordic Aqua (Ningbo) Andreas Thorud, and CFO Tom Johan Austrheim will present the results and go into more detail on production, biology, and market development on a webcast the same day at 10:00 a.m. CEST. See separate invitation on Newsweb for details.

A full review of the price and market picture for the first operational quarter will be presented in the second quarter presentation which will take place on Thursday August 22 as well as on the announced Capital Markets Day to be held at Gaotang China September 3.

For further information please contact: 

CEO Ragnar Joensen    
ragnar@nordicaquapartners.com    
Mobile +298 599 112 

Nordic Aqua is a Nordic land-based Atlantic salmon farming company, using cutting-edge Nordic technology and expertise to set up the first fully integrated and commercially scaled Recirculating Aquaculture System (RAS) farm for Atlantic salmon located in Ningbo, China. Nordic Aqua is the first local producer of truly sustainable and Super-fresh Atlantic salmon to the Chinese market. The current business plan is for an annual production of 20,000 tons HOG. Nordic Aqua Partners AS is listed at Euronext Growth under the ticker NOAP.