Norway Royal Salmon (NRS) has been granted NOK 400 million in green financing from Danske Bank
In the first quarter of 2019, the Group's credit limit increased from NOK 1 400 million to NOK 2 000 million. It is NOK 400 million of this credit limit that is now converted to a green loan. It is gratifying to see that our commitment to sustainable production is valued by the bank and provides more favorable loan terms.
Norway Royal Salmon believes that sustainable production of salmon is very important for our long-term financial value creation. We will supply high-quality nutritious salmon with the help of safe and committed employees while ensuring minimal environmental impact. Norway Royal Salmon is working to put in place the strictest environmental certificates within our industry, the Aquaculture Stewardship Council (ASC) standard. ASC-certified fish are produced in a responsible and sustainable manner within very strict requirements. Norway Royal Salmon is already certified on 60 % of the sites in Region North and aims to be 100 % certified on active sites by the year 2022.
Norway Royal Salmon is constantly focused on forward-looking solutions. As a result of this, Norway Royal Salmon was granted 8 development permits in 2018 for the development of Arctic Offshore Farming. The Arctic Offshore farming facility is designed for areas with harsh weather condition where the farming equipment of today cannot be used, thus having the potential to solve the industry's area challenges. In addition, the project can contribute positively to the environmental challenges of sea lice because the cage can be submerged below the assumed "lice belt" in the sea. This can reduce number of sea lice on the fish. The ambition is to combine knowledge from the aquaculture industry with offshore expertise to develop the aquaculture industry of the future and secure sustainable growth for the Norwegian aquaculture industry.
The green loan will help finance the two major investment projects in progress, Arctic Offshore Farming and a new smolt facility.
For more information, please contact:
CFO Ola Loe, +47 911 79 411.
Norway Royal Salmon in brief
Norway Royal Salmon (NRS) group owns 39 426 tonnes MAB distributed between 34 746 tonnes MAB in Region North located in West Finnmark and Troms and 4 680 tonnes MAB in Region South in the area around Haugesund. In addition, the group has minority interest in three associated Norwegian fish farming companies which together own ten fish farming licenses, as well as Arctic Fish on Iceland that has licenses for 11 000 tonnes. NRS is an attractively positioned fish farming group, which offers salmon to the market through its own sales organisation. For further details, please visit www.norwayroyalsalmon.com