Q2 2022 Operational update – continued strong biological performance with batch #1 average fish weight now at 1.5 kg

Salmon Evolution ASA ("Salmon Evolution" or the "Company", OSE: SALME) is pleased to announce that the strong biological performance reported in the Q1 2022 presentation has continued for the remainder of the second quarter.

As per 30 June 2022 the batch #1 average fish weight is estimated to around 1.5 kg with observed individuals well above 2 kg. Feeding and growth numbers have continued to significantly exceed expectations, reflecting good water quality and strong fish health and fish welfare. Further, the Company has continued to see low mortality levels.

Over the last weeks the Company has also taken out samples for extensive quality testing. The test results have been very positive, confirming good fish health and filet quality, firm meat texture, nice and consistent red meat colour and excellent salmon taste. Additionally, no issues with early maturation have been observed.

The Company is in the process of preparing for the batch #2 smolt release which is now expected to take place in July. Batch #2 smolt volumes will be significantly upsized compared to the initial plan as it will also include the volumes originally intended for release in August. This will further optimize the production plan and provide more operating flexibility along with the upcoming completion of the remaining grow out tanks.

Going forward the Company intends to publish a similar operational update as soon as possible after the end of each quarter, thereby increasing the reporting frequency.

Please see the attached presentation for further details on biological performance, biomass and overall status.

The Company is also pleased to share the following video showing the latest developments: https://vimeo.com/726423823

For further information, contact:

Håkon A. Berg
CEO, Salmon Evolution
+47 411 92 257

Trond Håkon Schaug-Pettersen
CFO, Salmon Evolution
+47 911 91 327

About Salmon Evolution

Salmon Evolution is a Norwegian land-based salmon farming company targeting a production capacity of 100,000 tonnes HOG by 2032. The Company’s core focus is on extending the ocean’s potential by transferring the best preconditions offered by the sea to farm fish on land through its chosen hybrid flow-through system technology (HFS). This secures a truly sustainable production process with controlled and optimal growth conditions and limiting operational and biological risk. 

The Company’s first production facility is strategically located at Indre Harøy on the Norwegian west coast with unlimited access to fresh seawater, renewable energy, established infrastructure, and an educated and experienced work force. Phase 1 is already in operation and will have an annual capacity of 7,900 tonnes HOG at steady state. Fully developed, the Indre Harøy facility will have an annual capacity of 31,500 tonnes HOG.

The Company has also entered into a joint venture with Dongwon Industries where the parties will develop, construct and operate a land-based salmon farming facility in South Korea with an annual production capacity of 16,800 tonnes HOG, using Salmon Evolution’s chosen HFS technology.

Furthermore, the Salmon Evolution has initiated a process with the aim of establishing a land-based salmon farming operation in North America.

Salmon Evolution ASA is listed on Oslo Børs under the ticker SALME.

To learn more, please visit www.salmonevolution.no