Salmon Evolution ASA: Q2 2023 Operational update

Since the Q1 2023 reporting in May, Salmon Evolution ASA ("Salmon Evolution" or the "Company", OSE: SALME) has been experiencing strong biological performance at Indre Harøy with good appetite and normal mortality levels across all fish groups.

As per 30 June 2023 the Company had around 1,047 tonnes (LW) of standing biomass, up 31% since 21 May 2023. Batch 6 and 7 were also stocked during the quarter and are expected to add further biomass growth momentum over the coming months.

The Company expects to initiate next harvest late in Q3 2023 and further to reach steady state production volumes of 7,900 tonnes HOG p.a. during Q4 2023.

“We are very pleased with the strong biological performance seen over the last month and to be back in production modus. During the second quarter we have gained invaluable operational know-how and look forward to continuing our production ramp-up and preparing for the next harvest,” CEO of Salmon Evolution, Trond Håkon Schaug-Pettersen said.

Please see attached presentation for further details.

For further information, contact:

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

Trond Vadset Veibust
CFO, Salmon Evolution                                
+47 480 90 595

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, 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