Atlantic Sapphire is a land based salmon farmer, which has spent several years to fine tune its land based farming technology at their Denmark facility and developed the Bluehouse farming technology. In 2017, the company secured both land and water resources in Miami, US, and this facility was finalized in the beginning of 2021. First harvesting took place in the end of 2020, and the company are now harvesting regularly. Atlantic Sapphire fully controls production from eggs to consumer ready products. The product has been recognized as an environmentally friendly Atlantic Salmon brand and are selling at a significant premium in the US market.
The Bluehouse mimic the natural environment conditions such as flow, temperature and oxygen. By having the entire salmon production under one roof, the company significantly reduce the length of the value chain for salmon production, which should be able to cut some cost. On the other hand, the technology applied in the Bluehouse is dependent on more energy than conventional farming which is a cost driver.
Atlantic Sapphire’s facility in Denmark has produced ~1k tonnes in 2019/2020. The facility in Miami has a permit for an annual production of up to ~90k tonnes, but the company have secured land area for a production of more than 200k tonnes. We expect 9k tonnes in 2022. Construction of phase 2 started during 2021, with first harvesting likely in 2024. In total, volumes from phase 1+2 in US will reach 25k tonnes. The company has a goal of producing more than 50k tonnes by 2025.
Represented by: CFO Karl Øystein Øyehaug (Speaker), Johan Andreassen
Agenda (CEST): 1100-1120
Agenda parallel session: Track 2, part 1
Physical/Digital: Physical
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