Norway Royal Salmon ASA (NRS): Arctic Offshore Farming granted development licenses

3/9/2018, 9:34 PM (Source: GlobeNewswire)

The Directorate of Fisheries has today granted 7.68 development licenses (5,990 tonnes MAB) for the development of Arctic Offshore Farming. The licenses are a recognition of a long and good development process in which NRS, Aker ASA and Aker Solutions have developed a semi-submersible offshore fish farm designed for harsh areas. The facility will provide significantly increased area utilization of Norwegian sea waters when positioned farther away from the coast, where in addition it will have a small environmental footprint.

An extensive effort has been put in place to develop this concept. At the same time, there has been an open, positive and constructive dialogue with the Directorate of Fisheries to adjust the concept within a framework that were acceptable to the parties.

The original concept should have been established in the open sea and required 4 units and 15 licenses. In the revised concept it is proposed to use a site at the mouth of a fjord with 2 units and 7.68 associated development licenses. Because the project has been scaled down to about half of the original project size and the capital requirements have been significantly reduced, Aker has chosen not to move further into the pilot and realization phase. Aker Solutions will continue as a technology and collaboration partner in the project.

The facility will be significantly more exposed than today's locations. Meanwhile, other environmental conditions on such sites are very attractive for salmon, with good water exchange that will ensure good fish welfare, growth and environmental sustainability.

NRS is working towards a goal of putting the first fish in the sea during the summer of 2020. The industrial ambition is to combine knowledge from the fish farming industry with offshore expertise to develop the aquaculture industry of the future and secure sustainable future growth for the Norwegian aquaculture industry.

Shortly, information on the project will be published on www.norwayroyalsalmon.com, where there will be detailed information on the concept and the possibility for potential suppliers to register their interest in the different parts of the project.

See the video description of the construction below:

https://www.youtube.com/watch?v=V1ON7NMHL5s

For more information, please contact:

  • CEO Charles Høstlund, +47 994 18 449
  • CFO Ola Loe, +47 911 79 411
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norway Royal Salmon ASA via Globenewswire

Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.