Atlantic Sapphire ASA and Skretting Enter Agreement to Secure Local Feed Supply
November 10, 2021 at 09:13 pm
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Skretting and Atlantic Sapphire ASA announced Skretting's intention to construct a specialized feed plant for land-based salmon in Florida to serve Atlantic Sapphire's US operations with feed specialized for Bluehouse farming. Skretting intends to build and finance the feed plant, while Atlantic Sapphire will commit to source the majority of its salmon feed demand from Skretting over the contract period, which is expected to span ten years. The agreement contains contractual mechanisms to ensure that Atlantic Sapphire always has access to market leading salmon feeds in terms of both quality and value, while Skretting continues to exceed industry standards. The long-term feed agreement commits both parties to a close cooperation on R&D and development of Bluehouse feeds of the future, through both financial commitments and sharing of knowledge from and between the two organizations. Skretting and Atlantic Sapphire expect continuous improvements going forward that will result in better fish welfare, higher product quality, improved sustainability and lower cost of production. In addition to reducing the carbon footprint, the parties will be working together on implementing novel ingredients in the feeds. Skretting will support Atlantic Sapphire's ambition of continuously innovating towards high-quality, cost competitive feeds that meet all the requirements of the Bluehouse salmon while using zero marine ingredients in the diet and maintaining high levels of healthy Omega-3s in the finished product. The construction of the feed plant is subject to Skretting receiving all necessary permits to build and operate the feed plant after which a final investment decision will be taken.
Atlantic Sapphire ASA is a Norway-based aquaculture company. The Company breeds Bluehouse (land-raised) salmon farming and transforms protein production globally. Atlantic Sapphire has a focus on Research and Development (R&D) and innovation to equip the Company with the technology and procedures that enable the Company to commercially scale up production in end markets close to the consumer. In the USA, the Company OPERATES its Bluehouse in Homestead, Florida. The Company has the capacity to harvest approximately 10,000 tons (HOG) of salmon annually. Atlantic Sapphire constructs its Phase 2 expansion, which aims to bring total annual production capacity to 25,000 tons, and has a targeted harvest volume in 2031 of 220,000 tons.