My Q4 quarterly update is on the shorter side. Construction work continues with a new contractor and, at least for now, remains on schedule and within budget. Let’s hope for better traction on both points than with the previous one…
The fish are growing, and as spring arrives, salmon growth is expected to continue faster than the Skretting growth curve. Currently, the growth rate is 25-30 percent ahead. In addition to growth, the low mortality rate of the fish is pleasing. Soon, the company will announce its “post-smolt” solution, i.e., to whom and at what price some of the fattened salmon will be sold to other fish farmers. It will be interesting to see how the operation affects the mortality of the fish remaining in the tank.
Biological conditions seem excellent. The built flow-through system is apparently working as planned. If anything can be inferred from the mortality rate, one could assume that the fish quality is also (as expected) at a better level than its net-pen counterparts.
I have collected the status information for the tanks into the table below, covering both those in use and those still under construction. The new tanks are needed so that the “nursery tanks” do not become too crowded and the further growth of the fish is not compromised.
Status as of Feb 22.
| K0 | K1 | K2 | K3 | K4 | |
|---|---|---|---|---|---|
| Start date | 30.09.26 | 10-12.11.26 | Q2/Q3/2026 | Q2/2026 | Q3/2026 |
| No. of fish at start | 350,000 | 750,000 | |||
| Avg. starting weight | 180 | 160 | |||
| Survival rate | 99.58% | 99.59 % | |||
| Average weight | 1,350 grams | 576 grams | |||
| Feed conversion ratio (FCR) | 0.97 | 0.88 | |||
| Biomass (salmon weight, tons) | 471 | 431 |
Monitoring through spring and summer will focus not only on “interim sales” but also on the successful completion of the new tanks. After this year, as I understand it, there will be enough tanks ready for one production cycle (nursery tank, finishing tanks). The construction schedule for the following ones has not yet been communicated at this stage, but the basic infrastructure for them is already in place through the initial investment.