Nordic Aqua Farms

Overview
News
Sustainable Aquaculture?
Product stageSegments
Early
?
Farming (Finfish)
?

Nordic Aquafarms is a producer of land-based aquaculture, with operations in Norway, Denmark, and planned facilities in the US. The company focuses on developing local, sustainable seafood solutions using recirculating aquaculture system (RAS) technology. In Humboldt County, California, Nordic Aquafarms is in the permitting process to build a yellowtail kingfish farm on the site of a former pulp mill. The company originally planned to farm Atlantic salmon at this location but switched to yellowtail kingfish in April 2023. This change is expected to reduce the facility's freshwater and energy needs, building footprint, and environmental impact. The California project received approval from the California Coastal Commission in November 2023 for its outfall Coastal Development Permit.

Nordic Aquafarms also pursued a project to build a large-scale RAS salmon farm in Belfast, Maine. However, this project has faced numerous legal challenges and setbacks. In June 2023, the Maine Department of Environmental Protection suspended two of Nordic's licenses for the Belfast project at the company's request, due to ongoing legal issues related to land rights and conservation easements.

The company's RAS technology allows for fish production in controlled indoor environments, which aims to reduce the environmental impact compared to traditional sea-based aquaculture. Nordic Aquafarms' approach involves using seawater in its systems and implementing waste treatment processes to minimize discharge impacts. The Humboldt County facility, when operational, is projected to produce 3,000 metric tons of yellowtail kingfish annually, a significant reduction from the initially planned 27,000 metric tons of Atlantic salmon.

Key customers and partnerships

Nordic Aquafarms has engaged in various partnerships and community initiatives related to its projects. In Humboldt County, the company is working closely with the College of the Redwoods aquafarm program to develop workforce training and internships. The project has also received support from local entities.

For its California project, Nordic Aquafarms has committed to providing an annual sustainability report and creating a forum for discussing issues and solutions with non-government organizations, community leaders, academia, tribal government leadership, and members of the public. The company has also pledged a minimum of USD 25,000 annually to be combined with matching funds and sponsorships to finance community projects in the Humboldt Bay area.


Sources

Disclaimer: This company profile has been generated using data obtained through automated web searches and advanced generative AI technology. While we strive to ensure the accuracy and reliability of our sources, auto-generated information could be outdated or inaccurate and should be verified independently.
HQ location:
Fredrikstad NOR
Founded year:
2013
Employees:
11-50
IPO status:
Private
Total funding:
USD 9.2 mn
Last Funding:
USD 9.1 mn (Series Unknown; Jan 2023)
Last valuation:
-
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