Cargill, Salmon Evolution partner in feed agreement
Global feed manufacturer Cargill has snagged a contract to provide fish feed for Salmon Evolution’s land-based aquaculture facility in Indre Harøy, Norway.
Under the terms of the strategic partnership, Cargill, starting in March 2022, will provide 100 per cent of the fish feed volumes required by the facility The feed company will also provide research and development capacity to develop sustainable feed solutions “tailored to Salmon Evolution’s operational targets.”
“Having the best possible feed is essential for every salmon farmer,” according to Håkon André Berg, chief executive officer of Salmon Evolution. “Particularly, in our HFS system where we create optimal and stable living conditions for the salmon, we see a strong and untapped potential in tailoring a feed focused on maximizing biological performance and product quality.”
“Given Cargill’s solid reputation and track record as a supplier of high-performance feed solutions, combined with their substantial R&D capabilities and capacities both in Norway and abroad, we are confident that we have found an ideal partner,” he added.
The deal also requires Cargill to invest approximately USD $5 million by way of private placement of new shares. The proceeds from the private placement will be used for general corporate purposes including evaluation and development of future expansion opportunities for Salmon Evolution, according to a press release from the aquaculture company.
“One of the key areas to realizing the massive potential in land-based salmon farming is having optimal feed tailored to the salmon’s specific living environment – and we’re committed to working with Salmon Evolution to help them realize this potential,” said according to Fredrik Witte, managing director of Cargill Aqua Nutrition, North Sea.