Industry update News Regulations
GeoSalmo obtains environmental assessment approval

Following two years of environmental assessment, land-based aquaculture company GeoSalmo said it secured the approval of the Icelandic National Planning Agency, Skipulagsstofnun.

GeoSalmo plans to build a hybrid recirculating aquaculture system (RAS) facility in Þorlákshöfn, near Reykjavik. The company hopes to produce 24,000 tons of gutted Atlantic salmon. 

The National Planning Agency’s opinion is a prerequisite for other license applications that are necessary for the development of the land-based fish farm.

“Today we celebrate receiving the opinion of the Icelandic National Planning Agency, which confirms the high-quality work that lies behind the environmental assessment,” said Jens Þórðarson, chief executive of GeoSalmo. “This marks the end of a two-year project and is the single biggest milestone in the company’s preparations for its development.”

With the approval, GeoSalmo will be able to start construction, said Þórðarson.

Construction is scheduled to start in the third quarter of 2023. 

In the first phase of the project, GeoSalmo plans to build a salmon farm that can produce up to 7,500 tons per year.

GeoSalmo has contracted he Norwegian company Artec Aqua on the design and construction of the the facility. The project will use Artec Aqua’s hybrid RAS system. The aquaculture industry systems provider develops  RAS and flowthrough technologies.‍