Industry update News
Proximar Seafood reports progress toward first harvest

Norwegian land-based salmon farming company, Proximar Seafood, has reported that at the end of the first quarter of the year, it’s “on track” for its first harvest of Atlantic salmon in September.

The company said in its investors report that its targeted long-term harvest level for Proximar from its production facility near Mount Fuji, Japan is 5,300 tonnes Head-on-Gutted (HOG) per year in Phase 1, with a gradual ramp-up from the first harvest.

Estimated harvest volumes for 2024 and 2025 are expected to be around 4,700 tonnes (HOG). The 2024 target harvest volume will be communicated closer to the first harvest. Proximar said its standing biomass at the end of Q1 was 111.9 metric tonnes, up from 39.8 metric tonnes at the end of Q4 2023. By mid-May the biomass was 188 tonnes.

“We are pleased to see the standing biomass increase at pace, whilst the growth of the fish remains according to expectations. Despite some start-up related problems resulting in mortalities, we remain confident in our targeted volumes. Fish health and safety remain our key priority going forward. We have a strong team in place and remain optimistic in terms of our production and first harvest,” said Joachim Nielsen, chief executive officer of Proximar Seafood.

The company also reported that operational activities are increasing in the post-smolt grow-out (PSG) building as planned. The second module of the PSG will be put into operationduring Q2, with the remaining two to follow in the second half of this year.

Proximar said it has a long-term off-take agreement with its Japanese sales and distribution partner Marubeni Corporation for all its produced volumes. In March, Marubeni announced the launch of a dedicated Proximar division to boost the marketing and sales of land-based Atlantic salmon the company produces.

“We are ramping up our sales and marketing activities together with Marubeni, as we progress towards the first harvest. I’m confident that our strategic partnership with Marubeni provides unmatched access to the Japanese market, strongly supported by a separate division and a dedicated team working with us,” Nielsen said.