The Norwegian company achieves full control over their entire value chain, from genetics to harvesting, processing and value-added production
Nordic Halibut (NH) recently announced that an agreement has been entered into with Pure Norwegian Seafood (PNS) giving to the company a right to use PNS‘ processing facilities at Averøy. An agreement has also been entered into between Nordic Halibut and PNS‘ principal shareholder, Måsøval, pursuant to which Nordic Halibut is given the option to purchase 100% of the shares in PNS for an undisclosed purchase price, subject to necessary agreements being entered into by Måsøval with the minority shareholders in PNS.
Access to PNS‘ processing facility will be an important factor in Nordic Halibut‘s planned scale-up of production volumes during the coming years, targeting an annual production of 10,350 tons HOG by 2031.
“We are pleased to partner with PNS and look forward to integrating their skilled personnel into our operations. This collaboration not only strengthens our production capabilities but also underscores our dedication to securing and creating jobs locally,” said CEO Edvard Henden.
“With this partnership, we are taking the final step toward achieving full control over our entire value chain—from genetics to harvesting, processing, and value-added production. Controlling the complete value chain allows us to maintain the highest quality standards and optimize efficiency,” he added.
High-Quality Services
PNS is a processing facility, based in Averøy, Møre og Romsdal, renowned for its high-quality services. The processing plant has a highly flexible production line that is adaptable to processing multiple species. The production facility also has capacities for sanitary slaughtering as well as significant freezing capabilities.
“By investing in local expertise and integrating every stage of production, we are securing long-term stability, strengthening our market position, and promoting economic development in the region,” Henden finally commented.
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Final Investment Decision for the Tingvoll Production Facility
Some days earlier, Nordic Halibut reached the final investment decision for the Tingvoll production facility, marking a significant milestone in the company’s growth strategy. Mobilization will commence shortly, with planned construction start during Q1 2025. The facility is planned to be fully operational by 2027. Further updates on project progress and key milestones will be provided in due course, they reported.
According to them, the new Tingvoll production facility is set to significantly enhance efficiency and production capacity as part of the company’s ramp-up plan, targeting an annual production of 10,350 tons HOG by 2031.
“We are now establishing a solid foundation for sustainable profitable growth. As Phase Two reaches full operational capacity, we will have a highly efficient, cash-flow-generating platform that not only strengthens our financial position but also provides significant investment capacity and drive long-term expansion,” assured in that sense Henden.
100% Flow-Through System
NH is developing and building a new land-based facility with all production phases integrated at one location, targeting an annual production of 1 million juveniles released into the sea. Coupled with the company’s already existing land-based infrastructure, it will have the capacity to put over 2 million fish to sea per year, corresponding to a harvest volume of 10,350 tons HOG.
The facility will be built with well-established and proven technology and will be based on a 100% flow-through system. The fjords surrounding Torjulvågen, Tingvoll, are deep, enabling NH to access water of high quality and stable temperature, perfectly suited for land-based halibut production without the need for advanced technological water treatment or heating. This makes the facility energy-efficient, in addition to minimizing technological risks throughout the production cycle.
As part of the company’s sustainability ambition, NH has designed the new land-based facility to be nearly self-sufficient by utilizing its own renewable solar power installed on the rooftops of the production units. Additionally, the facility will serve as a center of competence and R&D development, further strengthening NH’s competitive advantage.
“The new land-based facility will, for the first time in the company’s history, be specially designed for halibut farming, without any legacy costs in terms of location and technology. Utilizing Torjulvågen’s natural environment and water properties enables us to produce energy-efficient and sustainable superfood at an industrial scale,” finished Henden.
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