Laxey hands AKVA €8.5m contract for post-smolt unit

Global aquaculture supplier AKVA group today announced an €8.5 million (£7.4m) contract from land-based salmon farmer Laxey for the delivery of a post-smolt module as part of a water re-use grow-out facility on the island of Heimaey in the Vestmannaeyjar archipelago (Westman Islands), Iceland.

Laxey’s grow-out facility at Viðlagafjara, which incorporates a re-use system with 30-35% water change, will have an annual production capacity of 36,000 gutted weight tonnes when fully completed. The first harvest from Phase 1 is planned for the autumn.

The company already operates a post-smolt facility in Viðlagafjara, and in June it delivered post-smolts to an external farming operator for the first time, establishing the first revenue stream.

The delivery marked the start of Laxey's two-part business model, where it both produces harvest-sized salmon for its own market and sells post-smolts to other players. According to the company, this provides increased flexibility and the opportunity to generate revenue earlier in the production cycle.