Nutreco has joined the investors of Iceland-based salmon producer LAXEY. On the back of this investment, Skretting, the global aquafeed division of Nutreco, has committed to supplying feed to the hybrid flow-through salmon project, in a partnership that strengthens its immediate commercial and future strategic positions.
Icelandic salmon producer LAXEY has successfully completed a EUR 40 million capital increase, and it has been announced that Nutreco is one of its new investors. LAXEY, a hybrid flow-through salmon project located on Vestmannaeyjar, also referred to as the Westman Islands, was founded in 2019. The project is building on the legacy of the local fishing industry while tapping onto the natural advantages of land-based aquaculture in Iceland.
LAXEY’s main owners, the Oskarsson family, have 75 years of fishing heritage behind them. They had started their first round of fundraising last autumn, hoping to attract international investors in order to reach its production goal of 4,500 metric tonnes of salmon in 2025. They have set their sights on 27,000 metric tonnes by 2030.
Skretting emphasizes that it holds a strong position in Iceland, the fastest growing market in the salmon industry, and is also a global leader in feed to closed aquaculture systems (CAS) farms. With this investment in place, Skretting has committed to supplying LAXEY with feed through the whole build-up phase of the project.
“In Skretting we believe in close and long-term collaboration with fish farmers in order to release the full potential from nutrition, feeding and efficient logistics,” says Håvard Walde, General Manager of Skretting Norway. “We are very proud to partner with LAXEY. This partnership puts us in a good position to prepare for our next steps in Iceland.”
“LAXEY has great prospects, and we are honoured to be a part of their journey. With this investment, Skretting is also committed to supporting and further developing the Icelandic aquaculture industry,” adds Therese Log Bergjord, CEO of Skretting.
“We are excited to join forces with Skretting, a leader in the field of salmon nutrition. High quality feed will result in a high-quality product, and we are looking forward to a long-term co-operation,” notes Hallgrímur Steinsson CTO of LAXEY. “This partnership signifies a significant milestone in our journey towards producing premium-quality salmon here in Vestmannaeyjar.”
