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Plans for Europe's largest onshore salmon farm in southwest France, viewed as 'absurd and disproportionate' by activists and touted by the company behind the project as a chance to push for EU sovereignty has been put on the radar of the European Commission and Parliament.
Smørhamn, Norway-based Smart Salmon is set to join the land-based salmon farming revolution in Norway.
Smart Salmon’s ultimate aim is to produce 50,000 metric tons (MT) of salmon raised in recirculating aquaculture system (RAS) facilities in Norway and France by 2029.
The company is looking to raise private capital for the project before seeking an initial public offering (IPO) in the second quarter of 2021.
According to a Smart Salmon presentation, the company initially hopes build a 7,500-MT flexible farm as part of a major fish farming cluster on the northwest coast of Norway, producing 2,500 MT of large smolts up to 0.5 kilograms in weight, and 5,000 MT of harvest-weight salmon. The company estimates total capital expenditure for the project at NOK 350 million (USD 40.5 million, EUR 33.6 million) for the smolt plant and NOK 600 million (USD 69.4 million, EUR 57.7 million) for the land-based salmon farm. Construction is expected to start in Q1 2021, initial production