GeoSalmo, an Icelandic company, is revolutionizing the salmon farming industry with its innovative approach to sustainable land-based production. With a vision to lead the future of land-based salmon farming for the betterment of the world, GeoSalmo is making significant strides in creating a state of the art aquaculture facility.

The Project Blueprint of Salmon Farming

GeoSalmo's main project is constructing a large-scale hybrid flow through land-based farm in southern Iceland. This ambitious venture aims to produce 24,000 tons of gutted Atlantic salmon once fully operational. The facility will incorporate on-site smolt and processing facilities, allowing the company to manage the entire salmon life cycle, from roe to the finished product, all in one location.

The project is being developed in phases. In the initial phase, the farm is designed to produce approximately 7,500 tons of fish. This phased approach enables GeoSalmo to gradually scale up its operations while ensuring the effectiveness of its systems and processes.

Farming Environment and Technology

One of the most remarkable aspects of GeoSalmo's project is its commitment to environmental sustainability. The company is leveraging Iceland's natural resources, such as fresh seawater from boreholes on the facility site. This approach provides an ideal environment for the fish to grow with minimal handling and without the need for undesirable chemicals in the farming process.

GeoSalmo has chosen the hybrid recirculating aquaculture system (RAS) technology, supplied by the Norwegian company Artec Aqua. This technology combines the benefits of recirculating systems, which conserve water and reduce waste, with flow through systems that supply fresh water. The result is a system that promotes fish health and growth while minimizing the environmental impact.

Moreover, GeoSalmo has secured a contract with Icelandic geothermal power company ON Power to acquire up to 28 MW of electricity for the farm. This partnership not only ensures a reliable power supply but also aligns with the company's and Iceland's commitment to environmental sustainability. Iceland, known for its abundant renewable energy sources, allows GeoSalmo to power its operations with clean energy, further reducing the carbon footprint of its salmon production.

GeoSalmo's Development and Plan

After two years of environmental assessment, GeoSalmo received the approval of the Icelandic national planning agency, Skipulagsstofnun. This approval was a crucial prerequisite for other license applications necessary for the development of the land - based fish farm. In 2023, the company also secured the necessary municipal construction permits, marking another major milestone.

In late 2023, GeoSalmo successfully completed a financing round, attracting investment from Norwegian, Swedish, Icelandic, and Dutch entities. This financial backing from diverse sources, including Skel Investment Company, Út hafskip, Eskja's ownership group, Norwegian industrial giant Endúr asa, and Dutch fish processing and distribution firm Adri & Zoon, will fuel the company's growth and development.

In 2024, GeoSalmo officially broke ground on its construction site, signifying a turning point in its development. Production is slated to begin in 2026, with the first products expected to reach the market in 2027.

As GeoSalmo continues to build and expand, it has the potential to not only transform the salmon farming industry in Iceland but also serve as a global model for sustainable aquaculture. By combining technological innovation, environmental responsibility, and sound business strategies, GeoSalmo is well positioned to achieve its goal of becoming a leader in the land - based salmon farming sector, providing high quality, sustainably produced salmon to consumers around the world.

For further information, please follow GeoSalmon's website: www.geosalmo.com