Salmon Evolution and Cargill enter strategic partnership – Cargill invests USD 5 million in Salmon Evolution through a private placement
Under the agreement, Cargill will supply 100% of Salmon Evolution’s feed volumes to the Indre Harøy site currently under construction with production planned to start in March 2022.
Through the partnership, Cargill will use its research and development expertise to develop sustainable feed solutions tailored to Salmon Evolution’s customers and goals, including high biological performance and premium product quality.
Fredrik Witte, director of Cargills aquaculture business in the North Sea region, comments:
“Cargill works with salmon farmers around the world, providing feed that supports fish welfare and improves farmer productivity and earnings potential, while reducing the environmental impact of aquaculture. One of the key areas to realizing the massive potential in land-based salmon farming is having optimal feed tailored to the salmon’s specific living environment – and we’re committed to working with Salmon Evolution to help them realize this potential.”
Håkon André Berg, CEO of Salmon Evolution, comments:
“Having the best possible feed is essential for every salmon farmer. Particularly, in our HFS system where we create optimal and stable living conditions for the salmon, we see a strong and untapped potential in tailoring a feed focused on maximizing biological performance and product quality. Given Cargill’s solid reputation and track record as a supplier of high-performance feed solutions, combined with their substantial R&D capabilities and capacities both in Norway and abroad, we are confident that we have found an ideal partner.”
In connection with the agreement, Cargill is investing USD 5 million in Salmon Evolution, structured as a private placement. The investment will be used for general corporate purposes including evaluation and development of future expansion opportunities, further underpinning Salmon Evolution’s strategy of taking a lead role in the global land-based salmon farming industry.
Read the complete release on Oslo Stock exchange here , and on Salmon Evolution website here